Nearly one million Australians are desperate for a cash injection at the end of the financial year to ease cost-of-living pressures, a recent survey has revealed. Comparison website, Finder, surveyed 1012 people, and found tax refunds are “critical” to the financial wellbeing of one in 10 respondents. Most of those who said a tax refund was essential were women — 42 per cent, compared to 28 per cent of men. The average Australian is expecting a $1288 refund.
Finder personal finance expert, Sarah Megginson urged people to use any return they receive to improve their financial situation. “Whether it’s paying down debt, parking it in a high-interest savings account, or investing it in your super — take advantage of the extra cash,” she said. “Don’t forget, stage 3 tax refunds are also being introduced on July 1, which will mean all taxpayers will have more bread in their basket at the end of each month.
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