Tax Rebates & Refunds

Tax refunds – Understand them before you file your application

December 14, 2010
Posted in Tax Rebates — Written by Chris

Tax refunds are simply the excess money the government has to repay you if you have overpaid tax. There is the chance that you will pay an excess amount of tax to the government than what is actually required. If the government owes you money, it has to pay you back.

Tax refunds

When you have paid an excess amount of tax to the government and have made a claim you will receive a refund cheque from the government. These instances are common and the amount of tax refund that you will receive depends on how much the government owes you during a particular tax year. You will receive a cheque for your tax refund and can then spend the money any way you want.

Why are you entitled to them?

There are a variety of reasons why you may be entitled to a tax refund. One of the common reasons is that the government has taken too much tax because you are on the wrong tax code. You may have been placed on an emergency tax code when you started a new job or you may had been made redundant and not taken advantage of your tax free amount.

There are various other reasons why you may be entitled to a tax refund. If you have any doubts related to tax refunds, then you should consult a professional about the amount of tax you pay.

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