Pays for your holidays!
Well, it’s closer to lending you your own money out of your tax contributions, but still!
What I learned today gives a whole new slant on the term “tax holiday”! Loosely speaking the government adds up your tax bill for the year and then divides it up into 10 and a half payments.
This enables you to pay no tax in July (the holiday month) and half tax in December (to pay for Christmas).
How brilliantly simple is that? OK, the cynical might say that it is manipulative and the government are interfering unnecessarily. But lets face it, lots of people are rubbish with money and this arrangement at least allows a little extra cash in your pocket at those times of the year that you most need it.
Merry Christmas! (from me and the Norwegian Gov!)