The Coalition Government has welcomed the news that the Australian Taxation Office (ATO) has paid over $5.3 billion dollars in tax refunds this month.
The ATO has advised that over 2.1 million refunds have arrived in bank accounts. The average refund amount of $2,490 contributes to a total of over $5.3 billion refunded so far this tax time.
The injection of over $5.3 billion into the economy is welcome news during the current COVID-19 pandemic. Australians should be confident in the Government’s plan for economic recovery and support for individuals and families across the country.
Many of these refunds will include the Morrison Government’s Low- and Middle- Income Tax Offset (LMITO) introduced in 2019. Just under 10 million Australian low and middle income earners will receive a benefit of up to $1,080 when they lodge their returns this tax time.
The ATO has also launched the 2021 Tax Help program, a free and confidential service that assists around 30,000 people with simple tax affairs each year. The Tax Help program is open to anyone with simple tax affairs, earning around $60,000 or less in salary or wages.
Taxpayers who are not eligible for the Tax Help program may be able to access the National Tax Clinic program, a government-funded initiative independent of the ATO. The initiative helps those who may not be able to afford professional advice and representation with their tax affairs.
The Tax Clinics are free of charge, with sessions held over the phone, through web-conferencing, as well as in person at some locations.