ATO (tax office) payments by credit card

[PLANT]

So to confirm at least it must be on a QFF ATTACHED CREDIT CARD?
Not worth it for a normal points credit card?

KLN is that an upgrade on a cheap ticket or the Business class ticket?
The "fee" can be claim in Tax?

 

[KLN]

have previously done upgrades reguarly with Singapore and Malaysian. due to an excessive amount of points this year, both Mr KLN and myself going J all the way to Europe in April/May and return. i don't transfer to QFF at all, not worth it. can get better upgrades and guaranteed with the others usually. i semi-book Y over the internet (not quite complete the transaction), then ring the airline to confirm how many upgradeable seats are available. they've always told me, if it's suits then, i complete the transaction, transfer points and request upgrade. if the seats aren't available i change the flights around. have never failed yet.

 

[burmans]

So to confirm at least it must be on a QFF ATTACHED CREDIT CARD?
Not worth it for a normal points credit card?

KLN is that an upgrade on a cheap ticket or the Business class ticket?
The "fee" can be claim in Tax?

No no, does not have to be QFF. Some use Amex because they can then send to other carriers and while the rate is .83/point they value other carrrier points (e.g. Singapore Air in my case) as better value than this. E.g. on new points schedule you can get to most of SE Asia for 42,500 points + tax (in Y). Can't do that with QFF!

 

[kpc]

I'm in a bit of shock...got my updated PAYG notification today; with my previous tax owing, and my new BAS amounts, I have to pay a a large amount in tax over the next 2 months:shock:. Will be good for my points balance, but where do I find the cash to pay...

 

[Stephen65]

I'm in a bit of shock...got my updated PAYG notification today; with my previous tax owing, and my new BAS amounts, I have to pay a a large amount in tax over the next 2 months:shock:. Will be good for my points balance, but where do I find the cash to pay...

Pay for it on CC and delay the pain for up to 55 days. Then if you need cash (assuming you are a sole trader or a company) draw down on your business overdraft to pay your CC. The interest you pay when you borrow to pay a tax bill is deductible for sole traders and companies.

 

[kpc]

Pay for it on CC and delay the pain for up to 55 days. Then if you need cash (assuming you are a sole trader or a company) draw down on your business overdraft to pay your CC. The interest you pay when you borrow to pay a tax bill is deductible for sole traders and companies.

Good plan altho. I figured that if I eliminate all travel / dining out for the next 2 months, that may work as well...

 

[coyote25]

Today marked the start of what I hope to be a long and successful relationship between my credit cards and the ATO.

$235k in various taxes paid this evening, post 6pm, for a nice quarterly haul of 353k points. At a cost of less than 1 cent per mile/ point I am extremely happy with the outcome.

This may prove to be my second best $/point earning avenue.

Amazing earn rate and you're supporting the community

 

[Peter2]

Hi Guys.... just lurking here again.... This thread is so valuable to me I have to check back every week or so to see what new games people are playing...

I have said it before here but I query if this can all last... I am racking up so many points from business expenses and cashing them in that the CC is becoming a separate revenue generation and holiday center...

Surely the banks will have to clamp down on this eventually? So, make hay why the sun shines guys!

I am just a bit upset of the couple of millions of points I missed out on before reading this thread & that our office won't put all the taxes (incl PAYE) through my CC. I'm working on them though!

 

[drron]

Well I am disappointed.My Super fund had a much better year last year so owe tax.The assessment came with the words in bold print at the bottom-Payments can not be made by credit card.Unfortunately it is logical as the super fund cant have a credit card but still mourning the lost points opportunity.

 

[Flashback]

Well I am disappointed.My Super fund had a much better year last year so owe tax.The assessment came with the words in bold print at the bottom-Payments can not be made by credit card.Unfortunately it is logical as the super fund cant have a credit card but still mourning the lost points opportunity.

The assessment from the ATO? Even if it says that, you can still use the details on it to pay via the portal...

 

[sjf]

Well I am disappointed.My Super fund had a much better year last year so owe tax.The assessment came with the words in bold print at the bottom-Payments can not be made by credit card.Unfortunately it is logical as the super fund cant have a credit card but still mourning the lost points opportunity.

I paid mine by credit card last week, I transferred the full tax liability out of the fund as a reimbursement. I didn't want to push things with the auditor so didn't put the card service fee through the fund.

 

[pagingjoan]

The assessment from the ATO? Even if it says that, you can still use the details on it to pay via the portal...

Agree with that. I had always taken the "cannot be paid by CC" statement at face value - until I tripped over this thread recently. Have since made several payments by CC and they have gone through with no apparent problems.
Perhaps a misalignment between the trial when it was first introduced, and the standard form design?

 

[sjf]

Agree with that. I had always taken the "cannot be paid by CC" statement at face value - until I tripped over this thread recently. Have since made several payments by CC and they have gone through with no apparent problems.
Perhaps a misalignment between the trial when it was first introduced, and the standard form design?

I'm personally hoping they never change the stationary. The more attention it gets the higher the likely hood that things will be tightened.

 

[pagingjoan]

I'm personally hoping they never change the stationary. The more attention it gets the higher the likely hood that things will be tightened.

Good point!

 

[wafliron]

Well I am disappointed.My Super fund had a much better year last year so owe tax.The assessment came with the words in bold print at the bottom-Payments can not be made by credit card.Unfortunately it is logical as the super fund cant have a credit card but still mourning the lost points opportunity.

AFAIK, nothing stopping you paying another entity's tax on your CC and getting a reimbursement from them... that's what I'm doing. Makes the CC fee non-deductible though (again AFAIK).

 

[Timtammi]

Agree with that. I had always taken the "cannot be paid by CC" statement at face value - until I tripped over this thread recently.

Ditto for me

 

[KLN]

Well I am disappointed.My Super fund had a much better year last year so owe tax.The assessment came with the words in bold print at the bottom-Payments can not be made by credit card.Unfortunately it is logical as the super fund cant have a credit card but still mourning the lost points opportunity.

Yes agree Flashware. My SMSF needed to pay tax too, i just paid it on my CC, and the SMSF re-pays me. i'm happy to wear the surcharge, also for my elderly MIL, i voluntarily paid hers too. Aren't i a good daughter in law.

 

[angusburns]

For any lurkers out there - best to pay on the ATO Card Pay website as some bank websites say that you cannot pay the ATO when you try to do a BPay.

https://www.optussmartpay.com/governmenteasypay-ato/payment_details.jsp

 

[nonpop]

I have to chime in one more time. Paying tax never felt so good.
Just booked a pair of J QF seats SYD > BKK return.
Thank you to the OP for sharing this (dirty) little secret.

 

[cove]

Went to London on an SQ Kris Flyer points flight and scored seats 2A and 2F for sleeping and the 2 middle seats for dining and movies. Dom Perignon,caviar and lobster Thermidor were included so I am happy doing taxes on a favourite credit card.