ATO (tax office) payments by credit card

[Limewood]

saving mine for the 27th of this month.
CC billing finishes on 26th.

Des that mean can no longer use AMEX to pay tax after 27th?, or is that just your cut off date?

 

[KLN]

Des that mean can no longer use AMEX to pay tax after 27th?, or is that just your cut off date?

yes, my cutoff date, for when i get a new statement usually. will do ATO payment on the 28th when due.
after the comments the last couple of days, it will be interesting to see whether i get to use the AMEX CC, or the AMEX Charge card.
will keep you informed.

 

[Limewood]

I've used my ANZ Amex to pay tax, had to bring it back to zero, put the funds into the card just before payment due, paid the tax so no interest was charged as its my money I'm using, but with the charge card this time I'll try that, its auto paid 3 weeks after the tax payment.

 

[albatross710]

yes, my cutoff date, for when i get a new statement usually. will do ATO payment on the 28th when due.
after the comments the last couple of days, it will be interesting to see whether i get to use the AMEX CC, or the AMEX Charge card.
will keep you informed.

By using the ATO Business Portal to lodge we get an extra 14 days for lodgment. The main benefit of this is that we find collections ( cash into our company) improves after the 28th BAS date as many companies are slowing creditor payments in order to meet their own BAS obligation.

 

[KLN]

all done and successful using WBC Altitude AMEX.
all worth the CC Charges and remembered that also had SMSF payment to do also.
80,549 points thank you very much!

 

[cove]

KLN you sounded pretty excited getting those points from taxes.
Where are you thinking about going and in what class?

 

[KLN]

KLN you sounded pretty excited getting those points from taxes.
Where are you thinking about going and in what class?

Syd - KUL - Syd - MH points upgrade to J for the return trip for F1 X 3 pax
KUL - Shanghai - KUL - Y (only 5 hours) F1 also (races are back to back weekends)

worth every penny of the CC fees

 

[cove]

Wow that is true Fiscal Fiend power getting you upgraded like that!

 

[cove]

Hello JS,
It is almost the two year anniversary of your post about the Tax Office and paying on a credit card.
Your post changed our lives so thank you very much for your comment. It puts a smile on my face every time I pay the many tax bills that come in the mail.

 

[KLN]

Hello JS,
It is almost the two year anniversary of your post about the Tax Office and paying on a credit card.
Your post changed our lives so thank you very much for your comment. It puts a smile on my face every time I pay the many tax bills that come in the mail.

Agreed! this post has certainly changed my life!
and sincere thanks again from me too.

 

[FuzzyAUS]

I'll +1 that too, has seen a good increase in the points each month, has also meant all travelling last year domestically was in J thanks to the JASA's too

This site is great

 

[cove]

Mrscove has bookings on JASAs to make WP status in about 4 weeks time which is such a big change from losing Silver and getting Bronzed 11 months ago.
None of that would have been easy to do previously without a big wad of money.
The tax thingy has really changed our travelling style and frequency.

 

[js]

Thanks and glad to have helped by starting off the thread.

It has indeed been (and continues to be) a good little earner. Now I've just got to come up with some ways to keep our profit up so we can keep paying more tax! Amazing how this little incentive makes tax preparation and payments almost bearable.

 

[Bundy Bear]

And to think I paid $15,000 in tax today but didn't use a credit card.

So I missed out on 7,500 points on the visa but I have saved $97.20 in extra charges.

I don't think that 7,500 points is worth the $97.20

My BAS is due on the 21st of the month but the credit card statement end is the 22nd of the month so I don't pick up any good financing terms, as I would still have 3 weeks to pay the bill. If the timing of the credit card statement was better it would be a better deal for me.

But the few times I have needed to pay the tax when I have been short of funds, this thread has been a lifesaver.

 

[serfty]

...

I don't think that 7,500 points is worth the $97.20

My BAS is due on the 21st of the month but the credit card statement end is the 22nd of the month so I don't pick up any good financing terms, as I would still have 3 weeks to pay the bill. If the timing of the credit card statement was better it would be a better deal for me. ...

FWIW, I personally value 7,500 "points" as being worth at least $220.

As for BAS payment; the ATO are somewhat flexible and you can generally pay it some days after the due date as long as the BAS itself is submitted in time.

The other thing to consider is getting an online registration. If you register you get additional time to submit both the BAS and payment; my next BAS is not due until April 28th.

 

[cove]

Gee Bundy Bear if you used a point a dollar Visa or MasterCard that $15k would be 15000 points and Serfty would value them at $450 for a cost of $97.50
If it was your BAS you would reduce the $97.50 by your tax rate!

Anyway we were wondering when FASAs and JASAs started because I really only started in on that fairly recently and Mrscove is about to be Platinum with QF. Often in my excitement to grab a First Class ride I forget and put it thru in Classic points. Old habits die hard for me but the ride is still the same.

 

[Ben174]

Hi Guys,

Have got a Business Master card that gets me 1 QFF per $1 spent. It has a 30k limit.

My next tax bill due is 55k (BAS and PAYG). So am i able to make a 30k payment, then transfer funds to my credit card and then to a 25k payment so i can get the full 55,000 points? Or when paying a tax bill does it have to be 100% in one go?

 

[Flashback]

Hi Guys,

Have got a Business Master card that gets me 1 QFF per $1 spent. It has a 30k limit.

My next tax bill due is 55k (BAS and PAYG). So am i able to make a 30k payment, then transfer funds to my credit card and then to a 25k payment so i can get the full 55,000 points? Or when paying a tax bill does it have to be 100% in one go?

You can do in multiple payments. IIRC there's a limit as to how much you can do in one c/c tx anyway.

 

[cove]

The maximum you can pay is 5 lots of $50000 per phone call so that is a total of $250000 plus the credit card fees. If you owe more you make another phone call or two until the bill is paid.
Westpac for me has been so easy....cash a large cheque into the card on the day the tax is due then go back from the bank to make the phone calls.
Citibank is harder because if you put a cheque deposit in thru Australia Post it takes 6 days for the funds to clear into the credit card limit.
American Express Ultimate won't allow your account to go into credit so I phone the funds thru every 3 days.
You need to have good sized credit limits to pay large tax bills.

 

[js]

The maximum you can pay is 5 lots of $50000 per phone call so that is a total of $250000 plus the credit card fees. If you owe more you make another phone call or two until the bill is paid.

Phone calls to pay bills? How quaint Don't forget you can pay securely online, which I find a lot less hassle: no arbitrary limit of paying 5 lots at a time (though $50,000 per payment still applies); you also get a printable receipt, and you save some cents on the call(s) too.