Most Early Tax Return Submitters Get Refunds

Earlier this week, we reported on the Tax Office acknowledging glitches with tax return processing despite having processed more than 2 million tax returns so far. A memo issued to tax agents today offers another glimmer of hope: most people submitting a return so far have received a refund.

The memo doesn't offer any new numbers in terms of returns processed, but does include one notable statistic: of the more than 2 million returns submitted to date, 1.9 million have resulted in a refund. So far, the ATO has paid out over $4 billion in refunds, which suggests an average return of more than $2,000.

It's not entirely surprising that early submitters get so many refunds: after all, if you know there's a tax bill, there's no rush to get issued with an assessment ahead of time. Knowing that refunds are being issued is doubtless cold comfort to people who are still experiencing delays, but it's an interesting insight nonetheless.

ATO


Comments

Be the first to comment on this story!

Trending Stories Right Now