A tax return tells the Australian Tax Office (ATO) how much money (income) you earn and if you’re claiming any deductions. All information below obtained from the ATO website www.ato.gov.au.
According to the Barefoot Investor, at the end of June 2021, the ATO issued more than 10.83 million individual 2019-20 refunds, totaling more than $30.53 billion with an average refund of $2,820.
Did you get a tax return last year? Did you use that return to your advantage?
If you get a rebate this year, try using it in one the following ways to get ahead of your finances: