ATO (tax office) payments by credit card

[daft009]

Thanks found it in the PDS. Bit worrying that there’s a total of one mention of GST on their entire web presence. I believe that technically, according to the ato, in order to claim the gst credit, we will need a proper tax invoice issued by them which includes the ABN and either the exact gst amount or a statement specifying that it includes gst.

I've just emailed them asking for an invoice for my recent payment, will keep you posted

 

[Ghostdunks]

Hehe I did the same last night as well. Will see if they enhance their existing receipts or supply separate tax invoices altogether. Preferable if they just enhance their existing receipt system, that’ll make it less hassle and no need to chase up separate tax invoices.

 

[daft009]

I've just emailed them asking for an invoice for my recent payment, will keep you posted

received a reply a couple of hours ago.
currently no way to send a tax invoice though they are definitely registered for GST.
they will expedite this. I've mentioned that they will get a lot of small business owners signing up and will also ask for a tax invoice.

 

[Ghostdunks]

Thanks for the update, I’m still waiting for my response myself. It’s a bit worrying when something this simple has taken so many days(and still waiting for me) to get an answer on. It’s not like GST is a newly introduced tax that businesses are scrambling to update their systems for.

 

[Catweazle]

Still get normal points plus get 1 velocity point per $10 processed

Great so, just for the uninitiated like myself – Yak pay is a payment system like one of those PayPal or Afterpay?

As in, they are the third party that takes the money and passes on between me and the ATO?

 

[Payment Logic & Yak Pay]

Great so, just for the uninitiated like myself – Yak pay is a payment system like one of those PayPal or Afterpay?

As in, they are the third party that takes the money and passes on between me and the ATO?

Hi Cat,

We are a little like PayPal and Afterpay, although more similar to the former.

The process works as follows: login to our platform and create a payment before 6pm on any given business day; we then receive the funds from your credit card provider (Amex, VISA or Mastercard) the following morning and the funds are then pushed out at approximately 3pm that day. Your payee will then receive the funds anywhere from 6pm to 12am that evening (depending on their bank - Big4 Banks typically process payments faster than smaller rural banks).

Feel free to let me know if you have any questions.

 

[beardoc]

If I can't get a tax invoice for the payments with Sniip, then I can't use it. This is critical.

I've used B2BPay a long time ago and it was consistently good for getting a tax invoice and showing the GST component immediately on payment confirmation.

Will be interested to see how you do with tax invoices for Sniip.

 

[burmans]

Perhaps worth reminding them they are legally required to issue a tax invoice!

Tax invoices | Australian Taxation Office

Explains when to provide a tax invoice, what it must include and dealing with non-taxable sales and rounding

www.ato.gov.au

 

[daft009]

Perhaps worth reminding them they are legally required to issue a tax invoice!

Tax invoices | Australian Taxation Office

Explains when to provide a tax invoice, what it must include and dealing with non-taxable sales and rounding

www.ato.gov.au

just sent that link to sniip and asked for an update

 

[Catweazle]

Hi Cat,

We are a little like PayPal and Afterpay, although more similar to the former.

The process works as follows: login to our platform and create a payment before 6pm on any given business day; we then receive the funds from your credit card provider (Amex, VISA or Mastercard) the following morning and the funds are then pushed out at approximately 3pm that day. Your payee will then receive the funds anywhere from 6pm to 12am that evening (depending on their bank - Big4 Banks typically process payments faster than smaller rural banks).

Feel free to let me know if you have any questions.

Awesome, what a lovely surprise to see you answering my question directly. Thank you – much appreciated!

BTW, I've seen B2B around here but assuming you don't need a ABN? As in, I don't run a business – I work for the government (teacher) so the government (business) runs me lol.

 

[serfty]

I've used B2BPay a long time ago and it was consistently good for getting a tax invoice and showing the GST component immediately on payment confirmation.

No worries about getting Tax Invoices with B2Bpay - the only issue is the lead time. They take the $$ immediately but then it is three business days before they actually pay it and then more business days before it goes through. Watch out for long weekends (and weekends in general).

We did use it mid year in conjunction with a 20K point promotion - reducing the cost for us to 1.18¢ per point. But not really interested currently as we are awash (for us) with redeemable points. In fact for the last few months the BAS's have been BPay'ed. So too will be those due next week.

 

[Payment Logic & Yak Pay]

Awesome, what a lovely surprise to see you answering my question directly. Thank you – much appreciated!

BTW, I've seen B2B around here but assuming you don't need a ABN? As in, I don't run a business – I work for the government (teacher) so the government (business) runs me lol.

No worries at all Unfortunately as part of the signup process you require an ABN to do so - although it's extremely easy to sign up as sole trader and the last time I checked this was a free process. You can then use the ABN provided to you and sign up to the platform.

