Smart ways to make the most of your tax refund

Smart ways to apply your tax refund

Put your return to good use this financial year.

Robyn Slater
Robyn Slater12 Jun 2025 ・ 2 min read
Home loans
Personal loans

This tax time, your refund could be a great opportunity to set yourself up for a strong financial year ahead.

Whether you're looking to reduce debt, grow your savings, or invest in your future, here are a few ways you could make the most of your return.

1. Pay off debts

Whether it’s a home loan or personal loan, putting your refund toward your debt could help you save on interest over time. Reducing debt could also free up your monthly budget for savings goals, or give you more breathing room for other expenses.

2. Boost your super

Making even a small contribution to your superannuation could make a big difference over time. Depending on your income, you may even be eligible for the government’s super co-contribution which could give your retirement savings a boost.

3. Make property repairs or upgrades

If you’re a property owner, your refund could go towards maintenance or value-adding improvements. Home renovations and repairs could help enhance your space and increase the value of your property.

4. Top up your emergency fund

Topping up your savings could be a smart way to help maximise your refund. A healthy emergency fund could offer peace of mind when unexpected expenses arise, and help you stay on track later.

5. Add to your home deposit

Your tax refund could give your homeownership goals a helpful nudge forward. Putting some extra cash towards your deposit could unlock property opportunities which may have otherwise been out of reach.

Need help making a plan?

A tax refund can be more than just a financial bonus – it’s a chance to take meaningful steps toward your goals.

A lending expert, like a Liberty Adviser, can help keep your plans moving forward.

Speak with a Liberty Adviser today for support to achieve your lending goals in the new financial year.

Robyn Slater
Robyn SlaterAuthor
Robyn Slater is a writer for Liberty with a passion for simplifying complex concepts using clever copy. She enjoys playing social netball and keeping up to date with all things pop culture. Robyn is currently completing a Bachelor of Business at Deakin University.

Related Articles

Financial Resolutions Blog
Tips for sticking to your financial resolutions

Helpful hints for keeping things on track this year.

Personpaintingaspartofahomerenovation
Fast-track projects with a home renovation loan

A handy tool to help transform your space sooner.

house with checklist and coins
Flexible features to look for in a home loan

Explore how different features could help you get closer to your goals.