Did you know that the Australian Tax Office (ATO) is giving additional tax refunds to Australians of up to $1,080 for some people who paid tax in financial year 2018/2019? Before you think “probably not me”, 4.5 million Australians will qualify for the tax refund!
$1,089 would get you this ensemble bed in a double size…
Not bad for just $9, plus we’ll deliver it for free if you live in Queensland.
Or you could get this fantastic memory foam mattress in a King size…
and have $230 to spend on accessories to decorate your bedroom and get a comfy look like this for winter…
Do you qualify for the refund?
It all depends on how much you earned between 1st July 2018 and 30th of June 2019. Here is how much you’ll get back based on what you earned in that period…
- Less than $37,000 = $255 tax refund
- $37,000 - $48,000 = Gradual increase from $255 to $1,080
- $48,000 and $90,000 = $1,080
- Over $126,000 = no tax refund
To work out how much you earned in that period you’ll need to either…
-
If you’re employed, get your “Group certificate” from your employer.
If you haven’t got it yet, just ask your HR or Accounts person. Depending on the company they are normally issued in July after the tax year ends. - If you’re self-employed, ask your accountant for your total earnings for that period.
Before you get too excited these are the brackets for the tax refund and the actual amount you receive is based on personal circumstances. However, the goal of the refunds is to get the Australian public spending, so it’s in their interest that you get something back.
How to get your refund
Now they aren’t going to just refund you without a little work! To get the refund you have to put in your 2018/2019 tax return. Some people are really on to doing these and get it done the first week of July, other leave it till later in the year. To get your refund and new bedroom as quickly as possible, you need to get that tax return in asap!
When will you get your money?
If you’re eligible for a refund, you’ll then receive it over the coming months. At the time of writing (July 2019) over 650,000 people have filed their returns, so there is a bit of a backlog and the Government has asked the ATO work weekends to catch up!
What if I can’t wait for the tax refund to get my new bedroom?
Here at Mobile Mattress, we have a few payment options to help out. By far the most popular is Afterpay, which gives you interest-free credit, as long as you keep up with the fortnightly payments. We’ve written a guide to using Afterpay here.
We’d just like to stress that it’s hard to say when you’ll get your tax refund and that not everyone will get one, so make sure if you do use Afterpay or a credit card that you are able to make the repayments.
