Our infographic tells you the average tax refund and how people say they spent last year’s tax refund. We also explain some ways to make the most of your refund.
How Australians spend their tax refunds (accessible text version)
- 82% – Taxpayers likely to get a tax refund this year 1
- $2,112 – Average tax refund2
- 26% – People do their own tax1
What MoneySmart users say they did with last year’s tax refund:3
- 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
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
Sources:
1 – Australian Taxation Office Annual Report 2013/14
2 – Australian Taxation Office Annual Report 2014/15
3 – MoneySmart poll, August 2015 (n-2124)
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