ATO (tax office) payments by credit card

[ComeFlyWithMe]

There are some of us who simply want a small legitimate benefit from the paying of our own taxes.

I completely agree that those who churn and burn, overpay regularly and request refunds, and run up hundreds of thousands of other people's tax expenses on their credit cards are rorting the system and will mean the end for the few cards that are left. At the very least, your credit rating will be shot, but perhaps that's deserved.

It is my opinion that the above activities are the reason why so many cards have been and will continue to be shut down.

 

[wafliron]

There are some of us who simply want a small legitimate benefit from the paying of our own taxes.

I completely agree that those who churn and burn, overpay regularly and request refunds, and run up hundreds of thousands of other people's tax expenses on their credit cards are rorting the system and will mean the end for the few cards that are left. At the very least, your credit rating will be shot, but perhaps that's deserved.

It is my opinion that the above activities are the reason why so many cards have been and will continue to be shut down.

I'm not sure I agree with the term "rorting" (except in the context of deliberate overpayment), but this is essentially the point I was making - that it's the total volume of large ATO payments going through CCs (and the associated cost) that is leading to CC companies shutting it down, not what else those cardholders are or are not doing with their cards.

I don't doubt that if somehow this has been limited to individuals making theirown personal income tax payments only, or something like that, it wouldn't have created the headache it has for CC providers and probably wouldn't have been shut down, card-by-card. But that's an issue that goes far beyond my activities (I refer to my activites here only because this whole conversation started due to a personal attack launched in my direction) - it's one that includes anyone putting large volumes of tax payments through CCs. And it also requires thinking through what is truly "fair" here (playing by the rules as set, vs limiting use compared to what may be possible in the interest of keeping things below the radar and spreading the "wealth" around) - but that's a whole different conversation.

I'm not sure I take your point re credit ratings though - I can't see how paying large amounts of tax through CCs is going to affect one's credit rating (assuming the CC bills are paid on time)? Unless you're referring to someone who signs up for lots of different CCs in a short space of time?

 

[Mark3000]

I refer to my activites here only because this whole conversation started due to a personal attack launched in my direction

To be fair, they were certainly not meant to be "personal" attacks, rather a criticism of the "behaviour"
You are clearly an intelligent person, and I'm sure we would have a lot in common and could have good conversation on many topics. But I, and many others on this forum, do feel that your behaviour is at the extremes, or outside the realm of what is reasonable

Someone also pointed out to me that you had mentioned in one of your previous posts:

I've done it before - as have plenty of others - without issue (beyond phone calls to check everything was legit).

Doesn't this tell you that if your behaviour is so unusual that the bank telephones you, that you are certainly bringing attention to yourself and to the matter of points for ATO spend.

 

[diningdecadence]

At the very least, your credit rating will be shot.

i'm interested to hear why making large credit card payments affects one's credit rating?

 

[bismarck]

i'm interested to hear why making large credit card payments affects one's credit rating?

The cycling of cards does, not the payments themselves.

 

[Colrad]

Has anyone had QF points posted after 1 May for an ATO payment made before 1 May with a NAB Qantas Premium (platinum) card?

 

[prozac]

No, but it appears to be a Qantas IT issue. Not even flights are posting points. I called NAB to be told my points have registered (incl ATO) but not transferred. Operator mentioned that the operator next to her was also discussing same issue with another customer...was that you?

 

[Colrad]

No, but it appears to be a Qantas IT issue. Not even flights are posting points. I called NAB to be told my points have registered (incl ATO) but not transferred. Operator mentioned that the operator next to her was also discussing same issue with another customer...was that you?

Hi Prozac,

'Twas not I, but thanks for the heads up. I haven't called NAB since paying my latest ATO bill on 24 April but was assured before doing so that points would still be earned and awarded for any payments made before 1 May. My NAB points normally post on the 9th of each month (which this month was a Saturday), so I expected I would see them yesterday or today at the latest.

Thanks again.

 

[Scr77]

My NAB points posted promptly on 30/4 including ATO.

