If you find yourself needing your tax return faster than the typical two week waiting period, this blog is for you. In this article, we will cover what instant and same-day refunds are, why One Click Life offers next-day refunds instead of same day or instant tax refunds, the next day tax refund fee structure, and an example of the One Click Life next day tax refund.
Every Australian looks forward to their tax refund, but they frequently must endure wait times that seem endless. If we told you there was a method to get your tax return the day after you file it, would you be happy? Thousands of Aussies have already used our Next Day Tax Refund service.
What is an instant tax refund and what is a same day refund?
As the name suggests, instant tax refunds offer immediate access to your tax return refund after you have filed it. A tax same day tax refund is a slightly slower process as it gives you access to your tax return funds anytime on the same day as you have lodged. Receiving your instant tax and tax same day refund may sound appealing, although they should be used with caution.
Here is a list of the pros and cons of the instant tax refund or same day tax refund schemes:
The pros:
1. Fast access to your money: Using an instant tax refund or a tax refund same day scheme will allow you to spend money on urgent matters, such as bills or medical procedures.
2. Reduced wait times: Having faster access to your money means you do not have to wait as long as typical tax returns which can take up to 2 weeks or even longer.
The cons:
- Potential errors in processing your tax return: If you are looking to receive an instant tax refund or a tax refund same day, many providers will lodge your return without having a tax agent review your tax return. This can lead to errors that will delay your tax refund. A delayed tax refund means the providers may charge additional interest and fees.
- Sketchy service providers: Unfortunately, the instant and same day refund space is filled with payday loan companies that want to provide you quick money at a high cost of money. These companies often charge high rates of interest and are filled with hidden fees that can cost you a lot of money.
Why One Click Life’s next-day tax refunds are better
One Click Life understands the need for quick access to your tax return refunds. That is why we provide next day tax refunds, which combine the benefits of fast access to money with an additional level of accuracy and security. Here is why One Click Life’s next day tax refund works so well:
- You receive your tax return refund fast: Just like receiving a tax refund same day or an instant refund, you have access to your refund faster than going to a regular accountant or direct to the ATO MyGov site. You can start spending your tax refund the day after you lodge.
- Added level of accuracy and security: A next day tax refund gives our qualified accountants time to review your tax lodgements. This reduces the risk of needing to refile your tax return due to errors. One Click Life offers full transparency on the next day tax refund cost and any additional fees that may apply.
One Click Life’s next day refund fees
One Click Life charges $99 for a standard tax return. The next-day refund is an optional extra that costs an additional $89. To pay nothing upfront and pay our fees using your tax return will cost an additional $19.
In summary, our fee structure is as follows:
$99 Upfront lodgement fee (standard lodgement fee)
+ $89 Next day refund fee (receive a refund the next day)
+ $19 Pay later fee (fee deducted from your tax refund)
= $207 total fees
We think $207 is good value to receive your tax refund tomorrow!
If your tax return is withheld by the ATO for more than 45 days, an additional one-time fee of $29 will be charged. You will also be responsible for the debt collection agency’s fees if we must refer the debt to debt collector for any reason.
One Click Life will make every effort to assist you so that you don’t incur additional costs.
One Click Life next day refund example
Debbie anticipates receiving a tax refund of $3,000. Debbie wants to receive her tax return the following day and would like to pay her fees later. Given that the next-day refund is limited to $1,000, Debbie will receive $1,000 the following day and $1,793 (the remaining refund amount minus the $207 lodgement fee), at normal processing time from the ATO.
For an in-depth look at One Click Life’s next-day tax return, click here.
Get your tax refund with One Click Life!
Dealing with an online tax agent is the simplest way to claim your tax return. The tax return process is made faster with One Click Life as we offer next day tax refunds. One Click Life offers an experience run by tax professionals that is easy to use and provides tax returns online right at your fingertips. Our app makes it easy to organise, track and manage all your life admin in one place, so you can spend time doing more enjoyable things in life.