Compensation
the lump sum payment received was held to be a capital receipt and, hence, not taxable for the former spouse. This decision was in the context of cash payments and does not deal with assets transferred as a part of the separation.
For the spouse paying the alimony, there is no provision under the tax laws enabling him to claim a deduction towards such payment from his income.
the lump sum payment received was held to be a capital receipt and, hence, not taxable for the former spouse. This decision was in the context of cash payments and does not deal with assets transferred as a part of the separation.
For the spouse paying the alimony, there is no provision under the tax laws enabling him to claim a deduction towards such payment from his income.
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