MANY HAPPY RETURNS
It’s tax return time – and those lucky enough to get one back are using it to travel, according to new research. Analysis of ATO online lodgement figures by finder.com.au shows Australians getting money back will pocket about $2800 each – the perfect amount for a mid-year getaway.
Research shows Gen Y is most likely to splurge on a holiday, with 14 per cent saying they’ll be swapping their tax return for flights, compared to 10 per cent of Gen X and 8 per cent of Baby Boomers. And 12 per cent of Victorians will splurge on a holiday – double the amount of holiday-goers who come from South Australia.
Mark Davidson, Helloworld Southport, Qld, owner and manager, says July and August are traditionally busy periods for holiday bookings because of the number of people spending their tax returns.
“It certainly is a very popular thing to do,” he says. “For that kind of money we have a lot of people booking destinations like Fiji or South Pacific cruises, along with going to places like Vietnam.
“We have had quite a few people come in with their tax money and it’s interesting because we always have a spike in bookings at this time because of that.”
Angus Kidman from finder.com.au says tax returns provide a welcome cash injection in the middle of the year – and what better way to celebrate the gain of your new funds than by going on a holiday.
“Whether you put it towards a big holiday or go on a quick break over the next few months, $2800 gives you lots of travel options,” Angus says.
“You can maximise your return by travelling within Australian or by taking a road trip.”
New South Wales mother of two Jo Drago says she likes to use her tax return to book her next holiday.
“It always goes to the next one,” she says, laughing. “We have two trips paid for – in six weeks we are heading off to Portugal, Spain and Sicily, and then in January we are off to Bali with five other couples.
“In April, we are planning a family holiday, perhaps Port Douglas.”
Jo says she is always on the hunt for lastminute specials to destinations that are just too good to pass up.
“Next October, my husband turns 60 and he would love to go to Egypt,” she says.
“Holidays are so important as it is so exciting forward planning, and while we are still working and able to afford it.
“It’s great for our marriage as well as it is really the only break we get from a hectic life with family and work.
“We try and get away once a year and see new places each time.”