Tax Rebates & Refunds

Do tax rebates apply for retirees?

March 20, 2012
Posted in Tax Rebates — Written by Geoffrey

Retiring is an exciting time of your life. Although it may feel quite daunting in the sense that you will have a lot of time to fill and you will have to find some new purpose outside of your professional career, the fact is that being retired allows you to adjust to a totally different pace and it gives you the opportunity to do the things you would have liked to do given the time.

Retiring obviously has its effect on your finances. You can no longer rely on your monthly wages coming in to facilitate the things you want to do, but you can rely on your pension and any savings or investments you have made. Initially, you may also be able to rely on a timely tax rebate depending on when you finished working and what it means for the tax you have paid.

Tax is something that evens out during the year so there is a real chance that you will have paid more tax for the year of your retirement than the total ought to be given that you are no longer earning when you finish. This is when tax rebates apply to retirees.

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