Tax Rebates & Refunds

The newly unemployed can seek tax rebate advice

April 11, 2013
Posted in Tax Rebates — Written by Jennifer

When you lose your job there are obviously lots of different things going on in your mind such as getting back on the path to a new career or evaluating whether you need to retrain and so on. However, it is important to look at some of the immediate financial implications of becoming unemployed so that you look after yourself properly and don’t find yourself too out of pocket.

One of the things that you can do straight away is look into the amount of tax you have paid for the year so far and how this actually relates to the tax you will owe for the entire year given the fact that you now find yourself out of work. If you are not sure about this process then there are experts who can handle it for you.

The fact is that becoming unemployed often makes you eligible for a tax refund because you have contributed a certain amount of tax for the whole year that is based on your earnings for the full year, not just for part of the year. It is wise to look into this more closely when you are looking for something new.

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