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LSDefine
Simple English definitions for legal terms
rebate
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A quick definition of rebate:
Rebate: A rebate is when you get some of your money back after you have already paid for something. This can happen when you buy something and then send in a form to get some money back. It can also happen when you pay too much in taxes and the government gives you some of your money back. Rebate can also mean when the government helps you pay for your rent.
A more thorough explanation:
Rebate is a term that has two legal definitions:
- A partial return of payment already made. This means that if you buy something and the seller offers a rebate, you pay the full price at the time of purchase and then receive some money back later. For example, if you buy a computer for $1000 and there is a $100 rebate, you pay $1000 at the time of purchase and then receive $100 back after submitting some documentation to the manufacturer or retailer.
- A government subsidy to assist with rent payments. This is also known as rent rebate. This means that the government provides financial assistance to help people pay their rent. For example, if someone is struggling to pay their rent, they may be eligible for a rent rebate from the government to help cover the cost.
Another example of a rebate is a tax rebate. This is when the government returns some of the excess taxes that a taxpayer has paid. For example, if someone paid more taxes than they owed, they may be eligible for a tax rebate to get some of that money back.
These examples illustrate how a rebate can be used to provide financial assistance or as a discount to the purchase price. Rebates can be helpful for people who need financial support or for those who want to save money on their purchases.