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One in four tax refunds going to travel


Who doesn’t love seeing their bank balance spike after a tax refund … and then just want to spend at least some of it on their next holiday? At least one in four of us, apparently.

 

 

According to a new study by Skyscanner Australia, 25% of Aussies plan to use their upcoming tax refunds on travel, and with the average return amounting to some $2,000 (ATO Annual Report 2014-2015), we’re looking well beyond our own shores.

 

With each age-group preferring different destinations, the Australian Tax Refund Survey found Millennials (21-29 years old) were likely to holiday in Europe (28%), and Gen Y-ers (30-39 years old) in Asia (41%).

 

Males seem to love the east, with nearly half (46%) preferring a holiday in Asia, while women were splitting their preferences fairly evenly between Asia (24%), Europe (23%) and the Americas (21%).

 

Of the one in ten (9.7%) people who planned to use all of their tax return on travel, Gen-Xers (40-59) were the most likely to do so.

 

It’s little wonder we’re investing in travel too, as research shows more people look to vacations when they’re in need of a happiness boost than anything else.

 

According to Skyscanner, some of the best value destinations to splurge your tax return on are Bali and Osaka (for a budget less than $1000), Seoul and Paris  ($1001-$2000), and Croatia and Las Vegas ($2,001-$2,500).

 

Are you planning on spending some of your tax refund on travel?

 


Written by: Mark Harada
Published: 14 July 2017

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