Tax Refunds: Average Amount Now At $2171.79

Progress update number three on tax refunds from the Australian Taxation Office (ATO) shows we're still working hard on our tax returns: 835,000 were received in the week up until July 30. Of the almost 2.5 million returns received so far, more than 1 million have been submitted using e-tax..

Out of the 2,496,000 returns received as of Monday July 30, 1,353,000 have been finalised, and 1,234,000 refunds have been issued, with a total value of $2.68 billion dollars. That means just under half of all submitted returns and 91 per cent of finalised returns have received a refund, with an average amount of $2171.79. (As we often point out, if you're not expecting a refund, you're less likely to submit a refund.)

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

    Ended up just shy of $8K. Incidentally, I also discovered that I'd been paying nearly double the tax I was supposed to...

    I only got $100 back this year. One of my employers under taxed me while the others over taxed me. They cancelled each other out in the end. Spewing!

    I got just over a grand back, which was nice considering last year I some how owed $80.... go figure that one!

    One company I worked for didn't pay the right amount of tax BOTH times they paid out my annual leave (first time I was changing positions, 2nd time was when I left), so I ended up with over $1000 in debt one year, and only getting $50 back 2nd time. My close to $1400 return this year is just fine.

    Just shy of 4k this year best one ever! Last years tax return was going to be a $3000 debt, cos my employer only took 4% hecs instead of 8... I went to a good accountant, and for $75, some how got $900 back. And the remaining of my hecs debt will be gone in a little over 3 months... hello $850 a month pay rise!!

    And for those people getting screwed, always check your pay slips. The ATO has a calculator on their website for PAYG tax withholding

      My payslip matches the ATO calculator, but somehow, even with a small LITO, I still ended up with a $30 bill this year.

    I had 3 years of leave (12weeks!) paid out when I left my previous job in December last year, and of course got taxed for about half of it, thought I'd see some of it back at tax time...but my return is less than a weeks wages, well below the normal, let alone that huge payment. I have a very simple tax return. 1 income, a few grands in claims, 2 dependants, nothing fancy, thats it. Pretty disappointed. Thinking I might go to a pro.

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