Tax Rebates & Refunds

Some common reasons for tax rebates

June 1, 2011
Posted in Tax Rebates — Written by Geoffrey

Even though most people are not efficient in the management of their finances, they are always eager to get some money from somewhere. Now while everyone wants money coming in, especially if it is from the government not everybody qualifies for the same. Listed below are some of the reasons due to which people may qualify for a tax rebate.

Incorrect overpayments
The first and foremost reason that makes people eligible for a tax rebate is incorrect payments. When a person has filled in their tax returns incorrectly and has ended up paying extra in taxes which are not due, the government is liable to pay him back the extra tax. Before the government makes any payment, the claim will obviously be verified to check if there actually was an error in the payment and whether the applicant is eligible to receive any money back.

Working as a student
Simply working as a student does not complete the criteria for a tax rebate. However, if you are a working student, the chances are high that you would not have worked for the whole year. Once you analyse your income and how much tax you are supposed to pay, there is a chance that you will be eligible to receive some money back from the government.

Business expenses
Certain expenses made by individuals are for their businesses and are supposed to be written off. But the ignorance of not writing it off in time causes confusion that it is your own expenses, which in turn increases your taxes. Once it is adequately proved that the expenses made were not your own, you are eligible for a rebate.

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