TAX NEWS - JUNE 2010

WA Tax: WA Likely to Have More Tax Refunds

As per the reports of Bankwest, Western Australians are likely to get $2,800 inform of tax returns from the tax department, which is 18% more as compared to rest of the Australians.

Reduction of 13%, from an average national tax return has been recorded this year

Bankwest's Adam Connolly said that people are more likely to save this year as against the other years.

He further iterated that Western Australian's being more confident than rest of their counterparts, may not put their tax returns in saving.

On an average, South Australians tax refund is going to shrink by 3% to $2345 this year. While around 42% Australians are expected to have $1000 as tax return. Moreover, it is feared that 1% may have to deposit the tax again.

Bankwest Retail Chief Executive, Vittoria Shortt quoted, "People are being far more cautious with their returns than in previous years and using their refund to save or reduce debt".

Federal Government is planning to go ahead with taxation review plans of making $1000 as standard deduction then next year could be last year to see the traditional tax return system.

As per records of last year, available from the Australian Taxation Office only 17.7% out of 14.8 million returns have filed personal tax returns using online services.