Tax Returns: 9 Million In And Counting

We've passed the October 31 for submitting your 2010-2011 tax return, so there won't be too many more updates from the Australian Taxation Office on how quickly it is processing returns. As of November 2, 8.988 million returns had been submitted, and 6.884 million had resulted in a refund.

The average refund amount currently stands at $2431.72, though it would be more useful to know the median amount (something we can't calculate from the existing public data). The ATO has a stated goal of processing 94 per cent of electronically-submitted returns within 14 days; we won't know if it has met that goal until at least November 14. It has processed 91 per cent of the total group as of November 2.



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