ATO (tax office) payments by credit card

[Pushka]

I rarely paid by credit card because of that fee. Will change that now.

 

[Bofter]

Do we think as a ratio of estimate to cost, that the government's estimate of an uncapped demand driven cost will be off by Cheaper Home Batteries program levels (3:1, but only because of modifications to rein in) or NDIS levels (I think sitting at around 5:1 or so)?

 

[Haplo]

I have a CGT bill to pay this year as I sold an investment property, so come 31 Oct I am going to smash all of it onto my Amex platinum card for the free points, plus the interest free period as well.

 

[cove]

This news of the Treasurer allowing credit card payments until 30th June next year is better than receiving a thank you from the fiscal fiend.

 

[Duffa]

I have a CGT bill to pay this year as I sold an investment property, so come 31 Oct I am going to smash all of it onto my Amex platinum card for the free points, plus the interest free period as well.

Brilliant. I just realised I have a CGT too!

 

[serfty]

$10k ...

Paying with a QBR Business Amex.

Direct earn 5000 Qantas Points for $0

Use, say Sniip, earn 12,743 Qantas points at a raw cost of $219. GST is $19.91 which can be used as an input tax credit. The remaining $199.09 is tax deductable.

Need to consider the useful value of those 7.7K QFF.

(I know there are other Amex products which may have a better direct earn.)

 

[prozac]

$10k ...

Paying with a QBR Business Amex.

Direct earn 5000 Qantas Points for $0

Use, say Sniip, earn 12,743 Qantas points at a raw cost of $219. GST is $19.91 which can be used as an input tax credit. The remaining $199.09 is tax deductable.

Need to consider the useful value of those 7.7K QFF.

(I know there are other Amex products which may have a better direct earn.)

Interestingly the ATO (and government) earn rate of 2:1 is the same for the free Amex Qantas Discovery. Good card for low income earners and as a back up.

 

[transpactraveller]

Interestingly the ATO (and government) earn rate of 2:1 is the same for the free Amex Qantas Discovery. Good card for low income earners and as a back up.

Low income earners are unlikely to have any need to pay the ATO.

 

[Pushka]

Brilliant. I just realised I have a CGT too!

We have a significant company tax bill for last year too. We have until May next year to pay and accountant hasn't finalised yet but might need to alert Amex it's going to land. And now I'm paying for things I'd previously have done a bank transfer. And so much easier too.

 

[SydneySwan]

In my experience if you overpay your tax or pay early then the ATO will pay you interest. This may be another hit to ATO costs.

My innerclairvoyant tells me that a lot of people may be in a rush to bring forward tax payments prior to the end of June 2027!

 

[MARTINE]

In my experience if you overpay your tax or pay early then the ATO will pay you interest. This may be another hit to ATO costs.

My innerclairvoyant tells me that a lot of people may be in a rush to bring forward tax payments prior to the end of June 2027!

Yes
Decent interest too
Paid CGT on a property early April due late May
Returned nearly a grand