Every year income tax is deducted from labor and you are obliged to file a tax return for 2016. With these tips, you will receive something!
Doing tax returns
The annual (retrospective) filing of tax returns is mandatory for most people. You will receive a message about this from the tax authorities. Although this job is known to be not particularly fun, modern technology is nowadays very common. Moreover, it can also give you something if you do it smartly!
How does tax declaration work exactly?
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Tax works as follows: every month you pay wage tax and premium on income (wages, benefits or pension, for example). After the end of the year, it is important that you file a report. This ensures that the tax authorities can check whether the amount you have paid is correct. This means that you will receive a refund as a result of a tax return or you have to pay extra. Tax declaration is nowadays a lot easier than before. For example, you can file a declaration on the computer via a program, via the special app, or old-fashioned on paper. It is important that you choose a method that you find pleasant and easy!
When do I have to file a tax return
You submit the tax return on the consecutive year, from 1 March to 1 May at the latest. In some cases, postponement can be requested until 1 September. If you arrange your tax return before 1 April, you will receive notification from the tax authorities before 1 July. So it’s smart to be there on time, so you know where you stand. This is also nice if you get money back: you will receive this as soon as possible. Reporting too late can also lead to an unnecessarily high fine.
Submit a tax return if this is not mandatory
Not everyone receives a message about making a declaration. However, it may be smart to file a tax return if this is not mandatory. For example when you are older or ill, or for young people with a part-time job. You can sometimes get money back in these cases. Do well in the various deductions.
Write deductions and tax returns
To avoid having to pay too much tax, it is important that you know what you are entitled to. There are several deductions that you may be able to claim. These can be found on the website of the Tax Authorities. Always check whether the automatically entered data is correct.
Tax declaration and good administration
To make your Tax Declaration easier, it is useful to keep track of your data and organize it. Messages nowadays come in both by mail and digital. Put it in a separate folder (you can also print the messages) and use binders with tabs to keep it organized. On the website of the National Institute for Budget Information (Nibud) you can find more tips for a clear administration!