ATO (tax office) payments by credit card

[legroom]

yep and then read the rest of this thread. Sorry but there is no replacement for elbow grease (or whatever the eyeball equivalent thereof is)

A form of initiation perhaps

Learning a new lingo to communicate ?

 

[Newk]

A form of initiation perhaps

Learning a new lingo to communicate ?

yes, and something about "helping people who help themselves" springs to mind as well. Sorry to the person who asked the question but there is also far too much knowledge in this thread to be distilled down into a few pat answers. It will make your eyes roll back into your head and you will get dizzy and totally sick of it BUT if you read all this thread and all the places it will take you (literally and mentally) you will be much better off for it.

 

[NM]

Due to some circumstances beyond my control, I may have to look more carefully at this thread at the end of the tax year

 

[Pushka]

Due to some circumstances beyond my control, I may have to look more carefully at this thread at the end of the tax year

Start at page 1 then. . No benefits for being a mod.

Altitude Black given a workout today. Just posted BAS2 and sure enough in the mail is the next instalment notice for PAYE. If I wasn't getting the points I'd say their timing sucks and was deliberately timed to antagonise.

 

[NM]

Start at page 1 then. . No benefits for being a mod.

Altitude Black given a workout today. Just posted BAS2 and sure enough in the mail is the next instalment notice for PAYE. If I wasn't getting the points I'd say their timing sucks and was deliberately timed to antagonise.

LOL. Mine will not be anything to do with BAS. Just some foreign investment income that I was not expecting to be redeemed until next FY. But it looks like I may have to pay tax (well, additional to my regular PAYE tax) this year. And while my amount will be trivial compared with other AFF members, I will need to weigh up the "value" of earning points/miles etc from various schemes for this one-off scenario.

 

[DaveB]

The Q2 BAS gets me every year lining up with EOM payments. No choice but of all days had to dust off two QF earning cards to take some of the action.

 

[cove]

Following the changes by Citibank and direct branded American Express cards it was time to move on from using any of these cards to pay the ATO. You may be lucky and get a point a dollar from a directly branded Amex card but the rules say 0.5 points per dollar.
It seems that the big 4 banks have Amex versions of their twin sets of cards that can get you 1.5 points for 1.45 % fee on an uncapped basis but you need to check that out yourself as some of the less premium cards can be points capped or have lower points earning rates.
Woolworths Everyday Rewards MasterCard is uncapped but they would be likely to cancel your card if all you gave them was ATO bills and nothing else. It is a QF point per dollar and the fee to ATO is 0.42%. I still love this card and it is my personal expenses card. I never put this card into credit balance and I live with the credit limit that is 4 times lower than my biggest Westpac card.
The black Altitude and Earth Amex cards from Westpac have worked sweetly but many AFFers hate paying the high annual fee which is a significant issue if you only owe a few thousand dollars to the ATO. I think they are about $395 annually with a bit of a sign on bonus in the first year.
My suggestion is that you work out where you want to travel to and then develop the cards that will suit you to do just that.
Getting caught half way in two or three points earning systems can keep you grounded if you get mixed up.

 

[Buzzard]

I just paid my Q2 BAS using an ANZ branded AMEX at a fee of ~1.45%, earning 1.5 points per dollar.

When last speaking to the bank I did check that there is no points cap on this card

Many thanks for your post (above) Cove, we all benefit when we share.

 

[cove]

I had time last night while I was stewing about Qantas and Perth.
I tried to make that post useful seeing js got it all started years ago.

 

[prozac]

If you go 0.33% divided by 0.625% for Westpac Black Altitude MasterCard the cost of a net frequent flyer point is 0.5 cents.
If you want Qantas points you could go Woolies EDRCC or Bankwest Platinum for a net frequent flyer point costing 0.33 cents.

Just having trouble obtaining same answer as you cove for scenario above. Using Black MC then 0.0033/0.625 = 0.528c?

Applying to ATO payment where mc is 0.42% and black amex is 1.45% then for black amex (1.5 points per dollar) the cost is:- 0.0145/0.015= 0.967c per point

On the ATO site I gather you follow the Pay by Credit Card link?

 

[cove]

If you start off with 0.42% divided by .625 points earn rate that does give you a cheaper cost of 0.672% but the points earn looks pretty miserable when you want to fly family to wherever. If it applies you may take off the tax deduction at your marginal tax rate. I only use the Altitude Black MasterCard when I want some really cheap points after I have plenty of points accumulated in a warehouse.
Yes I use the website now to track the receipts for a dozen different tax accounts otherwise it can get too confusing.

