Unbelievably there is tax money that should be going back to the citizens which is left unclaimed. This is probably because things like the student tax refund are not necessarily understood. The tax code is quite complicated for the average individual, and this is likely what makes for money being left on the table.
The student tax refund may be available to students who fall into the following categories:
- Have not lived in the country long
- Are paid via commission
- Are not working full time
These three categories could make a person fall outside of the typical realm of individuals who are taxed. In other words, the tax code is written to tax those who are working traditional jobs at full time. This is why students are often taxed more than they should be. If they are in one of the above categories or in a variety of other situations, they may have to look into getting a refund on the money that has been taken from them via taxes. It is simply a matter of right and wrong, and the government could well be in the wrong if they are taking so much from people.
The PAYE or pay as you earn system is created to treat people fairly, but it only works best when the individual in question is someone who works a traditional job full time. While it may be a great deal for people who happen to fall into that category, others do not get such a great bargain when they are over taxed.
Luckily, with help from professionals, it is possible to undo a lot of the damage that has been caused by this system to your personal finances. These professionals can help you get your student tax refund right away.