2007-03-03 20:51:19 · 9 answers · asked by Brendon A 1 in Politics & Government ➔ Other - Politics & Government
it means you are getting money back!
2007-03-03 21:32:49 · answer #1 · answered by Anonymous · 0⤊ 0⤋
It is a reduction in the tax payable to the Government,to serve a social or economic goal of the State. For example, rebates are given for mobilising savings. These have the effect of withdrawing large sums of cash from circulation in the economy and helps to control prices. There are rebates given for promotion of Research and Development in selected areas of technology or Science. Rebates given to Senior citizens and women, Handicapped persons etc. help the concerned sections of vulnerable people.
2007-03-04 05:02:38 · answer #2 · answered by Anonymous · 0⤊ 0⤋
A tax rebate is a loan you have made to the government, they decide to "reward" you by returning it, but end up charging tax on the money again in the future. It's a scam they like to pull to gain points for a future election.
2007-03-04 05:02:19 · answer #3 · answered by G-money 1 · 0⤊ 0⤋
Simply put, it means the tax assessment for your bracket has been re-evaluated and apportioned to a lower equivalent. To use round numbers, if you were taxed at 10% of your income and the re-evaluation structured the deduction at 8%, you'd receive that 2% as a tax rebate.
2007-03-04 05:05:00 · answer #4 · answered by goaltender 4 · 0⤊ 0⤋
It's an advance on any tax refund that you may receive when you complete your income taxes the following year. For example, if you g0t a $250 tax rebate from your state last year, this year $250 will be deducted from your tax refund. And if you owe taxes, you will owe $250 more. Nice huh?
2007-03-04 04:55:49 · answer #5 · answered by e. nigma 2 · 0⤊ 0⤋
It's like a rebate on anything else. Tells you how much money (if any) you are going to get back from the government.
2007-03-04 04:53:31 · answer #6 · answered by Pauly 3 · 0⤊ 0⤋
On certain transactions (import/export etc.) the government offers tax cut to promote business in that area. It means a discount on your payable tax.
2007-03-04 04:54:52 · answer #7 · answered by irf 4 · 0⤊ 0⤋
It means the money you so willingly loaned Uncle Sam the year prior to that you are filing, is rightfully being returned (minus a few bucks) and without interest.
2007-03-04 05:00:13 · answer #8 · answered by VidaLoca411 1 · 0⤊ 0⤋
It means you need an accountant to handle your finances.
2007-03-04 04:53:07 · answer #9 · answered by Tanktunker 2 · 0⤊ 0⤋