 

[prozac]

My NAB points posted promptly on 30/4 including ATO.

Your billing period is well advanced of mine and Qantas IT didn't start buggering-up everything (flights included) until last 10-14 days when complaints have been flowing like cheap bubbly.

 

[Colrad]

Your billing period is well advanced of mine and Qantas IT didn't start buggering-up everything (flights included) until last 10-14 days when complaints have been flowing like cheap bubbly.

My HSBC Qantas points posted on 8 May, as usual, as did some OnePath points - hence my concern at the NAB no show - which I now hope is only a temporary glitch

 

[Colrad]

Quick update: My NAB points (50,000+ including ATO) have just landed in my Qantas account. Woo-hoo! and boo-hoo!

It was good while it lasted.

 

[cove]

Have been in holiday mode and now have an ATO bill to pay on 21st May. The card choices are still there so I need to pick the CCs that suit our family needs. I think I will leave most of it for next week.

 

[gogo419]

What cards are still crediting? Parents need to pay tomorrow.

Cards we have.
ANZ Black
Nab Premium
HSBC Platinum
Citibank Platinum
Bankwest Platinum
djs amex


thanks gogo

 

[cove]

ANZ Black Amex, HSBC Platinum and BankWest platinum (capped at 200,000) are the ones our family has used in recent months out of your list.
Be aware that things may have changed while I have been travelling so your mileage may vary.

 

[prozac]

Quick update: My NAB points (50,000+ including ATO) have just landed in my Qantas account. Woo-hoo! and boo-hoo!

It was good while it lasted.

My NAB points posted yesterday. Yes, nice whilst it lasted but now time to move on.

 

[DTM1]

ANZ Black still pays (both Visa and Amex)
WBC Black Amex also does.

Can't comment on the others.

On my analysis, WBC black Amex earns more FF points than the other cards (except for those still holding the no-longer issued WBC KrisFlyer card), although ANZ black Visa earns (fewer points) at a far cheaper rate. The key is whetehr you want more ponts or better value per point.

cheers

What cards are still crediting? Parents need to pay tomorrow.

Cards we have.
ANZ Black
Nab Premium
HSBC Platinum
Citibank Platinum
Bankwest Platinum
djs amex


thanks gogo

 

[burmans]

The key is whetehr you want more ponts or better value per point.

Actually a combination, of course I want more points but only at the right value, generally I am adverse to "buying" points at more than a cent per point. So in choosing whether whether I use a Visa or an Amex its not the earning rate of each I compare but the delta.

E.g. as an example
10K ATO on a Visa card may give me 7.5K points at a cost of $42
10K ATO on an Amex may give me 15K points at a cost of $145

So base case is I know I can get 7.5K points for $42 which is a no-brainer ($.0056 per point). But for me the relevance is whether I then use the Amex over the Visa and get and extra 7.5K points for an additional cost of $103. The effective cost per point for these additional points is $.0137 per point which in fact I would possibly not be prepared to pay except for the fact for me its tax deductable which reduces well under a cent per point.

Of course this calc depends on your own individual circumstance (i.e. what your earn rates are, which points you are geting, e.g. SQ or QF, and tax deductability).

But my main point is for me is the evaluation criteria is "more points at the right price" not just more points or value individually.

 

[deka2]

I agree Burmans

My main card at the moment is the ANZ Black and my calculation is as follows

$10,000 ATO Payments
Amex = 30,000 ANZ Rewards = 10,000 SQ Points costing $145
Visa = 20,000 ANZ Rewards = 6,666 SQ Points costing $42

For me its a matter of balancing points against cost

Looking at it another way to earn 10,000 SQ points costs $145 using Amex ($10,000 spend) or on Visa $63 ($15,000 spend)

 

[Dr Ev]

For those lucky enough to have them, who would have thought our Westpac Krisflyer platinum cards would end up being the star ATO points cards? (For SQ points at least).
Although these days our points are pretty poor compared to the deals in the USA from the same card companies.