ATO (tax office) payments by credit card

[cove]

Yes burmans I don't need any more red tape in my life so we are just under on June 30th. I hope to be able to make a chunk on this tax free each year and pull it out as a tax free pension.
There is very good news coming.....Bill Shorten wants to raise income taxes for many of us in his first 100 days in office. Think of the frequent flyer points you can generate with him as PM.

 

[adamonline]

Looks like there was an update to the ATO Card Payment Fee page yesterday. New rates split out the international and domestic but also the debit cards. Looks like that could be quite beneficial for users of Only1 Visa and others.

Card type	Fee
American Express	1.45%
MasterCard – International	2.70%
MasterCard – Domestic Debit	0.15%
MasterCard – Domestic Credit	0.40%
Visa – International	2.70%
Visa – Domestic Debit	0.15%
Visa – Domestic Credit	0.58%

 

[albyd]

Looks like my Citi US MC will go in the bottom drawer now. Shame as it was going to do the heavy ATO lifting in the new world. Assuming Visa1's are going to be more difficult to find if the lower interchange applies going forward - very cost (not time) effective method of paying.
RewardPay is another option with Amex Explorer - although at 2.6% = 1.3c/MR, only marginally cheaper than Amex direct on the website at 1.45% unless you can get a deduction for the RewardPay fee.

 

[amaroo]

Interesting change... must have been a decent surge in foreign card users.

 

[BacchusMarsh]

RewardPay is another option with Amex Explorer - although at 2.6% = 1.3c/MR, only marginally cheaper than Amex direct on the website at 1.45% unless you can get a deduction for the RewardPay fee.

But wouldn't direct be 1.45c for 0.5MR?

 

[cove]

Thanks for your helpful post adamonline.
Ouch on International CCs.
Nice on a MasterCard I use.
Not so good on a Visa card I use sparingly.
US Amex exchange rate is no good so don't go there.

 

[albyd]

Good point (pardon the pun) BacchusMarsh. Also just did a tester with visa1 and it indeed prices up at 0.15%. Might do a combo of Visa1 and RewardPay for larger payments - should blend my rate down.

 

[cove]

I will have a chunk to pay this month as the quarterlies are due.

 

[get me outta here]

And, as long as the BWW holds up cove, it looks pretty good. Thanks adamonline.

I will have a chunk to pay this month as the quarterlies are due.

 

[citrusb]

Good point (pardon the pun) BacchusMarsh. Also just did a tester with visa1 and it indeed prices up at 0.15%. Might do a combo of Visa1 and RewardPay for larger payments - should blend my rate down.

Which visa card are we meaning....visa 1 ??

 

[albyd]

It's a prepaid card $50 and $100 sold at major supermarkets.

 

[Kangol]

Looks like there was an update to the ATO Card Payment Fee page yesterday. New rates split out the international and domestic but also the debit cards. Looks like that could be quite beneficial for users of Only1 Visa and others.

Card type	Fee
American Express	1.45%
MasterCard – International	2.70%
MasterCard – Domestic Debit	0.15%
MasterCard – Domestic Credit	0.40%
Visa – International	2.70%
Visa – Domestic Debit	0.15%
Visa – Domestic Credit	0.58%

Interesting - how could there be so much of a difference between MC and Visa domestic credit surcharges? Has Visa always been higher?

 

[JohnK]

im just reading this thread as I am a PAYG employee with no business,
would it possible to pay extra tax throughout the year (or just before tax time) with various gift cards, and then when I do my tax return get a huge return?

Don't attract too much attention but that should be possible. I overpay ~$60/week but that's done through the employer.

 

[kpc]

Interesting - how could there be so much of a difference between MC and Visa domestic credit surcharges? Has Visa always been higher?

My thoughts too....

 

[cove]

I was surprised by the changes too.

 

[PLANT]

Is Visa1 classed as a debit or credit card by the ATO computer.... Mention of 0.58% for visa1 card on thread?

 

[bbqwer]

I am using vpay harvey norman just now : Card payment fee - ATO (0.15%)

 

[bbqwer]

Is Visa1 classed as a debit or credit card by the ATO computer.... Mention of 0.58% for visa1 card on thread?

Card payment fee - ATO (0.15%)

 

[Scr77]

I am using vpay harvey norman just now : Card payment fee - ATO (0.15%)

So Harvey Norman don't charge a fee to purchase? Max card value $500 or are there larger cards?

 

[lovetravellingoz]

Is Visa1 classed as a debit or credit card by the ATO computer.... Mention of 0.58% for visa1 card on thread?

When I have used it the ATO Gateway IN THE PAST it has always charged me the then VISA/MC fee rate. (0.54% previously).