Tax Rebates & Refunds

Here is what you need to know about tax rebates for students

July 18, 2011
Posted in Tax Rebates — Written by Geoffrey

When you start working while you are studying, you feel that you should be able to save more money. This however is not always possible. Any person who earns an income is expected to pay tax. Tax rebates are available to individuals who pay additional amounts in taxes.

Things to know before filing a tax rebate claim

A student, who is also working, should be aware of how much tax they are required to pay. The student should stay up-to-date with their income and the tax code which is issued to every employer by the government. Depending on your work, you may be able to receive an appropriate tax rebate. However, you need to know which job will allow you to get this rebate.

If you start working in the middle of the tax year, then you may be entitled to a tax rebate. The government has specific income groups related to paying taxes. If you have joined in the middle of the tax year, this could affect the code you are placed on. Taxes are calculated on the basis of the time spent working. So if you work for three months then you will only be taxed for that time.

When you leave your job during the tax year then you could be eligible for a tax rebate. You get taxed for the remaining amount of time, assuming you will receive tax relief.

Consult a tax advisor in order to receive the correct tax rebate amount.

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