ATO (tax office) payments by credit card

[sumthinfornuthin]

0.5 pts per $, 0.54℅ fee.

I've maxed out and can't recontribute until October 2017, started on my wife's card now

 

[lovetravellingoz]

You're now talking about paying $500K worth of fees, no?

Yes...the recent series of posts have been about points earnt for fee paid.

 

[tristanium]

I've maxed out and can't recontribute until October 2017, started on my wife's card now

Are you talking about Qantas Cash/Velocity Global Wallet? Is there a max?

 

[sumthinfornuthin]

Are you talking about Qantas Cash/Velocity Global Wallet? Is there a max?

I have put in over $ 100 K in AUD and they have refunded the excess.
I have now funded my wife's card to keep paying tax, GSTand BAS etc

 

[whatmeworry]

Changes to Discovery Amex ATO earn.

Then, with Qantas Discovery, the entry level no annual fee card, the only change is a reduction in the points earned on the Government Charges category down to 0.5 Qantas Points per dollar – which is a loss for those who used this card for that purpose.

	Old Earn Rates	New Earn Rates
Qantas products and services	2 Qantas point per $1	2 Qantas point per $1
Card Purchases (all other spend)	1 Qantas point per $1	1 Qantas point per $1
Utilities, Insurance and Telecommunications	1 Qantas point per $1	1 Qantas point per $1
Government Spend, Australia Post and ATO	1 Qantas point per $1	0.5 Qantas point per $1

American Express tweak earn rates on the Qantas American Express range - good for some cardholders, not so much for others - Point Hacks

 

[BillytheFIsh]

Post deleted as the info changed - I will do a follow up post below when I get a chance.

 

[Awesom Andy]

Please forgive me for being cryptic, but while I'm sure the usual sites will pick up on it soon enough, I'd prefer not to hand it to them on a plate. So if you've been contributing to this thread and are interested, send me a PM.

It's very much the same in other countries as well, where the trend now is to basically milk it for all it's worth before the masses find out about it - and generally speaking, it doesn't take long at all. Not sure how you would decide who has been contributing and who hasn't, but let's see how long this one lasts.

 

[BillytheFIsh]

Well another one bites the dust... I stumbled upon a WBC Business card a few weeks ago with an 80K bonus and ATO friendly terms and conditions (which I compared to those for my Altitude Black) at 0.67 pts/$:


https://www.westpac.com.au/business-banking/credit-cards/rewards-cards/businesschoice-rewards/


I applied 2 weeks ago and did a tester with my last BAS and the bonus and all ATO spend points came through with my first statement.


Unfortunately the website was updated and the terms and conditions changed on the night of 28 February to add the words:

From 2 May 2017, the earn rate will change from 1 Qantas Point to 0.5 Qantas Points for every $1.50 you spend on government payments. This change will not impact the earn rate on eligible business purchases.

The page from last week:


https://web.archive.org/web/2017022...t-cards/rewards-cards/businesschoice-rewards/

The updated terms and conditions are dated 1 February 2017, but they weren't up when I applied.

You've got to be quick!

 

[BacchusMarsh]

Has anyone been using RewardPay on a regular basis for the ATO?

I like the concept, but haven't been able to get them to reply to pretty simple questions, which makes me a little reluctant to send tens of thousands of dollars through them each quarter.

 

[cove]

BTF I have been thinking about getting another US CC with no forex fees to earn Kris Flyer Miles as a just in case the Australian banks stop ATO with the new Reserve Bank rules in July. Have done well with AA Miles off a Citi US card so I would like to have another option seeing taxes are continuing.

 

[LittleFokker]

Has anyone been using RewardPay on a regular basis for the ATO?

I like the concept, but haven't been able to get them to reply to pretty simple questions, which makes me a little reluctant to send tens of thousands of dollars through them each quarter.

i used them three or four times last year for smsf and ato - around 50K to use up my Amex accel.

 

[BacchusMarsh]

i used them three or four times last year for smsf and ato - around 50K to use up my Amex accel.

Thanks. Did you just get the ABN etc. from the ATO website? I've found stuff like:

Australian Business Number 51824753556
Name Australian Taxation Office
Bank Account BSB 093003
Bank Account Number 316385

Is that pretty much all you need?

I guess I just wish it were there as a pulldown option or something.

 

[bbqwer]

i used them three or four times last year for smsf and ato - around 50K to use up my Amex accel.

Been thinking to use rewardPay, Can they be trusted ?

 

[ninja-tim]

I use Rewardpay on a regular basis every month for bills other than ATO.

I use it on suppliers/ATO/Super who charge surcharge on Visa/MC, don't take amex at all (sometimes), and those that charge >2.4% on Amex.

