ATO (tax office) payments by credit card

[ninja-tim]

Am I right that HSBC Plat, Qantas Credit Union Visa Plat, and ANZ Black are the best remaining options?

plus CBA Diamond, W/pac Krisflyer, NAB platinum Qantas/Velocity (though there will be 20k cap per statement). There's prob a few other, just have to search this thread.

 

[get me outta here]

My ANZ Black item says this next to a recent payment - should I be worried that they won't pay it and I've paid the fee for nothing?:

ATO PAYMENT SYDNEY [FONT=verdana !important]Government Services ? Not Elsewhere Classified[/FONT]

 

[cove]

I think the banks are paying more than 1 cent for each mile/point that they purchase from the airlines. I did hear 1.05 cents plus GST about 2 years ago which I believe was accurate.
Premium cards Platinum and Black ones try to gouge around 2% from general vendors for Visa and MasterCard. It can be more. Then most big banks charge over 20% on anything overdue.

 

[angusburns]

My ANZ Black FF online listing says:
[FONT=verdana !important] ATO PAYMENT SYDNEY [FONT=verdana ! important]Tax Payments

...and my points from paying the ATO came through the next day.

You can click on the Reward Points link at the top of the page to check your points balance
[/FONT]
[/FONT]

 

[Warks]

On a related (but slightly side) issue - anyone know why the ATO payment system asks for the amount you are paying INCLUDING cents? I always (and I mean always) type in the dollar amount and get the YOU ARE AN IDIOT! message and have to go back and put "point zero zero" after the five digits I just entered.

Since I first started paying tax about 30 years ago I recall the statement on the forms "Whole dollars only. Do NOT show cents!!!!!"

I remember it was the only break the ATO gave us. We could claim to the cent but only had to state our income to the dollar.

So I was wondering why this payment system was living in the dark ages.

(special award for most pathetic first world problem of the week)

 

[legroom]

plus CBA Diamond, W/pac Krisflyer, NAB platinum Qantas/Velocity (though there will be 20k cap per statement). There's prob a few other, just have to search this thread.

That is quite QF-centric I'd have to say.

AM or KF is underrepresented.

 

[cove]

Despite the recent gloom it looks like most did pretty good on earning miles or points in the last month.

 

[ninja-tim]

That is quite QF-centric I'd have to say.

AM or KF is underrepresented.

How is KF underrepresented? AM is for sure but KF?

 

[diningdecadence]

So I was wondering why this payment system was living in the dark ages.

it's a pretty common safety mechanism. same for HMRC in the UK.

e.g. imagine if you paid 50,000 when you wanted to actually pay 500.00

 

[legroom]

I could count only 2-3 (out of 6) that allows for KF conversion (ANZ Black, Westpac Krisflyer, NAB Velocity) of which the NAB has a cap.

Westpac is the only one with exclusive KF miles. Others have non-KF options.

How is KF underrepresented? AM is for sure but KF?

 

[ninja-tim]

I could count only 2-3 (out of 6) that allows for KF conversion (ANZ Black, Westpac Krisflyer, NAB Velocity) of which the NAB has a cap.

Westpac is the only one with exclusive KF miles. Others have non-KF options.

Well CBA diamond can transfer to KF via VA miles at 1.11KF/$1 spent, same as NAB velocity rates. ANZ is 1KF:$1. Assuming VA & SQ keep their relationship.
I wish KF makes better friends than Westpac.

 

[VAG newbie]

I could count only 2-3 (out of 6) that allows for KF conversion (ANZ Black, Westpac Krisflyer, NAB Velocity) of which the NAB has a cap.

Westpac is the only one with exclusive KF miles. Others have non-KF options.

The KF card is not open for application anymore so no good if you don't already have it.

There is also St George Amplify card that allows earn on KF and AM. I don't have one but the latest report is that it earns points on ATO payment.

CBA diamond can be converted to VA points which in turn can be converted to KF.

