ATO (tax office) payments by credit card

[kevrosmith]

Thanks Mr Cove! BTW, I noticed that in my previous message, the word 'options' has changed colours and has been linked to a Russian bride finding website! How ingenious!! Wonder who did that? The forum software or the admins!

If that's true, then you need to update your anti-virus software and make sure you have back-up copies of your important files. That is usually a tell-tale sign of a virus or malware software on your local computer. Nothing to do with the forum or admins.

 

[slinky123]

A few pages ago I mentioned that I paid ATO with Qantas Cash.
The points have already been credited to my QFF account. ( 0.5 per $1)

 

[Kangol]

A few pages ago I mentioned that I paid ATO with Qantas Cash.
The points have already been credited to my QFF account. ( 0.5 per $1)

For every $100 paid to the ATO, $0.54 gets you 50 QFF (1.08c per point) which isn't so bad if you didn't have access to the higher level cards, which are not so common any more.
You could get QFF points for less with other methods; unfortunately QFF for ATO is certainly not as fruitful as it used to be.

 

[BacchusMarsh]

For every $100 paid to the ATO, $0.54 gets you 50 QFF (1.08c per point) which isn't so bad

Not bad at all. As I mentioned upthread, I got 1.29c per point using RewardPay. But four times the points for the same ATO spend, plus they are Membership Rewards Ascent Premium points (using Explorer linked to Platinum Charge), which are much more valuable to me than QFF points.

 

[cove]

Yes BankWest Platinum earns at that same cost with an annual 200,000 points cap.

 

[Scr77]

A few pages ago I mentioned that I paid ATO with Qantas Cash.
The points have already been credited to my QFF account. ( 0.5 per $1)

I thought I read that qantas cash earn rate was either being halved or ato removed. I could be wrong as I can't find anything now.

 

[slinky123]

Does anyone know if there are any Debit cards ( apart from Qantas Cash) that allow Govt spend but not ATO?

 

[DeKa]

I thought I read that qantas cash earn rate was either being halved or ato removed. I could be wrong as I can't find anything now.

From 1 July 2017 for domestic spend
https://myaccount.qantascash.com/earnrateupdates
Rate halves which makes ATO expensive.

 

[Myztikal_]

I've been thinking of claiming the Tax Free threshold option with my employer. At tax time i'll be able to pay with card and then earn super delicious amount of points!

Anyone do this?

 

[coriander]

I've been thinking of claiming the Tax Free threshold option with my employer. At tax time i'll be able to pay with card and then earn super delicious amount of points!

?

Don't think PAYG works that way.

 

[Myztikal_]

Yeah sorry, dumb question lol.

Misread the whole thing.

EDIT: Actually, i should be able to claw back quite a bit from a tax free of 18200?

 

[Scr77]

Any chance of the ATO surcharge getting cut from 1 July? Buckleys and none?

 

[lovetravellingoz]

Yeah sorry, dumb question lol.

Misread the whole thing.

EDIT: Actually, i should be able to claw back quite a bit from a tax free of 18200?

From your posts I am not sure that you actually understand what the Tax Free Threshold is and how it works.

See : https://www.ato.gov.au/Individuals/Working/Working-as-an-employee/Claiming-the-tax-free-threshold/

Plus with PAYG your employer would be paying the tax to the ATO.

Also if the ATO does refund then you cannot make points from this. You can only make points when you personally make payments to the ATO.

 

[cove]

If you are talking about the "budget deficit repair levy" it is due to automatically expire after the legislated 2 year time period this 30th June so that is a few days away.
Quite a disincentive for our younger taxpayers who might choose a lower personal tax rate and work outside of Australia and pay nothing towards our uncontrolled Government deficits.
I think more income tax receipts would result from a 40% tax rate rather than a rate approaching 50%.

 

[whatmeworry]

If you are talking about the "budget deficit repair levy" it is due to automatically expire after the legislated 2 year time period this 30th June so that is a few days away.
Quite a disincentive for our younger taxpayers who might choose a lower personal tax rate and work outside of Australia and pay nothing towards our uncontrolled Government deficits.
I think more income tax receipts would result from a 40% tax rate rather than a rate approaching 50%.

Half a trillion dollars of debt yet the boomers keep getting benefits grandfather claused. Those with a 50% rate are rare and most do dodgy deals with accountants to pay no tax. Reminds me of when Kerry Packer paid no income tax and their was rumours James got Austudy.

 

[cove]

Half a trillion is a lot of money so we need to decide what should be cut out of the current Government expenditure or re-introduce death duties, move pension entitlement way past 67 or something else.
The amounts we each pay gets gobbled up in seconds or even micro seconds.

 

[Isochronous]

If you are talking about the "budget deficit repair levy" it is due to automatically expire after the legislated 2 year time period this 30th June so that is a few days away.
Quite a disincentive for our younger taxpayers who might choose a lower personal tax rate and work outside of Australia and pay nothing towards our uncontrolled Government deficits.
I think more income tax receipts would result from a 40% tax rate rather than a rate approaching 50%.

Exactly - CGT revenues increased when Costello introduced the 50% discount for holding assets for longer than 12 months to replace the indexation method, in the same way when Gordon Brown increased the top British rate to 50p and revenues slumped.

Smart talented people like myself are choosing expatriation because it is not logical to sit back and be punished for daring to work hard.

 

[Cruiser Elite]

Smart talented people like myself are choosing expatriation

Would Robert Muldoon please step up to the microphone?

Or maybe it's just a one way street - 'shoulder shrug' - probably yes.

 

[cove]

You probably gather that I have run out of tax bills for this year.

 

[drsmithy]

Exactly - CGT revenues increased when Costello introduced the 50% discount for holding assets for longer than 12 months to replace the indexation method, in the same way when Gordon Brown increased the top British rate to 50p and revenues slumped.

Smart talented people like myself are choosing expatriation because it is not logical to sit back and be punished for daring to work hard.

Yet most of the rest of the world - particularly the bits of it you'd actually want to live in - has higher taxes than Australia...

People are leaving because the country has been run into the ground by greed, jobs are scarce, wage growth is dismal, and our system panders primarily to rent-seeking (and especially the parasitical FIRE sector - negative gearing and Costello's catastrophic CGT changes mentioned above, petrol on the fire for the property bubble - being prime examples) rather than productive industry.

The success of post-WW2 USA puts paid to any argument "high taxes" inherently impede growth, innovation and entrepreneurialism.