ATO (tax office) payments by credit card

burmans said:
Also not sure of this pre-loading policy, personally think this is better on the same day. The reason I say this is the way banks process payments, i.e. they don't match in the way you want them to. If you have a debit balance on the card payments will go to EXISTING debt whereas debit would create a NEW debt..
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My concern with neatly having the same value transactions going onto the card then off to the ATO is justifying why I have arranged my company tax affairs in this way. There is no benefit to the company and in fact doing this is a higher expense to the company as we incur the credit card fee.

Just a thought.
 
albatross710 said:
My concern with neatly having the same value transactions going onto the card then off to the ATO is justifying why I have arranged my company tax affairs in this way. There is no benefit to the company and in fact doing this is a higher expense to the company as we incur the credit card fee.

Just a thought.
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The ATO does not penalise or descriminate "dumb business decisions" that cost the business "profit".

The ATO is no wiser as to if you need to use credit each quarter to cover your obligations, or if you choose to do it to benifit your points count. They get their money, we get our points. They are happy.

I'm yet to hear about anyone getting pinged for ff points. Many years ago there were rumours but I'm still waiting to hear of a case.

It's working a treat for me. The benefits paying the extra x% via CC far exceeds the costs for me. And it is deductible.

Meloz
 
PLANT said:
Howdy,

Well have to pay 1,279 Tax this year and PAYG.
Not a business.
Got the Tax letter and no info to pay via credit card?
Where do I go?

At 0.69 % CC fee...$9 worth the points?

Went to Tax website and How to pay

Now what FREE card can I get in 14 days that has FF attached?
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How to pay

here's the link to the ato website. the tab on the left hand side that says "how to pay" basically.
and as to which card, it depends on who or who you want to have FF with
 
What figure of PAYG tax would be worth the 0.65% to get QFF points?
ie. 5k-10k a quarter?

Which Free card would you go for?
 
Tax time again....!

More PAYG to be paid...
More GST to be paid
More FF Points to be Harvested :D
 
shintaro10x said:
But not a free card... as the original request what "free" card was available quickly...
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Not a free card - they pay you to apply - cost is $89/year and they give you 16,000 points when you first use it.

At 1c per point that is a $160 bribe / payment that more than off-sets the $89 cost in the first year - so better than free.

Also it is one of the few visa cards that gives 1 point per dollar and is also uncapped!

Best visa card deal available at the moment! - Any better offers out there?
 
Everydayrewards and Citi get you the cheapest points at 0.65 cents a point on a point a dollar card.It almost makes you want tax rates to go up......Hey they are on July 1st for the flood levy!Tax deductibility is a discussion for you and your tax agent.Just remember not to exceed any Citi points capping. EDR is not capped so I can see why Angus would be keen on Woolworths and earning Qantas points where a one way coast to coast in J is so reasonable.
 
angusburns said:
Not a free card - they pay you to apply - cost is $89/year and they give you 16,000 points when you first use it.

At 1c per point that is a $160 bribe / payment that more than off-sets the $89 cost in the first year - so better than free.

Also it is one of the few visa cards that gives 1 point per dollar and is also uncapped!

Best visa card deal available at the moment! - Any better offers out there?
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Definition of free:

something provided without, or not subject to, a charge or payment
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They give you bonus points for sign up at a cost to you of $89, if it was free then you would not pay. It is not possible to obtain a QEDRCC without paying :p (unless you work for woolworths...!)

Edit: By the way, I have this card and it is very good value, not a free card but one of the best entry level cards out there at the moment, Bonus sign up points and a true 1:1 earn rate
 
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I agree, the Woolies card is not free - they pay you to have it in the first year, probably the second as well, and then the value of the bonus points / bribe is exceeded by the third years fees.

Citibank are/were offering 60,000 points for their 1:1 visa card with a $295(?) annual fee. But their points earning was capped at 120,000. So if you could be bothered to apply for it, burn the $120,000 and then cancel it all in the first year then you would be up, assuming the time cost and aggravation of dealing with Citibank was worth it - after three Citibank cards I don't think it's worth the hassle.

What do you call a card where they give you more points to sign up than the annual fee? bribe card? incentive card? loss-leader card?

BTW, I also dislike the way people use the word 'free' when they mean 'included with'.
eg buy one get one free etc. when they mean half price it you buy two. Should be illegal.
 
Have one quarterly tax bill to pay tomorrow so that horror story can go away for another 3 months.
The Woolworths EDR card really is slow on crediting BPay amounts compared with other cards I use.
I may have to Amex this last one as 28th is the due date if the BPay does not clear after 3 days.
 
cove said:
Have one quarterly tax bill to pay tomorrow so that horror story can go away for another 3 months.
The Woolworths EDR card really is slow on crediting BPay amounts compared with other cards I use.
I may have to Amex this last one as 28th is the due date if the BPay does not clear after 3 days.
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Yeah, its a real shame that this card has such long delays when BPaying re-payments into it or Bpaying bill payments with it. Hence why I have a reputation of going into the local Woolworths supermarket to make top-up deposits with a fist full of cash which clears instantly...! Seems to be a little better to manage with the 20% credit limit increase I have recently been given.

Other than that it's a really good card...

Not sure what you mean by "horror story"...? Ever since discovering this thread and earning FF points on PAYG & BAS payments, I actually feel not too bad paying these taxes now :p
 
I enjoy paying BAS monthly on several credit cards by 21st.Every 3 months we get quarterly income tax bills to pay by July28th,October28th,January28th and April28th and they are the ones that can rely hurt!
 
Just paid my $27,500 PAYG on the NAB Amex for 1.5 points per dollar uncapped.

Surcharge of $343.75 which is tax deductible therefore costs me $183.91 after tax.

Get to leave the $27,500 in the mortgage offset account for 45 days saving $27,500 x 6.97%/3365x45 = $236.31 interest.

Therefore I am $52.40 better off and get 41,250 points as well.

If you have to pay tax you may as well get something for it.
 
And I must ask why you left off the flood levy in your calculation. That is a one per cent extra in 2012 making the highest rate 47.5% I think.Get rid of that mortgage as quickly as you can if it is not tax deductible as you can work out how much you have to earn to pay for it.
 
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Hello I am new to this and the answers to my questions may lie in the 350+ posts on this subject but perhaps someone in the know can put me out of my misery.
  • Is there an upper limit to the amount of tax you can pay by cc, specifically Amex?
  • When I used my Visa to pay my BAS the netbank transaction stated something like "this will be noted as a cash advance". As cash advances do not usually attract points have I been dudded?
  • I've forgotten the last question.....my network died and I couldn't save my first draft. If I remember it I'll try again.
Thanks for your help in anticipation :D
 

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