New Amex statement credits

[DejaBrew]

I for one would love a hotel % based cashback - the minimums are usually far below what I spend on work travel so 400/80 vs a flat 20% is a no brainer for me.

Yeah, that's why I say the % offers are certainly beneficial for some things, but less attractive for others. Six to one, half a dozen to the other I guess.

 

[DejaBrew]

ResMed - 7% back every time

 

[FlyingKangaroo]

It's always worth checking back the next day if there's an offer you're interested in that hasn't appeared for you. I'm not sure if it's just because their systems take a while to roll these things out, or if they're deliberately rolled out in stages depending on uptake. Either way I've often found an offer that hasn't appeared for me will show up a day or two later.

A Qantas offer has only come up for me once, and it happened during a period in which I hadn't recently spent anything on air travel. The last two times others have reported it occurred during statement periods wherein I'd already purchased Qantas flights.

So my new new conspiracy theory is that the algorithm sees this and doesn't bother offering it to me. Probably not true, but I'm allowing myself to indulge the scepticism.

 

[SydneySwan]

ResMed - 7% back every time

Every time you buy the shares?

 

[SYD]

Every time you buy the shares?

I was pondering that!

 

[DejaBrew]

The Collective: Participating Venues - $250/$50 up to 4 times

 

[DejaBrew]

Australian Red Cross - $70/$20

 

[SYD]

Australian Red Cross - $70/$20

Only on my QF Small Biz CC.

Coach - $55 / $500 also

 

[FlyingKangaroo]

Australian Red Cross - $70/$20

Well there's a nice feel-good way to make a $70 donation that almost costs you nothing once you account for tax deductions.

 

[DejaBrew]

Coach - $55 / $500 also

Wait wait..... they pay you to buy Coach products????

 

[muppet]

Well there's a nice feel-good way to make a $70 donation that almost costs you nothing once you account for tax deductions.

Well the ATO may have a different interpretation….. but agreed you’d probably get away with it even if audited.

 

[andye]

Australian Red Cross - $70/$20

That's the most generous charity one I've seen in a while

 

[MathNerd]

Australian Red Cross - $70/$20

Well there's a nice feel-good way to make a $70 donation that almost costs you nothing once you account for tax deductions.

Well the ATO may have a different interpretation….. but agreed you’d probably get away with it even if audited.

Interesting, the previous iterations of this offer had a line in the terms regarding the "tax deductibility" of the donation, as a "material benefit" has been obtained (in the form of a statement credit/membership rewards points).
Now it's not there. I wonder why?

Offer Terms

• Excludes purchases of raffle tickets.
• Additional Cards are not eligible for this Offer.
• Valid for payments made by 28/10/2025 to be eligible for Offer.
• Offer is limited to one credit per Card to which the Offer is saved and only spend on this Card counts towards the Offer.
• Excludes transactions where you do not spend directly with your Card to which the Offer is saved, at Red Cross Online at www.redcross.org.au. Offer valid at Australian website only.
• Excludes transactions made through a third party establishment or payment processor.
• Credit is not redeemable for cash or other payment form.
• Credit should appear on your billing statement within 15 business days from qualifying spend but may take up to 90 days from the Offer end date.
• Credit will not be applied to your Card Account if your Card has been suspended or cancelled.
• Credit may be reversed if your qualifying purchase is refunded or cancelled.

Also, for anyone heading to HTI before mid-December:

 

[FlyingKangaroo]

Interesting, the previous iterations of this offer had a line in the terms regarding the "tax deductibility" of the donation, as a "material benefit" has been obtained (in the form of a statement credit/membership rewards points).
Now it's not there. I wonder why?

I've never used one of these so haven't actually paid attention, though presumably there's no meaningful way to track this. The merchant has no idea you have a credit coming from AMEX and AMEX isn't analysing or reporting tax treatment of individual transactions.

Perhaps there's some sort of caveat in tax law that prohibits a deduction where a benefit like this is attained, though if there is, the onus isn't on AMEX or the charitable organisation to tell you that; it's on you to know it. Perhaps "helpful" if AMEX chooses to tell you, but they wouldn't have to, so the omission wouldn't technically mean anything.

 

[prozac]

I've never used one of these so haven't actually paid attention, though presumably there's no meaningful way to track this. The merchant has no idea you have a credit coming from AMEX and AMEX isn't analysing or reporting tax treatment of individual transactions.

Perhaps there's some sort of caveat in tax law that prohibits a deduction where a benefit like this is attained, though if there is, the onus isn't on AMEX or the charitable organisation to tell you that; it's on you to know it. Perhaps "helpful" if AMEX chooses to tell you, but they wouldn't have to, so the omission wouldn't technically mean anything.

You may only claim the actual cost of the donation, that is $70 less $20 credit. So $50 is what you can claim. I am not about to risk an audit for the sake of a small claim like this.

 

[HisHoliness]

Australian Red Cross - $70/$20

Mine is donate $60, get 1200 bonus points, up to 3 times.

Personal plat.

 

[MathNerd]

I've never used one of these so haven't actually paid attention, though presumably there's no meaningful way to track this. The merchant has no idea you have a credit coming from AMEX and AMEX isn't analysing or reporting tax treatment of individual transactions.

Perhaps there's some sort of caveat in tax law that prohibits a deduction where a benefit like this is attained, though if there is, the onus isn't on AMEX or the charitable organisation to tell you that; it's on you to know it. Perhaps "helpful" if AMEX chooses to tell you, but they wouldn't have to, so the omission wouldn't technically mean anything.

I agree - it is always up to the individual involved to know their tax obligations.
However, in saying that, I've used this offer only once (back when it was donate $20 get $20 back).
My mailbox (both physical and electronic) got bombarded after that - should've used fake details.

You may only claim the actual cost of the donation, that is $70 less $20 credit. So $50 is what you can claim. I am not about to risk an audit for the sake of a small claim like this.

Depends on your risk apetite I guess - only Amex (and you) know that there was a statement credit; I doubt any other entity would find out (at least not without violating multiple privacy and finance laws)!

 

[burneracc]

Amazon 60/5