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  1. Nutcase

    ATO warns business owner over loyalty points from cards

    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?
  2. Nutcase

    ATO warns business owner over loyalty points from cards

    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...
  3. Nutcase

    ATO warns business owner over loyalty points from cards

    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...
  4. Nutcase

    ATO warns business owner over loyalty points from cards

    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...
  5. Nutcase

    ATO warns business owner over loyalty points from cards

    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.
  6. Nutcase

    ATO warns business owner over loyalty points from cards

    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.
  7. Nutcase

    ATO warns business owner over loyalty points from cards

    Right. Well that makes more sense now.
  8. Nutcase

    ATO warns business owner over loyalty points from cards

    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.
  9. Nutcase

    ATO warns business owner over loyalty points from cards

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

    ATO warns business owner over loyalty points from cards

    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.
  11. Nutcase

    ATO warns business owner over loyalty points from cards

    The BWA transaction product casualties may disagree.
  12. Nutcase

    Citi cards - major changes

    :(.........................
  13. Nutcase

    ATO warns business owner over loyalty points from cards

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

    ATO warns business owner over loyalty points from cards

    About 99% give or take 1 %
  15. Nutcase

    ATO warns business owner over loyalty points from cards

    Just making sure that you were on your toes.
  16. Nutcase

    ATO warns business owner over loyalty points from cards

    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...
  17. Nutcase

    Altitude Black Annual Fee Reduction

    You made a scene for $400?
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