Q: What is a tax return? I have a job - started a month ago and i hear people here and there talk about it but I have no idea what it is. I'm 15 years old living in New Zealand and i get tax deducted from my pay but I thuoght it goes to the government? Can someone please tell me what is a tax-return, how to get it, why do we get it and when do i get it? thanks
A: In America, they take a certain percentage of your paycheck based on how much money you have made so far in the year. my guess is that its the same in New Zealand. After the end of the year you fill out the appropriate tax documents and if you made under so many dollars or if you can claim a lot of deductions, they will probably give you all your money back in one big check. Otherwise they hold onto the money for you so you don't have to write them a big check later when you might not have the money. in America you can fill it out as late as April 15th. I am sure New Zealand gives you ample time. If you are 15 and don't make too much money it will probably be easy to fill out and you just mail it in the government.