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Utility Compensation

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Does anyone know if income tax is due on goodwill/ compensation payments ? I've had a payment from a utility company. It's not money they owe me or that is due to me and is not related to a bill. It's a payment to compensate for poor service/ poor treatment.

Is it tax free ?

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Its not quite as simple as that.

We all have the opportunity to receive certain income free of tax ..........there would be a long list. I'm just curious as to whether this would be on that list ?

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Seems in my case it is tax free....

Compensation for personal suffering & injury is exempt from capital gain (and income) tax. It applies to any wrong or injury suffered by an individual.

Happy days.

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I would have said it was tax free.

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