ATO (tax office) payments by credit card

[ninja-tim]

On Westpac Amex Black you get 0.75 Kris Miles at a cost of 1.93 cents per mile. You can warehouse the miles to avoid expiry.

In terms of earning/redeeming Krisflyer miles and comparing to Amex Red velocity card:

Westpac Black Amex
$0 annual fee (first year) if signing up using online westpac account, otherwise $395 annual fee
Warehouse points
0.75 KF miles/$1 spend with ATO @ 1.93 cents/KF mile

Amex Red Velocity Card
$0 annual fee
Direct Sweep
1VA=0.74KF=$1 spend with ATO @ 1.96 cents/KF mile

So according to my calculations, and assuming it's correct, the Westpac Black amex wins by a tiny margin?
Will these 2 cards (minus Westpac Krisflyer CC) be the only good ones left to earn KF miles after Feb?

 

[cove]

Lucky we live in the pre February 27th times ninja-tim. My ANZ Blacks are working sweetly with less than 50 days of opportunity left. I started last night and all the current available Australian CCs are going to get a multiple run. With the Aussie dollar sagging I will wait before using the US cards because of an exchange rate risk.
After February 26 to it will be a bit harder but in April it will be 7 years since js posted.

 

[ninja-tim]

Lucky we live in the pre February 27th times ninja-tim. My ANZ Blacks are working sweetly with less than 50 days of opportunity left. I started last night and all the current available Australian CCs are going to get a multiple run. With the Aussie dollar sagging I will wait before using the US cards because of an exchange rate risk.
After February 26 to it will be a bit harder but in April it will be 7 years since js posted.

Tis pre-Feb 27. 50 days does go by quickly though. Fortune favours the prepared though.

Looking for tax to pay before it's required, we certainly are a rare breed.

 

[burnt]

With the demise of ANZ Black on Feb 26, I wonder if it actually cuts out on the 26th or will it be customers first statement period that ends after the 26th, ie my statement month runs 15th to 15th basically, so do you think there is a chance that I will still be able to work the system up to 15th March?

Any experience out there with what has happened with other "enhanced benefits" in the past with other providers?

 

[cove]

Burnt it is zip points past 26th so I would suggest you finish on or about 23rd Feb to allow processing time.

 

[burnt]

Thanks Cove, hopefully I can get 3,000,000 up between today and then. ( that is over 5 years flying for Mrs Burnt and I with O/W J 35,000 mile trips,

 

[coriander]

hopefully I can get 3,000,000 up between today and then.

Wow!
And here am I thinking I was doing ok expecting to get another 20,000 points between today and then.

 

[drross]

Wow!
And here am I thinking I was doing ok expecting to get another 20,000 points between today and then.

i'm totally in awe too. we're nowhere near that level.

 

[Mitch_W]

Thanks Cove, hopefully I can get 3,000,000 up between today and then. ( that is over 5 years flying for Mrs Burnt and I with O/W J 35,000 mile trips,

A 3 million dollar tax bill....... I am speechless

 

[Pushka]

Maybe they mean 'up to' rather than the full monty in a couple of weeks.

 

[coriander]

A 3 million dollar tax bill....... I am speechless

Perhaps "only" 2million if one uses Amex, not Visa.

 

[burnt]

Just to set the record straight, it wasn't a tax BILL, rather a bit of in and out.

 

[Radio8tiv]

Not sure if I missed it, I know someone mentioned it months ago, but can't find it now. There was talk of the basic Velocity Escape card from Amex not being tarred with the same brush that affected the lower earn rate of the rest of the Amex issued cards for ATO payments, and from what I can see on Amex website, this seems to be true. Has anyone actually got an Amex Velocity Escape card and paid ATO and received 1 FF point per $? Based on my calcs, that results in about 1.45c per virgin FF point, which isn't all that great, but seeing as all the other options seem to be dying out, may be better than nothing.

Seems to also be the case for the Qantas Discovery card as well.

my daughter just got this card, so will probably run a small test on it at the end of the month for my payg payment, I will report back then, and update my spreadsheet.

 

[Kilo]

A shame to hear about ANZ. What are the ATO options now?

 

[Jousams]

my daughter just got this card, so will probably run a small test on it at the end of the month for my payg payment, I will report back then, and update my spreadsheet.

I recently paid about 30k of HECS with this card and points came through fine..

 

[burmans]

Just to set the record straight, it wasn't a tax BILL, rather a bit of in and out.

That's expensive for a bit of "in and out" too!

 

[Ghostdunks]

Thanks Cove, hopefully I can get 3,000,000 up between today and then. ( that is over 5 years flying for Mrs Burnt and I with O/W J 35,000 mile trips,

Just be wary that someone else here got their points which had already credited in Oct/Nov rescinded by ANZ just recently, for "business transactions". Over 800k if I remember right.

 

[sumthinfornuthin]

I have a $70K BAS to pay to the ATO, tossing up whether to use the ANZ Visas @ .42 % or the ANZ Amex @ 1.45 %. I have worked out that the crediting rates mean that if I use the Amex I will get an extra 51,000 points but it will cost an extra $ 700 in charges = 1.37 cents per point....Do people reckon it's worth the cost for the extra points or just use the VISA and save the cost ?? No tax deductibility on the charges for me.

 

[burnt]

Interesting thing about the ANZ cancelling previously awarded points and classifying them as business use, maybe that would be the case if you were actually paying a business tax bill, but it would be an interesting argument if it was an in and out and the only purpose was to earn points, so not technically a business transaction?

 

[ninja-tim]

I have a $70K BAS to pay to the ATO, tossing up whether to use the ANZ Visas @ .42 % or the ANZ Amex @ 1.45 %. I have worked out that the crediting rates mean that if I use the Amex I will get an extra 51,000 points but it will cost an extra $ 700 in charges = 1.37 cents per point....Do people reckon it's worth the cost for the extra points or just use the VISA and save the cost ?? No tax deductibility on the charges for me.

Gotta also ask whether you 'need' the points or if you have an abundance of points and what other point earning sources you have especially since this may be the last ATO charge you can put through before it gets cut next month.

$70k = 51k miles? that's about a 1 way J ticket to SEA on SQ, where as a revenue 1 way flight would cost at least $2-2.5k