Overpayments of tax can happen for a number of reasons, but the most common reason is because your employer deductions are too high. This is because the tax deductions are an instalment system, not pay as you earn.
Overpaying tax before the year end
If you've sent in your current tax return, your tax effective rate will be updated once your assessment has been calculated. This will take into account the amount you have been paying.
If you haven't sent in your current tax return, you'll need to do this. The earlier you send in your return, the sooner your rate will be re-calculated.
If you've received your most recent tax assessment and revised effective rate and you'll still overpay your tax, telephone one of our tax advisers. Don't forget to take into account any outstanding tax from previous years that your payments will also be going towards.
We'll need to re-calculate your effective rate. Telephone one of our tax advisers.
If you don't pay your tax on a current year, you'll need to provide for the tax when it becomes due and payable the following year.
Request a repayment
If we've received your current tax return and calculated your tax and you've already overpaid you can telephone a tax adviser to request a repayment if this hasn't already been done.
Repayments can only be paid in the form of a cheque. We'll normally post this to the correspondence address within 10 days.
You can also request to collect the cheque. You'll need to let us have a daytime contact number and it'll normally be ready within 10 days. You'll need valid photo identification when you call into to collect it.
If you don't have a bank account you can request an open cheque. These can only be collected so you'll need to provide a daytime contact number and have valid photographic identification.
Repayment cheques can be made payable to a third party, but we'll need your written instruction to do this.