The Australian Taxation Office (ATO) informed that individual lodgments received till tax time this year are around 1.7 million, a rise of nearly 12% for the same period last year.
The ATO disclosed that over 457,000 individual refunds have been issued as of 14 July, totalling more than A$1 billion.
In such a disrupted COVID-19 turmoil, the return of ~A$1 billion to the Australians is welcomed as a great news and will offer a huge cash uplift for the economy.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.
As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.