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Taxes Deducted and refunded

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1 Taxes Deducted and refunded on Thu Sep 02, 2010 3:14 am

needtoask


Arresto Menor
If I am employed as ME1 and revert to SE1 coz of anuulment, as per our accounting people, same na lang daw ang tax na ibabawas sa akin monthly.

Pero sa yearly na tax refund, pareho lang ba or will I get a bigger refund as ME1 compared to single with one dependent?

Bakit may tax refund kung monthly kinakaltasan ang isang employee?

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2 Re: Taxes Deducted and refunded on Thu Sep 02, 2010 4:03 pm

attyLLL


moderator
under the recent amendments to the tax code, married and single persons have the same tax deductions. if you are entitled to tax refund, then it will be the same as a married person.

note that this was applied in a year where half of the year was under the old law, and the other half under the new law so there were refunds and adjustments. this year, it's all equal.


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3 Re: Taxes Deducted and refunded on Thu Sep 09, 2010 12:25 am

sunshine


Arresto Menor
how will a person be entitled to a tax refund?

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4 Re: Taxes Deducted and refunded on Thu Sep 09, 2010 11:57 am

attyLLL


moderator
tax refunds are exceptions. it is not a rule that you get one every year.

at the start of the year, your expected annual income is computed and taxes computed then divided by 12 months. if there is an event which should lead to a recomputation, then it may result in a refund.

these events will be like having a new child, getting demoted or terminated from work. or in the case in 2009, a new law passed.


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