On its eighth progress report for 2011-2012 financial year tax returns, one thing is clear: the Australian Taxation Office (ATO) gives out a lot of money. As of Monday September 3, just under $10 billion in refunds had been issued.
Per the latest ATO update, 5,453,000 returns have been submitted, 4,794,000 have been finalised, and 4,224,000 have received a return. The total refund figure is $9.76 billion, which gives an average return of $2310.60.
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.
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