Anonymous
Anonymous asked in Business & FinanceTaxesAustralia · 1 decade ago

Whyen do you get your money back from taxes?

im 17 and pay taxes so will i get all my money back from paying my taxes

and when do i get the money back usually?

10 Answers

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  • KC
    Lv 4
    1 decade ago
    Favorite Answer

    I think it will take a month or so after filing to get your refund. You will not get all the money back, just the portion you overpaid in taxes.

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  • 1 decade ago

    In Australia you must file your tax return. If this is done online your refund will be automatically estimated before you file the return. It will take them 2 weeks to process if filed electronically. If it is done through the post on a hard copy form it may take up to six weeks depending on the backlog. Paying tax does not always mean you will get money back, as in Australia you are only entitled to the proportion of the tax free threshold from when you ceased being a full time student and there are other factors that determine whether you have overpaid the tax payable on your earnings.

    If you are paying GST on business expenses it may be an idea to register for GST so you can get that money back...this is only if you are running a business though.

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  • 1 decade ago

    you come up under australia and nz, so don't know about there.

    in us, you don't get all your taxes back usually. you get back anything ABOVE what you were supposed to pay. your fair share is determined by your income and some other factors. generally, the more income you make, the more taxes you pay for your fair share. if you've overpaid your fair share, the govt will refund your overpayment. if you've underpaid, you will owe them the rest immediately, unless you ask for an extension or payment plan.

    if you do something to help out the govt (donate to charity, renovate a run down neighborhood, etc., they will cut you some slack on the taxes they think you should pay. These are called tax deductions or tax credits.

    US uses taxes to help with its expenses, so there would be no use to collect taxes from you if they were just going to give them all BACK to you.

    if you are owed for your overpayment, you can file electronically at home or pay a cpa or a company to file for you. nowadays, things are much quicker (1-3 weeks). i once got them back in four days. a few years back it took almost six weeks.

    or you can get a loan based on your projected refund, but that just robs you from your own money. hope this helps.

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  • 1 decade ago

    14 July is the earliest. You have to put in your tax return. It takes time to process. You will need all the papework from your employers ie goup certificates etc, this is done end of June first week July. the Tax office is quite efficent, you get your money usally 14 days from submiting your return.

    More Information: www.ato.gov.au

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  • 1 decade ago

    In the USA, if you do a direct deposit to a bank account then it's 3-4 weeks from the day you file if you file electronically.

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  • Anonymous
    1 decade ago

    Well... in the US, you can file as early as January 15 (if you have your tax forms from your company) on-line... and will receive them anywhere from 4-10 days if you have them directly deposited to your checking account. Start collecting all of your forms and info now so you can do it as soon as you receive your employee tax forms.

    Source(s): Three years in a row... got them within one week each time after filing first week of February.
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  • 1 decade ago

    Usually about 6 weeks after filing. Maybe sooner if you file electronically.

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  • 1 decade ago

    Generally about 2 weeks after you file, if you file online.

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  • 1 decade ago

    aprox. 2-6 weeks

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  • 1 decade ago

    january-febuary

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