We didn’t the average refund from the ATO in our last processing update, so let’s have a gander at the newest numbers. As of October 5, the ATO had received 7.276 million returns, finalised 6.708 million of them, and issued 5.782 million refunds with a total value of $13.88 billion.
That means that 86 per cent of us get a refund, and the average amount is $2400.55. Of course, the average isn’t particularly representative of what any one individual will get, but we don’t have the individual data to calculate the median figure, which would otherwise be more helpful. While you might expect the average to drop as later-submitted returns trickle in before the end of October, in reality many of those will be from people who owe money, so that won’t affect the average refund figure.