6 August 2019 · Tips N' Tricks

Make The Most Of Your Tax Refund

Are you getting a refund this year? What do you plan to do with it?

5 Ways To Spend Your Tax Return On Your Mazda

SAVE IT FOR A DEPOSIT: Whether you’re planning to purchase or lease a new car, saving your tax return to use later as your deposit can be a smart idea. Generally speaking, the higher the deposit amount, the lower the monthly payments will be.

SAVE IT FOR A RAINY DAY: Every vehicle, at some point will need some sort of maintenance. To protect yourself (and your wallet), you can stash away your tax return for a rainy day when your vehicle may need its scheduled servicing or unexpected repairs.

SPLURGE ON A NEW SET OF WHEELS: We aren’t against you treating yourself to something fun. In fact, one great way to use your tax return is by finding a a new car at an affordable price, depending on how much your tax return is worth.

SPLURGE ON CAR ACCESSORIES: Again, there’s nothing wrong with splurging, and car accessories is one great way to customise or personalise your ride.

NEW TYRES: Many drivers put off purchasing new tyres due to the cost. But as this is safety issue for your car, if you have been putting it off now is the time to do it.

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Whether it’s a major windfall or just a drop in the bucket, your refund should feel like 'found money' and if you’re smart, you can put it to work for you and improve your financial situation. You could even treat yourself to a new Mazda 😜

According to ASIC's Money Smart Financial Guide:
✅ 84% Australian Taxpayers lodge their returns on time
✅ The Average tax refund is $2,574
✅ 33% of people do their own tax

Here is how Australian's on average spend their tax refunds: