Tax Refunds: 85% Of Returns Processed

With almost 5 million returns received for the 2011-2012 financial year, the Australian Taxation Office (ATO) seems to be keeping on top of them. As of Monday, 85 per cent of returns received had been finalised.

According to the latest ATO update, 4,982,000 returns have been submitted, 4,252,000 have been finalised, and 3,775,000 have received a return. That still means more than 700,000 returns have been held up. The average return size is largely unchanged from last week, at $2222.52.

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.



    Current System: Government prints money. Government gives money to banks. Banks lend money to slaves. Slaves work to repay banks. Slaves give 30% of their labour to government as tax. Government uses tax to build hospitals and other civil works. Slaves must be thankful for this generosity.

    Proposed System: Government prints money. Government uses money to build hospitals and other civil works. Make ATO and bank staff get real, productive jobs instead of leeching of the hard work of others.

      Haha you are funny.

      Print money? Why didn't anyone else think of that! Oh wait...

    Sorry, but how is this a life hack?

      You must be new here...
      Lifehacker isn't just about "lifehacks"; Lifehacker also write stories about money, among other things...

    this reminds me I must do mine soon...
    need the money to pay off the honeymoon

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