Stash over splash: 58% of refund hopefuls plan to lock away tax cash
Key takeaways
- 8.1 million Australians are expecting a tax refund this year.
- 14% will use their refund to cover household bills.
- 6% plan to put it towards paying off their mortgage.
A tax-time cash injection will go straight into household savings or to pay the bills, according to new research by Finder.
A Finder survey of 1,010 respondents revealed 38% – equivalent to 8.1 million people – expect a tax refund this year.
Of those expecting a refund, 58% are planning to put it straight into their savings.
The research found 14% say they will use the windfall to pay for household bills, while 6% plan to put it towards paying off their mortgage. The same number (6%) say it will go towards a holiday.
Richard Whitten, money expert at Finder, said most Australians are treating tax time as an opportunity to catch up rather than splurge.
"Many Aussies are feeling the squeeze and are counting on their tax refund to get back some breathing room.
"Whether it's topping up savings, covering bills or chipping away at debt, most people are prioritising financial security over treating themselves."
Whitten said many households have spent the last year fighting an uphill battle against rising expenses.
"From power bills and insurance to weekly groceries and mortgage or rental payments, everyday expenses are draining bank accounts.
"It's reassuring to see that so many people are looking at their refund as a tool to bolster their finances rather than cash to blow on a whim."
The research shows 4% of those expecting a refund intend to pay off their credit card, while the same number (4%) plan to go on a shopping spree.
Investing in shares (3%), paying off buy-now-pay-later debt (2%) or a personal loan (1%) are the other ways Australians plan to use their refund this year.
Whitten said you don't need a huge payout to make a difference.
"A modest refund can still provide a valuable buffer to help you rebuild emergency savings, get on top of bills or lower debt.
"While booking a getaway or buying something nice is tempting, putting your refund towards your future could deliver far greater rewards.
"Stashing the extra money into savings, investments, or super can turn a quick win into real, long-term progress."
Finder's research shows 1 in 4 Aussies (25%) don't know if they'll get a refund or a bill this financial year, while 15% say they expect to owe money to the ATO.
Do you expect a tax refund or a tax bill at the end of the financial year?
| Tax return (money back) | 38% |
| Tax bill (pay money to the ATO) | 15% |
| I don't pay any income tax | 21% |
| I don't know / I haven't looked into it yet | 25% |
| Source: Finder survey of 1,010 respondents, May 2026 |  |
How will you primarily use your tax return/refund?
| Put it in savings | 58% |
| Use it to pay household bills | 14% |
| Put it towards paying off my mortgage | 6% |
| Use it on a holiday | 6% |
| Go shopping | 4% |
| Pay off my credit card | 4% |
| Invest in shares | 3% |
| Other | 3% |
| Pay off my buy now pay later debt | 2% |
| Pay off my personal loan | 1% |
| Source: Finder survey of 388 respondents expecting a return, May 2026 | |
Credits
- PR & Insights research team: Taylor Blackburn, Kate Boddington, Natascha Kwiet-Evans, William Capada
- Survey operation: Qualtrics
Sources
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