We have previously talked about Fox v Wood claims in a previous post. As a reminder, the principle established in Fox v Wood(1981) 148 CLR 438 is that the plaintiff is entitled to recover the additional income tax paid in respect of refundable workers compensation receipts.
Fox v Wood is calculated as the difference between the tax on the plaintiff’s taxable income and the tax on the plaintiff’s taxable income less the refundable workers compensation.
Below is a simple template that we use for calculating Fox v Wood claims that you can also use in conjunction with our tax calculator.
You can highlight the table below and copy/paste directly into your word document.
| Fox v Wood Calculations | 2006 | 2007 | 2008 | 2009 | Total | |
| Taxable Income | A | |||||
| Workers Compensation | B | |||||
| Income less Workers Comp | C=A-B | $ | $ | $ | $ | |
| Tax on Taxable Income (A) | D | |||||
| Tax on Income less Workers Comp(C) | E | |||||
| Fox v Wood Claim | F=D-E | $ | $ | $ | $ | $ |
The Fox v Wood claim is the sum of the additional tax paid in each year (yellow box).
I hope that this helps. Feel free to leave comments if you have any questions