Tax Refunds: Average Refund $2458, Processing Looking Challenged

The Australian Taxation Office has a stated goal of processing 94% of electronically submitted returns within 14 days of receipt. While it has issued one billion dollars in total refunds for the 2010-2011 , it might still have trouble reaching that goal.

When we last checked the figures on Monday, the average refund for 2010-2011 returns was above $3000. In its latest update, the ATO says it has received almost 1.3 million returns (with almost half of those through e-tax), has finalised 460,000, and has issued 419,000 of them. The total value of refunds issues is $1.03 billion, which gives an average refund of around $2458.

The bigger challenge for the ATO is that on these figures, it has only processed just over a third of the returns submitted. While a large chunk of those (739,000) came in over the last week and thus haven't hit the 14-day limit, the ATO will need to work hard to get those knocked over and meet its 94% goal.

With that said, it anticipates an additional half a billion dollars in refunds over the next two days. However, as that figure includes both 2010-2011 and older returns, that in itself doesn't guarantee the targets will be met. We'll keep you posted as new data comes to hand.



    I'm one of those who submit their tax return in the last week (and via eTax). In my case, my estimated refund is around the $1500 mark. Eagerly awaiting that one to come back!

    Not looking forward to doing my tax at all :(

      Neither was I. I thought for sure I was going to be whacked with a tax bill (was unemployed for the first 4 months of last financial year, and didn't pay a cent of tax on my taxable centrelink payment).

        But then the next 8 months you would have been taxed as if you're earning that much for the whole year. So between the tax free threshold and progressive rates, I would have expected you to get a good refund.

        Same happened to me last year when I was travelling and only doing some casual work for part of the year, before going back to work.

          This is true - however I was only paying tax for 8 out of the 12 months.

          The other benefit of it was that my week-on-week tax was calculated on the assumption of me earning ~$42k, Where as I only clocked in at about ~$24k; putting me in a much lower tax bracket.

          In either case, I'm looking forward to a new couch, and a new TV :D

    Last year I got $3000+ back. This year, $2800. Pretty happy, considering this is a big move towards getting my home startup business flying.

    Hmm...I got mine back within 5 days of lodging electronically. Plus, they gave me 200 bucks more than my estimate (which was about average)

    So the average is 3 times what I got back. Lame. At least I got mine within 7 days, that's impressive.

    Got my estimate today, $220 - $135 account fee :(

      Do you mean accountANT fee? because the ATO doesn't charge account fees. Use etax, skip the accountant.

    Did my tax via H&R Block around the 8th. Got an email from them on the 10th saying it's been accepted and processed by the ATO.

    Got my assessment yesterday, now the waiting game.

    I need it ASAP, I need to renew my license, fix my tail lights, get my pink slip, green slip and rego all before the 30th, or no getting to work for me.

    Joyfull times.

    I got $550.00 back. Money I didn't have before, super happy.
    Working for the tax office, I can't stress enough how easy eTax is if you take the time to sit down and nut it out. Especially if you have really simple tax affairs, if you're stuck on a question, call through to the ATO.
    Better to spend a few hours on the computer, then shell out nearly $150 for some place that basically does the same thing and gets it back within the same time frame.

    I am expecting around the $1400 mark. Submitted my return a week ago on the 21st and still no sign of my assessment or payment, whats the payment times been like for everyone else this year?

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