ATO (tax office) payments by credit card

[MARTINE]

Of course it will - many people would never have thought of using a CC but now will do.

Whenever you log into my gov to pay a tax obligation , CC has always been there as a method of payment.
>80% of tax returns result in a refund so its a small percentage that need to pay (I am not including businesses and other ATO payments).
I agree more will likely now though!

 

[Bofter]

Whenever you log into my gov to pay a tax obligation , CC has always been there as a method of payment.
>80% of tax returns result in a refund so its a small percentage that need to pay (I am not including businesses and other ATO payments).
I agree more will likely now though!

Agree that CC payments to the ATO probably isn't that relevant to the greatest number of the public whose employers do PAYE for them and they seek a refund of varying size.
Individuals - I think there was some mention of big CGT bills as one example.
Businesses - for some small businesses, but only for those engaged in the topic.

I own and operate a small business, so my interest in the topic has been on the second front, over the past decade(-ish) and now. Not the everyone situation, but there are quite a lot of small businesses around.

 

[serfty]

Whenever you log into my gov to pay a tax obligation , CC has always been there as a method of payment.
>80% of tax returns result in a refund so its a small percentage that need to pay (I am not including businesses and other ATO payments).
I agree more will likely now though!

You cannot really exclude businesses are they the most likely to need to pay the ATO. BAS for example, monthly or quarterly and maybe annually.

Note the ability to pay by credit card has been around since 2009 - my needs predate that.

(Before 2009, BPay comes to mind as the most contemporary method.)

 

[prozac]

You cannot really exclude businesses are they the most likely to need to pay the ATO. BAS for example, monthly or quarterly and maybe annually.

Note the ability to pay by credit card has been around since 2009 - my needs predate that.

(Before 2009, BPay comes to mind as the most contemporary method.)

Correct. I have 1/4 BAS and 2 lots of scheduled PAYG etc.

 

[burmans]

Stopped also for business or only individuals?

I’m mainly going off reports on this forum which would tend more to businesses than individuals as they tend to have greater bills to take advantage of these opportunities.

 

[Seat0B]

I have a CGT bill to pay this year as I sold an investment property, so come 31 Oct I am going to smash all of it onto my Amex platinum card for the free points, plus the interest free period as well.

Ooh yes me too. A big one for sale of a commercial property. I will pay it by card for sure!

 

[cove]

Have last two quarterlies to go by 28th. It sure is points city for us as I love free points. My Amex Platinum Edge is getting reloaded.
Now I lodged a request for a higher limit on Edge but have heard nothing.

 

[platinumEnjoyer]

This is such a laugh, I've enjoyed giving my spending power a workout on my plat charge. I'm also getting double interest for a month or so on my tax bill by paying it early (paid my taxes on day 1 of my statement period, so 44 days interest free with the money sat in my HYSA, as well as the ATO paying me interest for an early payment of my taxes).

So for 44 days, I'm getting 4.43% interest from the ATO, on top of Macquarie's 5.25% in my savings account, PLUS a significant chunk of amex points that I'll use on my travels. Those ads of "going on holiday by paying your taxes" are finally accurate!

Now that the deadline's been extended, I'll put the remainder of my student loans through in June next year too. Makes sense why they are closing this but for now I am laughing all the way to the bank.

 

[Seat0B]

This is such a laugh, I've enjoyed giving my spending power a workout on my plat charge. I'm also getting double interest for a month or so on my tax bill by paying it early (paid my taxes on day 1 of my statement period, so 44 days interest free with the money sat in my HYSA, as well as the ATO paying me interest for an early payment of my taxes).

So for 44 days, I'm getting 4.43% interest from the ATO, on top of Macquarie's 5.25% in my savings account, PLUS a significant chunk of amex points that I'll use on my travels. Those ads of "going on holiday by paying your taxes" are finally accurate!

Now that the deadline's been extended, I'll put the remainder of my student loans through in June next year too. Makes sense why they are closing this but for now I am laughing all the way to the bank.

Yes that will be me too when I pay the GST associated with the sale of commercial property. It's currently in the bank. It will be due in end of Feb, I will prepay it to ATO on Amex charge card in late Jan and do the same double dip. And then again at the end of FY for the CGT due on this transaction. Happy days.

 

[ChrisFlyer]

Now that the deadline's been extended, I'll put the remainder of my student loans through in June next year too. Makes sense why they are closing this but for now I am laughing all the way to the bank.

Don't forget that the ATO applies indexation on 1 June each year for HECS etc, so if you pay before then (and do it a week or so prior to 1 June, to make sure that the payment clears onto your account in time), you'll save your balance from going up while getting those free points. No advantage to paying it any sooner than late May, but a definite sdvantage to paying it before June comes.