ATO Has Issued $11.5 Billion In Refunds

As we contemplate the latest figures from the ATO, here's one that's worth a pause: the collective value of refunds issued so far is $11.5 billion. Woah. But is it meeting its targets for processing returns?

As of last Friday, the ATO had received 5.81 million returns, and had processed 5.12 million of them. That equates to 88%, which is below its stated target of 94% within 14 days for electronic returns. However, since that percentage is a total figure which also includes non-electronic returns, I suspect that by the end of the tax period, the ATO will be claiming it has met the standard, despite the many people who complained about not getting refunds during July.

Progress report 6 [ATO]


Comments

    Been waiting 7 weeks for mine, posted using etax, on the phone with ATO for the 5th time as i type this!

    11.5 billion collected that was ''needed'',
    can i have the interest earned on that while it was waiting to be refunded.

    Wife and I received our filed ours 2 weeks ago - I had my refund within a week - she got hers today. Very efficient

    They were 2 weeks late with our refund

    Had no problem with mine. 2 week turnaround if that. (Being a student, though, it was a very simple deduction, as I earned just over the TF threshold, and the deductions you don't need proof of gave me it all back.)

    I did mine and my wifes last Thursday night, was in my bank account Monday! It wasnt a straight forward one either as this year we'd gotten married and had a baby, so all that additional stuff like name/address changes and baby bonus etc was in there too. Thought they did well to get it out that fast.

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