Want to get your tax refund super fast? Then the next-day tax refund is just what you need! Instead of waiting for the ATO to process your tax return, you can have part of your refund in your bank account the day after lodging.
Here's how it works: You can get up to $1,000 or 50% of your total tax return the very next day. The rest of the refund will be transferred to you as soon as the ATO releases it, and the fees are taken care of during that process.
Now, we know this option might not be for everyone, but it's a fantastic tool for those who need access to their money urgently. There are many reasons why you might find our next-day tax refund useful, such as covering student fees, car repairs, urgent bills, rent or mortgage payments, or even funding a family holiday.
Let's talk fees! The standard tax refund lodgment fee is $99 upfront, which covers the usual service. If you prefer to pay the fee later using your tax refund, that's totally fine, but it comes with an additional $19 administrative fee. If you're eager to get your tax refund the very next day, there's an extra $89 administrative fee for that option. Keep in mind that the maximum amount you can receive through the next-day refund is $1,000 or 50% of your total tax return.
So, to summarize the fee structure:
- $99 Upfront lodgment fee (standard lodgment fee)
- $19 Pay later fee (if you use your tax refund to cover the accountant bill)
- $89 Next day refund fee (to receive your refund faster)
All combined, the total fees would be $207.