ROS calculation of credits

[cookies]

Hi just wondering if someone knows about this.

I am self employed, and my tax liability this year is lower than my credits, (I only get the 1830 personal credits) so when I manually calculate my tax liability I get an end minus figure.

However when ROS calculates my credits at the end, it just gives me enough credits to balance the figure out to zero which is much less than the 1830 owed.

If your calculated tax liability is lower than your credits and you get a minus figure does that mean you're owed that tax back? Even though you haven't paid any tax yet for that year?

thanks!

 

[papervalue]

Hi just wondering if someone knows about this.

I am self employed, and my tax liability this year is lower than my credits, (I only get the 1830 personal credits) so when I manually calculate my tax liability I get an end minus figure.

However when ROS calculates my credits at the end, it just gives me enough credits to balance the figure out to zero which is much less than the 1830 owed.

If your calculated tax liability is lower than your credits and you get a minus figure does that mean you're owed that tax back? Even though you haven't paid any tax yet for that year?

thanks!

The ros calulation is correct. To get refund you actual had to have some tax actual paid.

does not give reund of unused credit

 

[cookies]

thanks a mill