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I've just received by Citibank Debit Card and was just about to transfer over $2k so that I could take advantage of the 3 month 5% Cashback offer when I looked at the T&Cs (I hadn't bothered with them much as I had only applied for the card for the overseas ATM benefit).
What was not immediately clear on the headline page was:
Only for Paywave transactions under $100
Max $500 cashback
Both not completely unreasonable and I wasn't expecting to be able to get 5% Cashback from Canberra (although the council rates would have been nice) but buried in the T&Cs it says that any cashback should be declared as taxable income to the ATO. That is a significant drawback especially as it is stated explicitly albeit in very small print.
What was not immediately clear on the headline page was:
Only for Paywave transactions under $100
Max $500 cashback
Both not completely unreasonable and I wasn't expecting to be able to get 5% Cashback from Canberra (although the council rates would have been nice) but buried in the T&Cs it says that any cashback should be declared as taxable income to the ATO. That is a significant drawback especially as it is stated explicitly albeit in very small print.
