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April 19, 2010 | by  | in Opinion | [ssba]

Vice President Welfare

Hello!

Tax isn’t the hottest word that ends in x. But when it has return after it, it suddenly becomes that little bit more pleasing.

A lot of students pay too much tax and therefore are eligible for tax refunds. Applying for a refund it very easy, so don’t let anyone take a cut (yes you My Tax Refunds).

You are more likely to be eligible for a refund if you: worked while at school; worked for part of a year; received a lump sum payment (such as a bonus or redundancy); earned less than $9,880; had more than one employer during the year; used a secondary tax code when your total income was under $48,000; or have expenses to claim.

To figure out whether you are owned any money you will need to register for an IRD Online Services Account at www.ird.govt.nz (top-right “Register Now”).

Use the online Personal Tax Summary Calculator (search Personal Tax Summary Calculator). You will also need your Summary of Earnings which you can get from your Online Services Account, clicking View and Confirm, then Account Information, then INC – Income Tax.

If you are owned money, request a Personal Tax Summary. You will then get a refund of anything that is owed. DO NOT request a Personal Tax Summary if you owe tax as you will be required to pay any taxed owed. If you get stuck or have any questions give me an email and we’ll go from there.

Don’t get your refund only to then have to use it to pay off a huge power bill. If you are getting bills based on estimates and seem too good to be true, find your meter and give your provider the actual reading. Or you can monitor your flat usage daily and know exactly how much you’re spending with Powershop www.powershop.co.nz and avoid the shocks of a $1200 bill.

My flat has been with Powershop for almost a year and we’ve saved heaps, especially with things like not paying a daily line charge like you probably do (Internet Warriors/Salient blog trolls: I haven’t been paid or given free shit to mention this).

If you do get a stung with massive bill or a flatmate does a runner, don’t forget VUWSA can help you with things like a food bank, free bread, advocacy, and help accessing the Hardship Fund through Student Finance. Get in touch with us.

Seamus Brady

Vice-President (Welfare)
wvp@vuwsa.org.nz

[ssba]

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Comments (1)

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  1. Alpha says:

    This is possibly the most useful thing that has ever been published in Salient. Thank you. I will definitely use this next time; screw those bastards taking their cut when it’s this easy.

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