Tax
Year-end adjustment
Often called tax refund
At the last payroll of the year, or your last pay if you leave, your employer recomputes the year's tax and settles the difference.
Most useful for: Fresh grad, Career shifter, Government
- In real life
- Too much withheld comes back to you by 25 January, or with your last pay if you leave. Too little comes off that last pay.
- Why it matters to you
- A bigger or smaller December payslip is often this, not a mistake.
An explanation to help you read your pay, not a ruling on your case. Your employer, the agency or DOLE has the final word.