Frequently Asked Questions
Why are structures tax free?
Structured settlements are only available to individuals who receive personal injury settlement damages. Because the structure forms part of the settlement, each monthly payment received is viewed as a payment for personal injury damages. Just like a lump sum payment, structure payments are for personal injury damages and therefore are not taxable because CRA does not consider the payments to be income.
McKellar Lead Sponsor of the 2012 BIST and OBIA Mix & Mingle
McKellar Lead Sponsor of the 2012 BIST and OBIA Mix & Mingle