Tax Refunds: $5 Billion Handed Back So Far

Progress update number four on tax refunds from the Australian Taxation Office (ATO) shows we've slowed down on submitting returns, while the ATO has got faster at finalising them.

Out of the 3,216,000 returns received as of Monday August 6, 2,379,000 have been finalised, and 2,107,000 refunds have been issued. The total value of refunds to date is a whopping $5.11 billion dollars, which gives us an average refund amount of $2425.25 (up on the average last week — must have been some bigger-than-average refunds in this week's batch).

You can check out our full Tax Week 2012 guide if you're preparing your tax, and download e-tax if you're not working through an agent or accountant.

ATO


Comments

    Bigger is right, wrong box ticked on Tax form means 9.5k back for me, Happy Man

      May I ask what box you accidentally ticked?

        Yes I have a HECS-HELP debt, when he didn't?

    ^^ I do this deliberately because I suck at saving.

      Get better at saving and stop gifting the ATO a bunch of interest every year.

    Well that would make sense right? If fewer returns are submitted at a time, the ATO will get through them faster?

    I frcking hate tax!

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