Every year, the Swedish Tax Agency sends out income tax returns to millions of private individuals.
Earlier this spring, the first income declarations were sent out for the income year 2023 and then the payments began in April and then in June to those who were waiting for tax refunds.
However, those who have not had time to get their money paid out will instead receive it during the month of August.
Recently, the Tax Agency went out on its website and informed that those who were still waiting for money had between August 6 and 9 to ensure that all information was correct and that the correct bank account had been reported to the authority.
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Photo: Henrik Montgomery/TTPensionseconomen: Pay the right tax from the start
But not everyone gets positive news when the declaration drops into the letterbox. Some risk receiving back taxes, also called residual taxes.
In an interview with News24 explains the pension economist at minPension, Dan Adolphson-Björckwhat you as a private person need to think about in the event that you risk receiving back taxes.
– Of course, the easiest thing to do is to pay the right tax from the start. Many job holders, who combine work and pension at the same time, risk receiving back taxes because they have several incomes which can be difficult to overview and which are deducted according to different tax tables, he says and adds:
– It is also common to receive back taxes during the first years as a pensioner because several payers have tax deductions that are too low. For the main income, be it pension or salary, tax is deducted according to the tax table, but other pension income is deducted at a standard rate of 30 percent.
Instead, Adolphson-Björck believes that you should contact the pension companies and ask them to deduct a higher tax, something that he believes is easily arranged.
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Dan Adolphson-Björck. Photo: Press image minPension/Urban Jörén Residual tax to the Swedish Tax Agency? You should think about that
To reduce the risk of ending up in a situation where the return shows that you have to pay back tax, you should in the future keep track of both your annual income and how much tax is deducted, says Adolphson-Björck.
– If you know roughly how much annual income you have, you can use the Swedish Tax Agency’s calculator “Calculate your tax” which works for both salary and pension income.
It is also the case that those who are in the phase of completing their professional life can instead take part in the total monthly amount for the pension payments, both before and after tax, if you check the “Withdrawal planner” on minPension.
– As a pensioner, you don’t get your income on the 25th, but from four to six different sources with different payment days. Make sure to keep track of how much tax is deducted on the largest parts of the pension.
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142,000 are forced to pay back taxes now
In the past few days, the authority also announced that it had sent out final tax notices to nearly 1.1 million people. Of those, around 185,000 receive a tax refund, where the total sum of three billion kroner is to be distributed.
But those who instead receive notice of back taxes, nearly 142,000 individuals, must now instead pay money to the Swedish Tax Agency. The total amount amounts to over five billion kroner.
At the Swedish Tax Agency website an account of what applies if you are one of those who must pay back the tax.
“For those who receive the final tax notice now in August, the back tax must be paid by November 12 at the latest, but it is fine to pay already now or split the payment. The withholding tax must be paid within 90 days from the Tax Agency sending out the final tax notice. The date that applies is stated in the final tax notice”.
READ MORE: The Swedish Tax Agency’s request: You must do so by November 12 at the latest