The Taxing Times report 2013

financial indicator series

10 July 2013

Introduction

Australians are proving themselves smart planners when it comes to making the most of their tax return by prioritising sound financial goals over more exciting spends on life’s luxuries, research by Bankwest shows.

The fifth annual Taxing Times report, part of Bankwest’s Financial Indicator Series, reveals that close to two in five (35.6%) Australians will use their tax refund to pay off debt while almost a third (31.5%) will put their mid-year receipt into savings. The findings are in line with recent Bankwest research showing Australians are increasingly sophisticated managers of their money as the economy cools.



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