We’ve been tracking the Australian Taxation Office’s progress in processing tax returns for quite a while now. While it has been interesting to see the size of the average refund fluctuate, we’ve been waiting for evidence of whether the ATO would meet its goal of processing 94% of electronically-submitted returns within 14 days. In its latest update, it confirms that this hasn’t happened, but the results aren’t very far off the mark.
According to the ATO, 92% of electronically submitted returns received in July have been finalised in 14 days. The magic 94% figure occurs after 15 days, and 95% of returns are processed within 16 days. (Previous figures had overall processing hovering around the 75% mark, but as those numbers didn’t distinguish when returns arrived or how they were submitted it was impossible to calculate whether the 94% goal was being met.) That leaves the question open of whether the numbers will rise or fall over August.
For the 2010-11 financial year, a total of 4.1 million returns have been received. 3.1 million have been finalised (which is 77%), and 2.8 million have received a refund — that’s 90% of you. The total refund pool is $6.73 billion, which means the average refund is now at $2331.
f4ction
Friday, August 19, 2011 at 1:32 PMI got my refund on my birthday, thanks ATO! I think I only waited a week too!
holmes182
Saturday, August 20, 2011 at 9:34 AMI’ve been waiting about 3 weeks for mine. It is quite a bit higher than the average so they’re probably having a good look at it.
Peter
Monday, August 22, 2011 at 11:39 AMI got my refund in 7 days. I have always thought the ATO is terrific and very professional.
cyc0tic
Monday, August 22, 2011 at 1:20 PMI am still waiting, my tax was handed in electronicly 3 weeks ago by my accountant, and still nothing. But my wife got hers last week. We are working on the view that the ATO is clearing out people who Owe the ATO money first.
James
Monday, August 22, 2011 at 9:35 PMSubmitted mine electronically and got it in about seven working days, right on pay day. It was a nice surprise, I thought it would take the full two weeks, possibly more.
Kelly
Tuesday, August 23, 2011 at 1:46 PM5 weeks and still waiting…
Astron
Wednesday, August 24, 2011 at 3:33 PMGot a letter saying it will be investigated and take a MINIMUM of 12 weeks to be processed. followed them up with a phonecall and apparently theres no issues with the claim, they didnt want my receipts or anything but because it got ‘Randomly’ flagged, i have to wait. Hopefully the interest theyre gonna pay me is worth it.
John
Sunday, September 25, 2011 at 10:20 AMLodged via accountant July 27th. Claimed $150 laundry, $30 in work purchases (two flash drives), 50% home internet – $600(i work in IT) and dependent spouse rebate (she was born prior to their 1971 phase out date). All claims legit..
Accountants estimate is return is just under $3,200
It is 8 weeks today since lodged. Got the 12 week letter in early August. ATO help line is useless, they cant tell you a thing.
Looks like its a waiting game – 24 more days left till I hit the 12 weeks.
Frustrating to say the least that the ATO is doing this ‘randomly’ to honest taxpayers who rely on tax returns to pay for measly things like car rego, electricity, phone etc..