FID and don't forget the well named BAD tax!Government charges means government charges related to the card. Not paying bills to the government.
I can't think of any current government charges. But in the past my savings account used to be charged Financial Institutions Duty every time money was deposited (many years ago). If a similar charge was made on a credit card then it would be a government charge that does not earn points.
Assuming you have the money to pay off your CC when it comes due seems like a cheap way to get points.So I'm looking at paying the rest of my HECS debt off, making use of the extra 5% bonus they give for early payments. Worked out that putting approx $13500 on it will cost around $65 in the surcharge however this I might be able to claim back on tax anyway. 13k points for $65 and getting rid of my HECS debt before 1st June when indexation applies (also trying to get rid of it before it moves to the 10 year treasury bond rate)
More importantly, if you're using your Woollies card to pay ATO bills, ensure that it's for your Personal Income Tax bills, not regular BAS bills. The T&Cs for the card are that it is strictly for Personal transactions, and they do enforce that.Just got this card a month ago and worked perfectly for ATO. But I've been warned to make sure you put lots of other transactions on there too. If it is mostly ATO they might cancel it.
Most annoying thing about this card is that it takes 4-5 days to transfer money into it from my bank account. Why does it take so long??
Well done, you can probably keep moving that money around with balance transfers!So I can confirm that you do receive points for making payments to the ATO on the Woolworths Credit Card.
So I took a balance transfer option from Citibank, put an extra $15k onto the wow CC, made a bulk payment to ATO before the indexation was applied and now have my HECS debt on a 12 month interest free loan and getting the extra 5%.
With my tax returning coming up, since there was a HECS/HELP withholding, I'll get this all back (Around $8k just in HECS/HELP withholding) and some other deductions which would amount to a decent size tax return. So instead of paying my HECS through the compulsory payments, managed to pay it off with a credit card earning just over 13k points and shaved 5% of the total balance owing while also missing out on the 2.6% indexation that was to happen on the 1st June. With the 12 month balance transfer from citibank, should only have around $2000 to pay off over 12 months.