Status of Cashback on Citibank Debit

Status
Not open for further replies.

andye

Established Member
Joined
Jan 14, 2013
Posts
4,809
Virgin
Platinum
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.
 

Beta4Me

Established Member
Joined
Nov 10, 2012
Posts
1,098
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.
Just don't tell them?
 
Status
Not open for further replies.
Top