ATO (tax office) payments by credit card

[NJSteve]

I'm not sure why he hasn't replied - I wondered if he's encountered some head-winds, given I read somewhere (probably in this thread) that his site has been down for a while, so if that's the case, he could well be pre-occupied currently. I believe the 1.95% was AMEX (I can't recall other card rates). I felt fairly comfortable at the prospect of using Ferni's services (albeit I hadn't started), as there's a pretty decent history of discussion about Ferni on here and a number of other AFFers utilise the service. However, I would have done my own due diligence of course and started slowly.

Tbh seem's like he's onto something pretty good. Could really change the game if he went public with it which is what truly baffles me

 

[daft009]

Tbh seem's like he's onto something pretty good. Could really change the game if he went public with it which is what truly baffles me

It's a side thing for him so keeping his exposure to a minimum

 

[NJSteve]

It's a side thing for him so keeping his exposure to a minimum

I respect that and obviously I don't know his circumstances - however if he was looking to make some extra $ he'd definitely utilise his idea to it's full potential

 

[cove]

Used 3 Dragon cards to get the BAS done for November. All ok.

 

[NJSteve]

Used 3 Dragon cards to get the BAS done for November. All ok.

Was this Ferni? If he's making 100% of the profit off of his margin he would be making a massive income off some of his clients

 

[Bell21]

Was this Ferni? If he's making 100% of the profit off of his margin he would be making a massive income off some of his clients

More like ebp or direct payment to ato

 

[NJSteve]

More like ebp or direct payment to ato

So he's providing his services for free?

 

[Bell21]

No, I was assuming cove didn't use ferni for those transactions --- there's a range of online payment approaches one can utilse

 

[cove]

Direct is cheaper I think so why try a third party?

 

[Bell21]

Certainly is since ebp devaluation!

 

[cove]

Going third party can be risky so I would never do that. Your eyes might water if you saw some of the payments we do to the fiscal fiend. The latest one was due now and it is all done. Pass the bottle of Krug......

 

[Bell21]

I agree if there's no financial benefit of doing so and from an ATO perspective, there isn't any benefit now of 3rd party, but for other payments, there's still benefit. I've used B2Bpay, ebp, RP, etc and found them all to have no issues. But yes, well done on all those pesky ATO payments - enjoy the Krug!!

 

[NJSteve]

Direct is cheaper I think so why try a third party?

We use PL with our Amex plat bus. and get 2.25 pts/$1 spent. Seems like a reasonable deal considering we're on 1.89 exc. GST per payment we make

 

[cove]

The fiscal fiend managed to issue us with 5 quarterly tax assessments just before Christmas that are due on Feb 28th,2020.
I thought " Spoiler Alert".

 

[Bell21]

We use PL with our Amex plat bus. and get 2.25 pts/$1 spent. Seems like a reasonable deal considering we're on 1.89 exc. GST per payment we make

Sorry, what was the 1.89 referring to? You're paying about 1.33 cents / airline point whereas paying direct via ato (via other cards) or paying other expenses via ebp would be better points value, although I don't know your situation and the charge card vs traditional credit card limit can be helpful business wise

 

[NJSteve]

Sorry, what was the 1.89 referring to? You're paying about 1.33 cents / airline point whereas paying direct via ato (via other cards) or paying other expenses via ebp would be better points value, although I don't know your situation and the charge card vs traditional credit card limit can be helpful business wise

PL have a processing fee starting at 2.15% (which they get a margin of from Amex) and scales depending on how much you spend. Due to the size of our ATO payments our processing fee is usually 1.89% and in turn we're earning 2.25 pts/ 1$ we spend on the platform with our Amex bus. platinum. It's also nice for managing our cash flow with the 55 days interest free period

 

[albyd]

You do know that’s 1.125 airline points when Amex gets converted at 2:1 = 1.68c/airline point?

 

[NJSteve]

You do know that’s 1.125 airline points when Amex gets converted at 2:1 = 1.68c/airline point?

We're aware, hence most of the time we keep them as Amex points

 

[ferni]

We're aware, hence most of the time we keep them as Amex points

So what do you use your amex points for then?

 

[cove]

If you want QF points we can issue them at 1.65 cents so no need to pay more than this. Some folks can then claim the taxes off this but it depends on your circumstances with the fiscal fiend.