The tax office reports that 5.5 million individuals had lodged their 2011-12 tax returns by early this month, and more than 4.2 million refunds totaling $9.76 billion had been paid.
The attraction of a decent refund can be a powerful motivation for millions of taxpayers to file their returns as soon as possible. And, of course, many taxpayers simply want to get the task quickly out of the way.
To date, the average refund is $2324 – enough to buy some decent electronic equipment or new summer fashions. Needless to say, struggling retailers would welcome the spending of your refund in their shops.