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Thats so disappointing. Alternative views should be encouraged and cultivated. Who knows, you might learn something. If we just sit around agreeing with each other then it would get awfully boring and dull and no one wants that now do they?

No need to be so glum chum. It's just a tax on fringe benefits like any other. Pretty standard fare by world standards. Hard work has no bearing on this. Earning points on business spend and using those points for personal benefit is very transparent and easily proven. This is why I avoid...

The fringe benefit is not cash - its a non cash benefit but has value. The value is taxed. If you were given a business class trip to new York for a vacation by your employer, that would be a fringe benefit and taxed. If points were used to pay for that, and those points were gained through...

Ok, Then just tax the benefit when it is taken/redeemed. I think thats what the ATO is getting at. You earn the points from business spend, and spend the points on leisure travel. That is therefore a fringe benefit and subject to FBT. It makes sense. There is also evidence that the ATO use...

Oh. OK then.

I cant hear you over all the shouting and strong points being made. If feels like one of those interviews on CNN or Fox news when all the parties shout over the top of each other trying to make a point.

We had moved on to the topic of when points have value. The proposal was that points have no value until they are redeemed which is the opposite of how money works.

Right. Well that makes more sense now.

So, they do have value. This is the whole point of having them and why the ATO are considering the taxable status of them. Its a bit like saying that money has no value until you spend it.

So If they are worthless, why do you chase after them?

So what is bolding?

Why are you shouting?

The ATO does not hold the credit card payment data on those that have paid. PCI-DSS compliance requires either tokenisation or total masking. The processor of the transaction does this.

The BWA transaction product casualties may disagree.

:(.........................

Or just troll around here. Read some bragging posts and do some data mining....

About 99% give or take 1 %

Just making sure that you were on your toes.

Well it looks like the party is really over now. The Tax Office has been reviewing its treatment of loyalty points received via business spending since April 2016, when an industry partnership meeting on fringe benefits tax was informed of the move, according to HLB Mann Judd Sydney tax partner...

You made a scene for $400?