Carer's Allowance is taxable, according to Carers UK. Based on information provided by the organization, carers will only be obligated to pay tax on the sum if they have additional sources of income that are taxable, such as an occupational pension or earnings.
On its own, the Carer's Allowance falls below the ceiling for having to pay tax. In addition, this allowance is not determined by the income or savings of the carer, according to Carers UK, although earnings may influence the carer's entitlement. Carer's UK also reports that the carer's national insurance record does not affect payment of a Carer's Allowance.Learn More
In general, the proceeds from a life insurance policy paid to a beneficiary are not taxable and are not included as gross income on tax returns. However, any interest received is taxable and must be reported.Full Answer >
Social Security income may be taxable if a recipient's income reaches certain thresholds. If his total income is between $25,000 and $34,000 per year, a recipient may be taxed on 50 percent of his Social Security income, while if his income is above $34,000, the rate rises to 85 percent.Full Answer >
Stipends are taxable when they are for general living expenses. When it comes to stipends from a grantor, if the person has to perform duties to earn the stipend, then it is also taxable. Stipends are not taxable when they are applied to education-related expenses and college tuition.Full Answer >
Workers' compensation benefits received by workers or their dependants are not taxable in most cases. The exemptions include any compensation that workers would receive as part of their general benefits if they retire.Full Answer >