Many Australians overpay when filing their income tax returns without even realising it. You may be due a tax refund if you’ve been taxed incorrectly, or if you worked overseas or only worked part of the year.
The average tax refund in Australia is approximately $2,600. This amount is dependent upon a range of factors like the duration of work, the amount earned, the amount of tax paid, and any tax deductions you’re eligible for.
Tax regulations are complex and change every year. The expert tax agents at Colby Business Services can help you lodge your tax return correctly and identify all of the relevant tax deductions that you’re entitled to, which in turn will maximise your tax refund and ensure the money lands in your account as quickly as possible.