Tax Rebates & Refunds

Two reasons why you could be due for a tax rebate

December 1, 2010
Posted in Tax Rebates — Written by Geoffrey

Tax rebates are the refund money that you get when you have paid more to the government than what was actually required. Many times, the government will owe you some money which they will eventually return to you.

As a taxpayer, you will receive the tax rebate as a cheque so that you can spend the money the way you want to. People can use the tax rebate money for any fun or non-practical purpose as it is considered to be free income.

Excess taxes

There are many reasons why you would be entitled to a tax rebate. The most common reason is that you have paid excess to the government through your work’s payroll, classified under emergency tax. The reason why you pay excess to the government is that they estimate a higher amount. The government has to keep some funds in excess just in case any unplanned expenditure arises. Most of the time, these excess funds are not used for any purpose and have to be returned to the taxpayer.

Home taxes

Another way you could be entitled to tax rebates is that you have regularly paid your income tax on all your pay. Apart from this reason, there are various other reasons why you would be due for a tax rebate. Another rare instance is that the government must have charged you a higher amount for your home taxes. This applies for most new home owners who never used to pay taxes on their homes. The government charges on home tax depending on what they think is the worth of the home rather than what is actually the price.

No Comments (Leave comment »)

No comments yet.

Comment RSS | TrackBack URL

Leave a comment