The info for ATO (abn, address etc) I got from an newsletter email from Rewardpay:
[h=2]RewardPay the ATO [/h][FONT=&quot]When you pay the ATO using RewardPay you will receive a full point for every dollar*. Making ATO paymentsis quick and easy. Simply login to RewardPay, create a new ATO payee using the ATO detailsbelow and then process your payment.[/FONT]
[FONT=&quot]ABN 51 824753556[/FONT]
[FONT=&quot]Address: 2-12 Macquarie St, Parramatta, NSW, 2123

I've never had an issue with payments/funds. Typically from the time you process the payment on the Rewardpay site it should take no more than 3-4 days to arrive in supplier's bank account. I'm really bad at paying bills and like to pay just before the due date, but as long as you pay 3-4 business days before due date, it should be fine.

Is it worth it? Really depends on how much your amex card earns per $, the transfer rate to your preferred FF program, how much you value points and also you're point earning capacity. If you don't really have lots of bills/Tax/super to pay and want lots of points quick but not too fussed with the cost, then I think Amex is usually the way to go. But if you have lots and lots of bills/Tax to pay then typically Visa/MC is the way to go since it's cheaper and you're probably already floating in points. Is this correct Cove?

Really, you can pretty much pay any expense (inc. wages) using rewardpay but I think that may be overkill. [/FONT]

 

[LittleFokker]

The cost is 2.4c / point + GST. I use an Amex Accel which gives 2 pt / dollar so my cost is 1.2c + GST (which I claim). The net result for me is that I'm buying 100,000 points for $1200 + GST (100K is the annual limit on accel points) + $169 card fee.

It's just part of the mix of strategies that you can use to generate non-flying points each year.

i've just signed up for the Amex Discovery which I might use via reward pay to top up FF accounts when close to an award. 1.5 Gateway FF points per 2.4c gives a per point cost of 1.6c. This is marginal for anything but SG Suites IMHO

 

[Nizar]

Hi guys,

Has anyone had any luck with ANZ Black Amex if hidden amongst many other transactions ?

And is Wesptac Black still a goer for "personal" taxes ?

Thanks

 

[cove]

ANZ Black is a NO.
Westpac Black is a yes but quite expensive unless you can get a tax deduction for the cost.

 

[Kangol]

Westpac Black is a yes but quite expensive unless you can get a tax deduction for the cost.

The Altitude Black is for the Amex only. 1.45c card fee per dollar for 0.75 QFF.

Even with a tax deduction, it's still reasonably expensive, in relative terms.
Normally, it's effectively ~0.739 points per dollar (0.75 points / $1.0145).

At the 45% marginal rate, giving you a card fee of ~0.80c per dollar for 0.75 QFF, the effective earn is ~0.744 points per dollar (0.75 points / $1.0080).

There was a bonus promotion on Altitude Black and ATO payments not too long ago, from memory it was decent but not amazing.

 

[BillytheFIsh]

BTF I have been thinking about getting another US CC with no forex fees to earn Kris Flyer Miles as a just in case the Australian banks stop ATO with the new Reserve Bank rules in July. Have done well with AA Miles off a Citi US card so I would like to have another option seeing taxes are continuing.

Unfortunately (in the current climate, perhaps fortunately?) I've never even been to the LOTFAP, so US card are out of the question for me.

I am happy with BWW at the moment, but am always looking for decent backups as it could be enhanced at any time and it's all I have left. I don't run huge amounts through, so $1,000 egift cards might be an option for me if they aren't rubbed out as well. $100 at a time would be too painful though. Other on here have much more patience than me!

Rewardpay with amex business accelerator might work as well, but I'm still not sold on their reliability yet. Will let other be the guinea pigs for a few more months with them.

 

[ninja-tim]

The cost is 2.4c / point + GST. I use an Amex Accel which gives 2 pt / dollar so my cost is 1.2c + GST (which I claim). The net result for me is that I'm buying 100,000 points for $1200 + GST (100K is the annual limit on accel points) + $169 card fee.

It's just part of the mix of strategies that you can use to generate non-flying points each year.

i've just signed up for the Amex Discovery which I might use via reward pay to top up FF accounts when close to an award. 1.5 Gateway FF points per 2.4c gives a per point cost of 1.6c. This is marginal for anything but SG Suites IMHO

Assuming you're using it for business, don't forget to deduct appropriate tax rate off the 2.4% surcharge fee.

Hi guys,

Has anyone had any luck with ANZ Black Amex if hidden amongst many other transactions ?

And is Wesptac Black still a goer for "personal" taxes ?

Thanks

Banks don't really care or can find out if the charge is for personal or business tax. They'll just assume it's business charge.