Ways To Micro Invest Your Tax Return

What is micro-investing?

With micro-investing, you invest small amounts of money to build an investment balance. If you constantly make small contributions over time, you can earn more — more than if your money is in a savings account.

Say, with your debit card, you purchase something for $4.70. The total purchase amount is $5 as it’s rounded up. The 30 cents goes into your investment fund — small amounts that add up to a considerable investment balance over time.

What you can also do is to set up a regular recurring investment or deposit lump sums into your investment fund. These are then invested into a portfolio of shares or low-cost exchange traded funds (ETFs).

You can monitor your account balance through apps or online.

There are fees involved in micro-investment namely brokerage fees, subscription or management fees, cancellation fees, withdraw fees, transaction fees, and account opening fees, among others.

Micro-investing in Australia?

Micro-investing is still quite new in Australia. There are some spare change apps now for Aussies, which let them invest small amounts at a time into the stock market. Check these apps below.

Raiz Invest

Raiz Invest helps you save & invest starting with virtual spare change from your everyday purchases and invest this into a diversified portfolio of stocks and bonds. You can easily get started in minutes: anytime, anywhere.

Raiz Invest app

App StoreGoogle Play


Need help saving? FirstStep helps you automatically save and invest your loose change.


  • Open an account in minutes
  • Set a goal and track your progress
  • A professional investment account
  • Build a personalised and invest in Tech, Ethical, Asia and Health trends
  • Automatically invest loose change from everyday purchases
  • Set recurring deposits as low as $5
  • Check your account value from anywhere in the world
  • Withdraw to your bank account at any time
  • Automatic spend categorisation (Beta)
  • Timely investment notifications
  • Fast and friendly support via chat
  • Tips and tricks to help you become a pro with money

FirstStep app

App Store

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CommSec Pocket

CommSec Pocket lets you invest anytime, anywhere, with as little as $50. Choose from seven themes to easily invest in something that appeals to you — like tech, sustainability leaders, or the biggest 200 companies on the Australian market.

CommSec Pocket app

App Store Google Play

Spaceship Voyager

Spaceship Voyager is an investment product designed to help you to invest and build wealth. There is no minimum investment and no fees on your first $5,000 invested. Spaceship Voyager makes investing simple, accessible and affordable for everyone.

Spaceship Voyager app

App Store Google Play

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Quick loans in Australia

In case you find your cash won’t suffice to cover the bills, you can apply for quick loans online in Australia.

With Cigno Loans, get up to $1,000 paid directly into your account.

The online application makes the process fast and simple. Hence, fast turnaround time and approval for borrowers with urgent needs.

Cigno can help you to apply for quick loans, which can be repaid over a lesser time period.

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Disclaimer: Please be aware that Cigno Loans’ articles do not replace advice from an accountant or financial advisor. All information provided is intended to be used as a guide only, as it does not take into account your personal financial situation or needs. If you require assistance, it is recommended that you consult a licensed financial or tax advisor.


Ordered by the Federal Court of Australia

The Federal Court of Australia has found that Cigno Australia Pty Ltd (Cigno Australia) and BSF Solutions Pty Ltd (BSF Solutions) have breached the law by engaging in unlicensed credit activity and charging prohibited fees.

In the period from July 2022 to 3 October 2023, over 100,000 consumers have been lent a total of $34 million, and charged fees of over $70 million, under the ‘No Upfront Charge Loan Model’ operated by BSF Solutions and Cigno Australia. At no time has either BSF Solutions or Cigno Australia held an Australian Credit Licence.

The Court also found that Mark Swanepoel (director of Cigno Australia) and Brenton James Harrison (director of BSF Solutions) were involved in these breaches of the law.

With effect from 24 May 2024, the Court has granted permanent injunctions preventing Cigno Australia and BSF Solutions from:

  • demanding, receiving or accepting fees or charges, including amounts of loan principal, from consumers in relation to credit provided under the ‘No Upfront Charge Model’; and
  • engaging in further credit activity pursuant to the ‘No Upfront Charge Loan Model’, including by entering into new agreements with consumers, for so long as they do not hold an Australian Credit Licence.

Cigno Australia was ordered by the Court to, by 5th July 2024, send written communications to consumers who between July 2022 and December 2022 entered into agreements with Cigno Australia and BSF Solutions under the ‘No Upfront Charge Loan Model’.

The Court will later determine whether (among other things) Cigno Australia and Mark Swanepoel ought to pay a pecuniary penalty in respect of this conduct, and whether Mark Swanepoel should be restrained from carrying on a business engaging in credit activity.

Cigno Australia, BSF Solutions, Mr Swanepoel and Mr Harrison intend to appeal the decision of the Court and have filed an application for leave to appeal. If the appeal is successful, some or all of the orders of the Federal Court of Australia may be set aside.

Where can you get more information?

Where to go for further support

You can access legal advice in your state at: Free legal advice – Moneysmart.gov.au.

If you are experiencing trouble with debt, or money worries in general, contact:

  • the National Debt Helpline on 1800 007 007 or online chat (9:30am to 4.30pm, Monday to Friday).

If you need someone to talk to, contact:

  • Lifeline on 13 11 14 (24 hours) or their crisis support online chat or
  • Beyond Blue on 1300 22 46 36 (24 hours) or their webchat