 

[pangwen]

No worries at all Unfortunately as part of the signup process you require an ABN to do so - although it's extremely easy to sign up as sole trader and the last time I checked this was a free process. You can then use the ABN provided to you and sign up to the platform.

@Yak Pay | Payment Logic - I noticed on your site that you can now link to Qantas Business Rewards. I have a YP account currently linked to Velocity, will I need to totally unlink from Velocity to earn QBR points, or is it possible to add my Qantas account and select on a transaction-by-transaction basis where the extra points (the 1 point per $10 spent on YP) go?

 

[Payment Logic & Yak Pay]

@Yak Pay | Payment Logic - I noticed on your site that you can now link to Qantas Business Rewards. I have a YP account currently linked to Velocity, will I need to totally unlink from Velocity to earn QBR points, or is it possible to add my Qantas account and select on a transaction-by-transaction basis where the extra points (the 1 point per $10 spent on YP) go?

In order to link to the QBR program you will need to unlink yourself from the Velocity Program and then select QBR as your chosen program. In regards to selecting it on a transaction-by-transaction basis, I think that's an intuitive suggestion that makes a lot of sense - I'll be sure to flick it onto the development team for future consideration.

 

[Miss Sniip]

Hi all

Just wanted to update you on the GST queries above.

Firstly, please rest assured that the processing fee we charge for all credit cards (except for international cards) is 1.5% inclusive of GST.

Secondly, as of this Thursday (10 March), all receipts will display the GST component as a part of your Sniip receipt. This will also retrospectively apply to all your previous BPAY payments made via Sniip, so no need to worry about any of those historical payments either.

As you may also know, Sniip allows you to export out these receipts from your Sniip app if required for lodging your BAS statements.

I hope this answers a few of the questions above. Please sing out if not or any other comments that may help us improve the Sniip experience!

Miss Sniip

 

[albyd]

Thanks for the update - just made a larger payment. I'd made a smaller tester payment recently. I notice on my Amex the narrative isn't descriptive so I know will need to extract history from the app. Are there any plans to please make the narratives which make it to our Amex statements more descriptive? ie rather than "Sniip" to something that includes who we paid so we can more easily reconcile our statements when the time comes?

Also, do you guys have any plans to introduce bank transfers (ie to BSB & a/c) as many of my billers don't accept credit cards or have BPay.

 

[daft009]

Also, do you guys have any plans to introduce bank transfers (ie to BSB & a/c) as many of my billers don't accept credit cards or have BPay.

Yeh this would be awesome

 

[Ghostdunks]

Secondly, as of this Thursday (10 March), all receipts will display the GST component as a part of your Sniip receipt. This will also retrospectively apply to all your previous BPAY payments made via Sniip, so no need to worry about any of those historical payments either.

Great news on including the gst part, that’s probably the most important part. I assume that the other requirements for a tax invoice have also been met as part of the update? Ie. ABN

I too second being able to pay to a bank acc via sniip

 

[Miss Sniip]

Hi All
Firstly, the ABN is not contained on the receipt itself but when you email the receipt to anyone (including yourself), the ABN is included on the bottom of the email. (Customers often send these emails to themselves and their tax agent.)
Secondly re payments to bank accounts: we understand that this is a feature we need to offer and are working on having this available in the next few months.
Really appreciate the feedback and questions

 

[BillytheFIsh]

just about to pay ATO now.
SNIIP is indeed charging 1.5%, however this includes GST! so 1.3636% ex GST vs YP at 1%
pretty much coming to the same cost/pt for me (0.012 YP vs 0.01196 SNIIP)

here are the calculations...

ATO via SNIIP AMEX
payment amount	10000​	$
surcharge ex gst	1.363636​	%
points per dollar	1.125​
points earnt	11250​
surcharge paid	136.3636​	$
points earnt on surcharge	153.4091​
cost of 1 point	0.012121​	without surcharge points
cost of 1 point	0.011958​	with surcharge points

ATO via YP Dragon
payment amount	10000​	$
surcharge ex gst	1​	%
points per dollar	0.825​
points earnt	8250​
surcharge paid	100​	$
points earnt on surcharge	82.5​
cost of 1 point	0.012121​	without surcharge points
cost of 1 point	0.012001​	with surcharge points

Making some payments to our friends in Canberra and I keep coming back to this helpful post.

One thing that might tip this in Yak Pay's favour that's not included in this calculation is the 1 point per $7 processed to the ATO which you can direct to VA or QF Business Rewards. The rate is 1 pont per $10 to any other payee.

Still, I'm doing about 50/50 given my relatively low limit on my Dragon card.