How Australians spend their tax refunds
- 77% - Taxpayers likely to get a tax refund this year
- $2,283 - Average tax refund
- 27% - People do their own tax
(Sources: Australian Taxation Office Annual Report 2013/14 & 2012/13)
What MoneySmart users say they did with last year's tax refund:
- 29% - Paid bills
- 21% - Saved it
- 16% - Didn't get a refund
- 13% - Loans or credit card payments
- 9% - Home loan payments
- 5% - Holiday
- 5% - Other things (including engagement ring, education, car rego/tyres, party)
- 2% - Household appliances
(Source: MoneySmart poll, August 2015 (n-2124))
Make the most of your tax refund: Work out where you can make a difference
Reduce debt stress
- Credit cards
- Personal loans
- Mortgage
- Outstanding bills or fines
Stash it away
- Emergencies or unexpected costs
- Super
- Home deposit
Reward yourself
- Take a break
- Home improvements
- Pamper yourself just a little
The information contained in this newsletter is of a general nature only and does not take into account your particular objectives, financial situation or needs. Accordingly the information should not be used, relied upon or treated as a substitute for specific financial advice. Whilst all care has been taken in the preparation of this material, no warranty is given in respect of the information provided. Taurus Financial Services Pty Ltd its directors or staff, nor its employees or agents shall be liable on any ground whatsoever with respect to decisions or actions taken as a result of you acting upon such information.
