ATO (tax office) payments by credit card

Just wanted to give you guys a heads up of my experience today. I've bought GCs to pay the ATO - sometimes more than I owe in error - much like a number on this thread have done over the years (either that or I've completely misunderstood).

I have been waiting for a refund to show up dated 1 September, I called my accountant this afternoon who investigated and told me the refunds have been cancelled & the ATO is holding onto all of these funds and couldn't give me a time frame to get them back. Just a word to the wise re this. I'm sure most have been paying tax bills and not making a habit of over-paying.

Interested to hear if anyone else has been caught up in all this.
 
albyd said:
Just wanted to give you guys a heads up of my experience today. I've bought GCs to pay the ATO - sometimes more than I owe in error - much like a number on this thread have done over the years (either that or I've completely misunderstood).

I have been waiting for a refund to show up dated 1 September, I called my accountant this afternoon who investigated and told me the refunds have been cancelled & the ATO is holding onto all of these funds and couldn't give me a time frame to get them back. Just a word to the wise re this. I'm sure most have been paying tax bills and not making a habit of over-paying.

Interested to hear if anyone else has been caught up in all this.
Click to expand...
Did you initiate the refund yourself online?
If not, how did you request it?
 
I initiated the refund myself on the portal this time as I didn't want to bother my accountant - appears I should have bothered my accountant or someone at the ATO no longer wants to process these refunds.

A mate of mine told me how to get onto the portal and do it myself. I prob should've kept getting the accountant to do it in hindsight.
 
albyd said:
I initiated the refund myself on the portal this time as I didn't want to bother my accountant - appears I should have bothered my accountant or someone at the ATO no longer wants to process these refunds.

A mate of mine told me how to get onto the portal and do it myself. I prob should've kept getting the accountant to do it in hindsight.
Click to expand...
Just call the Ato and they will issue a refund.
 
IME payments made before June 30 then factored into the amount that came back with a personal income tax return.
 
Have anyone tried Mobile Pay eGift Card to pay to ATO.
VABF is paying 2.5 points per $ on the purchase of this gift card, so was thinking to use it for the next BAS payment.

Please let me know if there is any other better offer as well.

Cheers
 
albyd said:
Just wanted to give you guys a heads up of my experience today. I've bought GCs to pay the ATO - sometimes more than I owe in error - much like a number on this thread have done over the years (either that or I've completely misunderstood).

I have been waiting for a refund to show up dated 1 September, I called my accountant this afternoon who investigated and told me the refunds have been cancelled & the ATO is holding onto all of these funds and couldn't give me a time frame to get them back. Just a word to the wise re this. I'm sure most have been paying tax bills and not making a habit of over-paying.

Interested to hear if anyone else has been caught up in all this.
Click to expand...
I dont mind leaving some money w ATO - max $100 as it will inevitably come off a future liability and points to me being ahead. I always pay early as they pay 7.1% interest if I do which I struggle to get elsewhere. Is it a large amount @albyd ?
 
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Thanks for sharing @shak151 - much appreciated. I'm currently using the Coles offer - though I've needed to pause it given that my $$ has become "trapped" at the fiscal fiend pending the generation of additional tax liability to offset these credits against. I'm going to moderate my payment activities in the interim.
 
albyd said:
Thanks for sharing @shak151 - much appreciated. I'm currently using the Coles offer - though I've needed to pause it given that my $$ has become "trapped" at the fiscal fiend pending the generation of additional tax liability to offset these credits against. I'm going to moderate my payment activities in the interim.
Click to expand...
I couldn't find any recent offer on the Coles mastercard to use with the upcoming BAS payment. Do you have any other better offer which I can utilize to pay to ATO
 
MARTINE said:
I dont mind leaving some money w ATO - max $100 as it will inevitably come off a future liability and points to me being ahead. I always pay early as they pay 7.1% interest if I do which I struggle to get elsewhere. Is it a large amount @albyd ?
Click to expand...
ATO pays 7.1% interest for money sitting on credit on tax account??
 
shak151 said:
I couldn't find any recent offer on the Coles mastercard to use with the upcoming BAS payment. Do you have any other better offer which I can utilize to pay to ATO
Click to expand...
How about this one:

I usually buy the $250 GCs as don't need quite so many (I remember the "old" days with the $100 Only 1 Visa GCs from Woolies) so it's less labour intensive. I tend to use them straight away. Be aware that this site is onto those of us (I mean me and anyone who cares to admit to it) that buy these in bulk so I can buy 10 at a time and not every 24 hours as was previously the case, just at their discretion.

ATO also limits it to 5 payments in any 24 hour period (they too have been progressively tightening up on this). So I think unless you can allow a huge time leeway to when your ATO bill is due, we may be very close to the end of the line where these will be a viable strategy which doesn't eat up too much time.
 
lilkid28 said:
ATO pays 7.1% interest for money sitting on credit on tax account??
Click to expand...
Yes
If you pay a tax liability more than 14 days before due. Eg FY 22 due May24 (has been lodged) Paid Sep 23 - 7.1% paid for the early repayment up until 14d due. I suppose its not credit as such (as it was due) but it earns less if I leave it in the bank and it has to be paid anyway.
 
First I’ve heard of that. I’ve had $2k sitting in credit in my PAYG account for 5 months which they refuse to refund and yet to be credited a cent of interest. How do I go about making this happen?
 
NoName said:
First I’ve heard of that. I’ve had $2k sitting in credit in my PAYG account for 5 months which they refuse to refund and yet to be credited a cent of interest. How do I go about making this happen?
Click to expand...
Get your accountant to investigate.
I am not sure if they look at overall payment schedule etc. (never in arrears/no extensions/history of early payment) 🤷‍♀️My comms say words to the effect of you are eligible for interest for early payment greater than 14 days
 

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