Tax Rebates & Refunds

Common reasons to apply for tax rebates

September 27, 2010
Posted in Tax Rebates — Written by Geoffrey

Tax rebates can be simply defined as refunds on taxes that were paid in excess by an individual. If you end up paying excess taxes, then you first need to apply to receive your tax rebate. If you want to know more about tax rebates, then read on.

How you may be eligible for a tax rebate

There are many reasons why you would be eligible for a tax rebate. One of the reasons is that the government takes extra tax from you during the year and thus it is the government’s responsibility to pay back the excess amount. They take extra tax as their estimations of expenditure are higher than what is actually required. The extra amount is to ensure that they do not fall short of funds in case of any emergency expenses. Most of the time, the extra funds are not utilised and they need to be paid back.

If you have paid your income taxes on time, then there is a high chance that you can apply for a tax rebate. Apart from this, there many other reasons why you may be entitled to a tax rebate.

Home taxes

A rare instance is when you were levied additional taxes for your home and thus the government should grant you the rebate. This happens more when you have purchased a new home. The government levies a certain amount of tax on your home and this tax is according to what they think is appropriate. In such cases, you should apply for tax rebates.

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