 

[angusburns]

ANZ Black Rewards is "Redeem 6,000 Reward Points for 2,000 KrisFlyer Miles." https://anzrewards.com/public/redeem_ff_product.aspx?id=3986&quantity=1

Which I make out to be $3,000 = 6,000 Reward Points = 2,000 KrisFlyer Miles, or $1 = 2/3 of a KF point, not 1KF=$1, or am I missing something?

Other ANZ Black Rewards ratios:
Redeem multiples of 2,250 Reward Points for 1,000 Velocity Frequent Flyer Points.
Redeem 3,000 Reward Points for 1,000 Asia Miles (also 2/3 FF pt per $)
Redeem 3,000 Reward Points for 15 Airpoints Dollars.

Hope this helps.

 

[bbqwer]

DEFT payment systems, Can I earn 3points by using Amex altitude black ? amex surchage is 3.3% not sure if its worth it or not.

im paying body corporate bill ( investment property ), these surchage is tax deductible.

worth it or not ? what guys reckon

 

[hossein_au]

I believe the issue relates to "Breakage" .. i.e. In this case the expected non redemption of a significant percentage the reward facility or at a lower value per point.

This would have been factored in by analysts at the margins in relation to profitability.

This occurs both with the airlines reward scheme which gets pressure when more points are redeemed than factored by their analysts and the financial institutions who are subsequently pressured by the airlines who want to increase points costs.

Those who earn points in dribs and drabs are more likely to not redeem points (and if they do, at less value cost per point) than those earning in bulk, especially when in large chunks.

It's similar thing as to what happened with the Westfield XS card when they were being purchased on points earning cards and redeemed 100% - that is not what is supposed to happen when breakage of up to 30% is expected.

With Millions of Rewards points a .01% variance from predictions can make a significant dent on the bottom line.

I agree, but for example in the case of XS, Westfield charges 1.5% CC fees on bulk purchases (corporate orders) plus their usual ~$5 fee per card. I don't imagine they lose any money by selling XS cards.

I reckon it all boils down to this very Australian way of thinking: hey, Joe Blob is getting some benefit and we did not charge him extra for that; so let's bloody stop him!

A Westfield corporate manager told me some time ago "if you get some benefit without paying for it, we call it 'arbitrage', and even though it is not illegal, we stop it nevertheless".

 

[hossein_au]

banks are paying more than 0.42c/mile so this is a loss making exercise for them. (at least on the V/MC side of things)

Are you sure? Can you substantiate that (I cannot, but then again it's not me claiming). I reckon if some airlines can sell points to consumers at, say, 1 or 2 cents apiece, the wholesale cost would be far less than 0.5 cent.

 

[diningdecadence]

Are you sure? Can you substantiate that (I cannot, but then again it's not me claiming). I reckon if some airlines can sell points to consumers at, say, 1 or 2 cents apiece, the wholesale cost would be far less than 0.5 cent.

yes.
no.
who is selling @ 1c? i want in!

 

[VAG newbie]

DEFT payment systems, Can I earn 3points by using Amex altitude black ? amex surchage is 3.3% not sure if its worth it or not.

im paying body corporate bill ( investment property ), these surchage is tax deductible.

worth it or not ? what guys reckon

Not sure if you'll get 3pt/$, but definitely not worth it. Currently ATO charges 1.45%, and you earn 1.5 pt/$ (altitude points). Double that you pay 2.9% which is better than 3.3%.

 

[Mark3000]

DEFT payment systems, Can I earn 3points by using Amex altitude black ? amex surchage is 3.3% not sure if its worth it or not.

im paying body corporate bill ( investment property ), these surchage is tax deductible.

worth it or not ? what guys reckon

I used the Amex via DEFT for body corp fees when Westpac had double points promo but not any more.

3 bank points per dollar reduces to 1.5 airline points and personally while I can get a lot of free or 0.5-1 c/ point points I don't think 2 c per point is worth it. Some do though and it depends what you redeem it for

When Westpac had their double point promo and the price came down to 1c it was worth it for me

 

[VAG newbie]

yes.
no.
who is selling @ 1c? i want in!

Agree, not even at 2c, unless we are referring to LM or AA or USDM, but those are in USD.

QFF/KF/AM all sell at well over 4c each at limited quantity.