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Australians are getting back $2,490 on average in tax refunds as lockdowns see more people get their paperwork done early.
Since the start of July, 2.1million refunds have been deposited into bank accounts, new Australian Taxation Office data showed.
That means a fifth of the 10million people earning up to $126,000 a year have already received their low and middle-income tax offset of between $255 and $1,080.
When that tax offset was combined with claimed tax deductions, average refunds paid out, so far, into bank accounts stood at $2,490 with $5.3billion returned to taxpayers since the start of the financial year four weeks ago.
Australians (pictured is a woman walking during the Sydney lockdown) are getting back $2,490 back in tax on average as lockdowns see more people get their paperwork done. Since the start of July, 2.1million refunds have been deposited into bank accounts, new Australian Taxation Office data showed
Nobel laureate Peter Doherty is predicting politicians will be reluctant to reopen Australia next year even as vaccination rates surge and people stop dying of Covid.
The immunologist, 80, renowned for discovering the role of T cells in the immune system, said Australians living through lockdowns were conditioned to the zero Covid strategy. We will get back to a more normal life next year I expect, but it is going to be difficult politically for the politicians to open up because there will be disease circulating and we are so accustomed to the idea that no virus should circulate, Professor Doherty told the ABC s 7.30 program.
When YOUR $1,080 in tax cuts should arrive in your bank account Stephen Johnson, Economics Reporter For Daily Mail Australia © Provided by Daily Mail MailOnline logo
Australians should start receiving tax cuts of up to $1,080 during the next few days.
In the May Budget, Treasurer Josh Frydenberg extended low and middle-income tax offsets for 10million people earning up to $126,000.
This will see 4.6million Australians earning between $48,000 and $90,000 receive $1,080 as another 1.8million people earning $37,000 to $48,000 get back $255.
Those earning between $90,000 and $126,000 will get back a smaller amount.
The new financial year started on July 1 which means tax cuts should start arriving next week.
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