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.
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A Finder survey of 1,010 respondents revealed 38% – equivalent to 8.1 million people – expect a tax refund this year.
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Of those expecting a refund, 58% are planning to put it straight into their savings.
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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.
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Richard Whitten, money expert at Finder, said most Australians are treating tax time as an opportunity to catch up rather than splurge.
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"Many Aussies are feeling the squeeze and are counting on their tax refund to get back some breathing room.
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"Whether it's topping up savings, covering bills or chipping away at debt, most people are prioritising financial security over treating themselves."
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Whitten said many households have spent the last year fighting an uphill battle against rising expenses.
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"From power bills and insurance to weekly groceries and mortgage or rental payments, everyday expenses are draining bank accounts.
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"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."
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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.
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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.
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Whitten said you don't need a huge payout to make a difference.
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"A modest refund can still provide a valuable buffer to help you rebuild emergency savings, get on top of bills or lower debt.
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"While booking a getaway or buying something nice is tempting, putting your refund towards your future could deliver far greater rewards.
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"Stashing the extra money into savings, investments, or super can turn a quick win into real, long-term progress."
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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.
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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 |  |
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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 | |
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Credits
- PR & Insights research team: Taylor Blackburn, Kate Boddington, Natascha Kwiet-Evans, William Capada
- Survey operation: Qualtrics
Sources
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