Hi - I'll have a look at this this evening and spell-out my working - btw, I'm using a business tax rate of 27.5%my calculations are not matching with @Bell21
where am I going wrong?!?
payment amount 10000 $ surcharge 1.1 % points per dollar 0.825 points earnt 8250 surcharge paid 110 $ points earnt on surcharge 90.75 cost of 1 point 0.013333 without surcharge points cost of 1 point 0.013188 with surcharge points
If i put CE's values above it matches, so my calculator seems right
payment amount 10000 $ surcharge 1.95 % points per dollar 1.125 points earnt 11250 surcharge paid 195 $ points earnt on surcharge 219.375 cost of 1 point 0.017333 without surcharge points cost of 1 point 0.017002 with surcharge points
Sorry - I omitted to explicitly mention an assumption - I'm pretty sure only did calculations with business expenses in mind (as GST is irrelevant then), as if you can't claim GST / business expenses, then in my book, none of the online payment points options are great value presently (eg, YP is over 1.3 cents / point), so that's why I don't work on raw costs --- EBP used to work for raw costs (personal expenses), but sadly, those 0.8% days are over - as per message to Daft009, I'll spell out calculations this evening, so that YMMV, each can work from their own parameters!I think it best to look at raw costs and disregard GST / Tax implics - some people can claim the GST or both - others neither - some others entire cost - hence raw figures are all ever look at