How Australians spend their tax refunds

Our infographic tells you the average tax refund and how people say they spend it. We also explain some ways to make the most of your refund.

View the accessible text version of the infographic

Spend tax refunds - 1

How Australians spend their tax refunds (accessible text version)

  • 84% - Taxpayers lodge returns on time1
  • $2,574 - Average tax refund2
  • 33% - People do their own tax1

What MoneySmart users say they did with their tax refund3

  • 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

Check out our top tips for tax refunds.

Sources

  1. Australian Taxation Office Annual Report 2016-17
  2. data.gov.au, Taxation Statistics 2015-16
  3. MoneySmart poll, August 2015 (n-2124)

Related links


Last updated: 21 Jun 2018