ATO (tax office) payments by credit card

[KLN]

oh just happened to double pay the BAS on WBC ALT Black, it will be 3 weeks of phone calls to get it back via cheque, bit it will be worth it. 5 figures so i can feel another F1 coming on in March, in J. was worth the surcharge so tax deductible

 

[scheps]

do you get the surcharge refunded? otherwise is it still tax deductible?

 

[Kilo]

Just pushed 100k through the Earth Black before the cutoff (goodbye my old friend)
Then called up to change the card to the Wespac Krisflyer. Gutted to hear they have just removed this card!
Where to now?

 

[WA flyer]

Just pushed 100k through the Earth Black before the cutoff (goodbye my old friend)
They called up to change the card to the Wespac Krisflyer. Gutted to hear they have just removed this card!
Where to now?

So you didn't take the KF option?

 

[Kilo]

Sorry - that should have read 'Then called up to change the card' (I called them, not the other way around)

 

[KLN]

do you get the surcharge refunded? otherwise is it still tax deductible?

no,don't get the surcharge refunded, but i still claim it..........but please refer to your own accounting rules please..........if it's still a business expense, i see it as a deduction still

 

[JohnPhelan]

welcome to AFF cplagz . we use AMEX

But with the Amex Ultimate, isn't it only .5 points per dollar for ATO payments?

 

[cove]

Yes John I no longer use that one.

 

[amaroo]

But with the Amex Ultimate, isn't it only .5 points per dollar for ATO payments?

IME only good for QF x 3, Foreign spend, hotels, restaurants x 2

 

[Ibhayi]

Does any one know when they will be cancelling or transferring over their Singapore Airlines cards?
I received mine a few days ago. Will they let me keep it and at what point will they stop with the points?
I've just put some large expenditure through and have a lot more to come.

 

[somebol]

Is there any other card other than KrisFlyer platinum that earns 1.5 kff per dollar?

 

[deejo77]

no,don't get the surcharge refunded, but i still claim it..........but please refer to your own accounting rules please..........if it's still a business expense, i see it as a deduction still

All Figures Made Up
Interesting - bill of 10k paid as business expense but doing an accounting error and paying 20K constantly and claiming say double surcharge of $500 instead of $250. Is it really a business expense or are you gaining a tax advantage by engaging in a scheme or avoidance with possibly very high penalties..........mmmm each to their own

 

[burmans]

Does any one know when they will be cancelling or transferring over their Singapore Airlines cards?
I received mine a few days ago. Will they let me keep it and at what point will they stop with the points?
I've just put some large expenditure through and have a lot more to come.

I think you are being a bit premature here, I have had cards that lasted for years before they wound down the card after stopping accepting applications and even the fastest took at least a year!

 

[Ibhayi]

I think you are being a bit premature here, I have had cards that lasted for years before they wound down the card after stopping accepting applications and even the fastest took at least a year!

First time I had been in that position. I called Westpac and they said they intend to honour the card for the foreseeable future.

 

[drross]

Hi all. I am new. Today was the first time I have had 5 minutes to swap over my westpac black to the kris black for the specific pupose of ATO payments and I am furious that it has been withdrawn. I guess they had a run on it but I am sure once they realize why they will cut the points earn back on that too.

welcome to the forum jcb. shame about Westpac. good luck with your next new credit card

 

[KitKat]

now that there is a transfer option to KF from Virgin, is there a card that will provide reasonable Virgin points from ATO payments?

 

[knasty]

Nab velocity platinum

 

[VAG newbie]

now that there is a transfer option to KF from Virgin, is there a card that will provide reasonable Virgin points from ATO payments?

Does CBA diamond still earn points on ATO?

 

[Warks]

I have a hefty (for me) tax bill and thought I might stick it on the Velocity Amex. But the fee difference for Amex being more than 3X Visa/MC means it's not really worth it. The value of the points in terms of an airfare is less than the fee.

So I need a MC/Visa that credits to Velocity perhaps.

 

[ninja-tim]

I have a hefty (for me) tax bill and thought I might stick it on the Velocity Amex. But the fee difference for Amex being more than 3X Visa/MC means it's not really worth it. The value of the points in terms of an airfare is less than the fee.

So I need a MC/Visa that credits to Velocity perhaps.

There was a post earlier comparing with a hypothetical ato bill to compare surcharge difference and points gained from both types of cards. It's really dependent on the card's points conversion to miles ratio.

Well, I just did my own calculations based on using Amex Plat card. Please correct me if I'm wrong.

Amex use on ATO bills
$1 = 0.5 MR pts
1.45% surcharge

e.g.: $10,000 bill
= 5000 MR
= $145 surcharge
therefore, 5000 MR = 5000 KF miles (1:1 ratio for amex plat)
--> 34.48 KF miles/$
note: should you consider tax deduction when calculation pts/$ ?

SQ F MEL-LHR flight
= $13,000 for flight this month
= 225250 KF miles (after 15% discount)
--> 17.32 KF miles/$

Based on these figures, am I right to continue using my amex plat to pay off ATO bills, if I had done the calculations correctly with the right conversions?

p.s. My only other card is Citi plat rewards card as I was unable to get the signature so had to get the missus to sign up for it. Don't know about my chances on getting another rewards card if I'm self employed anytime soon.