As Queenslanders begin finalising their tax returns, RACQ Bank has released research revealing many are making strong financial decisions when it comes to their tax refunds, opting to put it towards savings or paying off debt.
RACQ Head of Banking Product and Operations Danica Allan said 57% of Queenslanders surveyed were planning to put their tax refund back into their savings account, an increase from 42% in 2021, and 24% would use it to pay off debt.
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