 

[ComeFlyWithMe]

If you start off with 0.42% divided by .625 points earn rate that does give you a cheaper cost of 0.672% but the points earn looks pretty miserable when you want to fly family to wherever. If it applies you may take off the tax deduction at your marginal tax rate. I only use the Altitude Black MasterCard when I want some really cheap points after I have plenty of points accumulated in a warehouse.
Yes I use the website now to track the receipts for a dozen different tax accounts otherwise it can get too confusing.

O/T The Black M/C is also useful for overseas purchases as it earns the same 1.5pts as the Amex when o/s or on foreign currency purchases. Not helpful for ATO where the WWEDR is better

 

[prozac]

O/T The Black M/C is also useful for overseas purchases as it earns the same 1.5pts as the Amex when o/s or on foreign currency purchases. Not helpful for ATO where the WWEDR is better

Be careful when checking your Black mc o/s points earn. I had issue when Altitude refused to honour the points when I paid MH in KL for fees and taxes relating to an award booking. Because I paid in AUD (it was cheaper on the day) they maintained it was not an o/s transaction. After 2 attempts I insisted on taking my complaint higher and it was finally accepted and 3 full points allocated.

What does everyone consider an acceptable price to "pay" for points when paying for things such as ATO payments?

 

[Buzzard]

Be careful when checking your Black mc o/s points earn. I had issue when Altitude refused to honour the points when I paid MH in KL for fees and taxes relating to an award booking. Because I paid in AUD (it was cheaper on the day) they maintained it was not an o/s transaction. After 2 attempts I insisted on taking my complaint higher and it was finally accepted and 3 full points allocated.

What does everyone consider an acceptable price to "pay" for points when paying for things such as ATO payments?

I usually pay ~ $0.005 per point but would pay up to $0.01 per point

 

[Cruiser Elite]

What does everyone consider an acceptable price to "pay" for points when paying for things such as ATO payments?

<1c/pt and I am all over it like nappy rash.

 

[nonpop]

What does everyone consider an acceptable price to "pay" for points when paying for things such as ATO payments?

Max I will pay is 1 cent / point ... but the objective is to have 80%+ of points at $n/c. So we do review the earn / burn pricing combined if we need to top up. I figure that in a fire-sale of points I get about 1 cent of value. We strive for 5 cents+ on J tickets. Considering points devalue over time and earn no interest, once we start having to 'pay' for them, then the real cost can mount up quickly. Take care of the pennies and the pounds will take care of themselves is a concept a lot of people seem to forget combined with compounding interest.

 

[prozac]

<1c/pt and I am all over it like nappy rash.

Lol.

So whilst neither as good as the WWEDR Cc, using black amex at just under 1c per point or black mc at 0.672c point are both acceptable...

 

[Cruiser Elite]

Lol.

So whilst neither as good as the WWEDR Cc, using black amex at just under 1c per point or black mc at 0.672c point are both acceptable...

Prozac I am a simple man who thinks along a straight and narrow simple path:

eg 1 - Suite Saver to Europe on SQ req 112Kpts @ approx. 1c = $1,126 + taxes x 2 to get home as well = NO BRAINER

eg 2 - F Redemption MEL-LAX on QF req 140Kpts @ approx. 1c = $1,400 + taxes x 2 to get home as well = NO BRAINER

As I said at <1c/pt I am all over it like A CHEAP SUIT.

 

[amaroo]

If I was a single joyrider I'd stick with MC however, I'm a quad flyer so I pony up for 1.45% that Amex slugs.

I consider ATO points are the only ones I pay for - all the rest are classed as free in my books.

 

[legroom]

Prozac I am a simple man who thinks along a straight and narrow simple path:

eg 1 - Suite Saver to Europe on SQ req 112Kpts @ approx. 1c = $1,126 + taxes x 2 to get home as well = NO BRAINER

eg 2 - F Redemption MEL-LAX on QF req 140Kpts @ approx. 1c = $1,400 + taxes x 2 to get home as well = NO BRAINER

As I said at <1c/pt I am all over it like A CHEAP SUIT.

Ever since I came here (AFF), I have become a 'no brainer'.

7-figure KF, 6-figure QF and counting...