| What is a Tax Rebate? | | | | are given back to the taxpayer. |
| In common terms, a tax rebate is simply a refund on | | | | Chances are, if you regularly paid an income tax on |
| taxes when the taxes required are less than the | | | | your paychecks, you will be entitled to a sizable tax |
| taxes actually paid by an individual. When this occurs, | | | | rebate. However, this is not the only reason that one |
| the taxpayers often receive a refund cheque from | | | | might be entitled to a tax rebate. There are more |
| the government to cover this gap. Though they are | | | | rare reasons for which one would be due a tax |
| common, it is merely depending on how much one | | | | rebate, but these instances rarely yield the amount |
| owes the government during the tax season. Tax | | | | of money that one gets for an income tax rebate. |
| rebates are paid to the taxpayers in cheque form so | | | | For instance, if the government charged you too |
| that the taxpayer may spend the excess on | | | | much in your home taxes, they might grant you a |
| anything that they wish to spend it on. Many people | | | | small rebate. This often occurs with new |
| opt to use it for something fun or non-practical, | | | | homeowners that have never paid taxes on their |
| simply because it feels like free money. | | | | homes. When the government charges taxes on a |
| Why would you be due a tax rebate? | | | | home, they charge what they think the home is |
| People are entitled to tax rebates for a variety of | | | | worth rather than what it is worth. This means that |
| reasons. The most common reason is that the | | | | they can often charge too much. If they charge too |
| government takes too much out of your payroll | | | | little, they will adjust in later years, but this rarely |
| during the year (classed as 'Emergency Tax') and | | | | happens. |
| must rectify this by giving a portion of it back. The | | | | The only reason that you may have paid too much |
| reason they take too much is that their estimated | | | | on your taxes is that the government was not clear |
| cost of expenses is greater in projection than it is in | | | | on how much you owed. Thus, after tax time is |
| practical application, but they must keep it higher just | | | | over, you will most likely get a cheque. |
| in case they need the extra funds. But, more often | | | | To find out if you're due a tax rebate please use our |
| than not, most of those funds go unused, so they | | | | free tax rebate calculator on our website. |