Will you get money back?
Who qualifies for money back?
Most people who earn salary or wages pay the right amount of tax and don't need to do anything at the end of the tax year. The PAYE system and PAYE tables are calculated based on 52 weeks or 26 fortnights occurring in a tax year.
However, each year there are a number of employers and employees who have 53 paydays if they're paid weekly, or 27 paydays if they're paid fortnightly. This is because of the day in which their wages are paid.
As a result they may not have had enough PAYE and/or student loans repayments deducted throughout the year. There may have also been overpayment of Working for Families Tax Credits for some due to underestimation of family income. This means that in some cases, they'll owe tax.
Due money back?
If you were a salary or wage earner during the 2009-2010 tax year you may be eligible for a refund if you:
- worked for only part of the year
- earned less than $14,000
- earned less than $9,880
- were paid a lump sum, for example redundancy
- used the ME or ME SL tax code
- earned between $24,000 and $48,000 and don't receive government payments
- worked while still at school
- had more than one job
- have expenses to claim
- paid too much tax.
What you should do
You can find out if you are due a tax refund or owe tax by using our online calculator - it's anonymous and free.
Use our online refund calculator
To be able to use the calculator you'll need your income details for the 2009-2010 tax year. You can get this information online.
If you have a student loan
If your repayment obligation is more than $20 you'll be issued your income details for the 2009-2010 tax year automatically, and advised whether you're due a refund or have tax to pay.
Claiming tax credits
You may be eligible for a tax credit if you:
- paid for childcare or a housekeeper
- made donations of more than $5.
What you should do
You'll need to complete an IR526 form and send it to us with your receipts.
The quickest way to file your tax return is online.
Remember you have until February 7 next year to pay (or 7 April if you have a tax agent). If you believe you may have difficulty paying, please contact us as soon as possible so we can discuss your situation and options with you.
Date published: 03 Aug 2010
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