Tax Rebates & Refunds

Familiarise yourself with the world of tax refunds

May 21, 2012
Posted in Tax Rebates — Written by Geoffrey

It is important to know what a tax rebate is when you are working part time or full time or you are self-employed. Whatever job you rely on for your income, you will pay tax as long as you earn enough to break through the tax free threshold and as such you should familiarise yourself with a few things to do with taxation.

One of the terms you will come across is the term tax rebate. The word rebate is rarely used in other situations but all it actually means is a refund. Tax rebates are just a technical way of describing tax refunds. These refunds are not available willy-nilly, but people who have paid too much tax for some reason can and should claim for them.

Claiming for tax rebates is a matter of dealing with tax claims agencies who can calculate the amount of tax you should have paid for a certain portion of time which obviously allows them to work out whether you have indeed paid too much and how much you are entitled to claim back from the Inland Revenue.

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