Filing tax returns can lead to a tax refund - but due to changes in tax laws this year, your refund might be smaller than anticipated. Lodging tax returns is often done with a sense of expectation, knowing that it could lead to a tax refund. In 2021, for example, the average tax refund for Australian taxpayers amounted to $2800 . However, this year, there's a possibility this figure could be notably reduced, or even lead to taxpayers owing the Australian Tax Office (ATO) money. Amid ongoing cost-of-living pressures and an increasingly price-conscious consumer environment, it's worth knowing about the nuanced changes that will impact taxpayers with their lodgements for this year's tax returns.

https://www.miragenews.com/why-your-tax-refund-this-year-may-have-shrunk-1070937/

#miragenews