ATO (tax office) payments by credit card

[cove]

Penegal we use the "Waiting for Godot" in our office quite a bit.
Incredibly no one talks about the 49% tax rate on personal income at the highest level and talk cough about lowering company taxes.
It is almost 7 years ago that js changed our lives.

 

[Doctore1003]

God forbid those of us who actually pay tax to this country.

I am still waiting to see what "services" the government is providing for their massive taxation income... I fear I may be waiting for Godot.

You don't use the health system, schools or roads, and think that defence, aged care and disability insurance are bad ideas?

 

[penegal]

You don't use the health system, schools or roads, and think that defence, aged care and disability insurance are bad ideas?

The comment was in jest.

I don't think any government services are a bad idea, just hopelessly executed.

 

[JohnM]

I'd really like to post about a card that still earns 1:1 on ATO on a Visa/MC but due to what I can only equate to greed, potential fraud and at best money laundering by those who have abused the overpay/refund trick causing almost all cards to be shut down, I shall keep it to myself.

Me too.....

 

[terry88]

Me too.....

Sorry to agree here, in the past their used to be lots of credit cards to choose from, I mean the good 1:1 but slowly declining

 

[downtheback]

I'd really like to post about a card that still earns 1:1 on ATO on a Visa/MC but due to what I can only equate to greed, potential fraud and at best money laundering by those who have abused the overpay/refund trick causing almost all cards to be shut down, I shall keep it to myself.

I can think of a couple, but they mostly earn to QF only which imho makes them not as valuable as cards which can also be used with VA, SQ and CX.

You don't use the health system, schools or roads, and think that defence, aged care and disability insurance are bad ideas?

Health, Schools and Roads are state not federal government, so effectively they are only paid through the GST, not income and company tax

 

[Doctore1003]

Health, Schools and Roads are state not federal government, so effectively they are only paid through the GST, not income and company tax

Not true - income tax pays for large chunks of all these things, eg. the entire primary health care/medicare system. If you're interested in a breakdown of where your tax dollars go, check out Federal budget 2015: Interactive calculator - where your tax dollars go

 

[cove]

The Federal Budget is a pretty scary document as we have too many drawing benefits and too few making net contributions to leave us billions short of break even.
This month I am thinking ANZ CCs but I must not leave it too late this month.

 

[Awesom Andy]

The Federal Budget is a pretty scary document as we have too many drawing benefits and too few making net contributions to leave us billions short of break even.

It's been like that for some time now. If we want to receive the same level of benefits, then taxes need to be increased substantially. If we don't raise taxes, then the benefits would have to go.

 

[cove]

It is time to get more folks off the public purse. Cutting back expenditure and getting people to earn their own money worked 10 years ago.
Catching the big company tax dodgers should be easy.
I heard Uber was sending 25% of each fare to a tax haven. I would garnishee their communication system until the ATO had 30% of that money.

 

[Kangol]

It is time to get more folks off the public purse. Cutting back expenditure and getting people to earn their own money worked 10 years ago.
Catching the big company tax dodgers should be easy.
I heard Uber was sending 25% of each fare to a tax haven. I would garnishee their communication system until the ATO had 30% of that money.

But all of those large companies who are shifting profits offshore are doing so legally - yes or no?
What would you suggest, change the laws to discourage any non-Australian company to do business in Australia? (this is said simplistically, of course)

 

[andye]

But all of those large companies who are shifting profits offshore are doing so legally - yes or no?
What would you suggest, change the laws to discourage any non-Australian company to do business in Australia? (this is said simplistically, of course)

I can't imagine Apple withdrawing from Australia just because it had to pay more tax. I also couldn't see them increasing their prices as a result; the retail price is clearly determined by what the market will bear rather than a profit-margin over cost

 

[cove]

Transfer pricing rules seem to be too fluid so profits get made outside of Australia. So if a business sells $1 million cost of goods to say Singapore for $1.1 million and then Singapore sells those goods for $2.1 million guess where the taxable income lands? Yes $100,000 in Australia and $1,000,000 in Singapore.
I thought about starting to pay the ATO a chunk and instead I am watching the Good Wife in California.

 

[burmans]

But all of those large companies who are shifting profits offshore are doing so legally - yes or no?

I'm no tax lawyer but we do have laws about profit shifting, so am not sure this is a yes or no answer. It may be "legal" as to what these companies are doing but it's certainly not in the spirit of the law, and I'm not even sure of the first given it involves multinational jurisdictions and laws which don't force companies to disclose the information on which we could form such an opinion.

In addition, I think its the wrong question, the question is whether it should be legal. We change laws all the time, this is one we should be.

 

[Cruiser Elite]

Any knowledge of which card might earn pts on Bpay for SuperStream?

 

[infinity]

Any knowledge of which card might earn pts on Bpay for SuperStream?

ANZ Black still earns for Bpay and I think some NAB cards do as well

Have an old NAB QF platinum which I will test soon

 

[lovetravellingoz]

In addition, I think its the wrong question, the question is whether it should be legal. We change laws all the time, this is one we should be.

Exactly just as some countries set themselves up as "tax havens" where they unfairly grab taxes actually earnt in another country, Australia shuld have no qualms in establishing whatever legislation and laws is required that whatever is earnt in Austrlia by foreign entities actually pays a fair and reasonable tax here.

Apple etc will still operate here as they want the business. If they can get out of legally paying taxes, or minimising them they will. So the government needs to have the rules in place to prevent the current rorting that is occuring on a massive scale by househild name companies.

 

[turnip666]

Exactly just as some countries set themselves up as "tax havens" where they unfairly grab taxes actually earnt in another country, Australia shuld have no qualms in establishing whatever legislation and laws is required that whatever is earnt in Austrlia by foreign entities actually pays a fair and reasonable tax here.

Apple etc will still operate here as they want the business. If they can get out of legally paying taxes, or minimising them they will. So the government needs to have the rules in place to prevent the current rorting that is occuring on a massive scale by househild name companies.

Why not set Australia up as a "Tax Haven" and have companies earn their profits here?

Every Australian wins. Extra tax revenue, incentive to save and invest, no need to "offshore" profits.

 

[jamesD]

Why not set Australia up as a "Tax Haven" and have companies earn their profits here?

Every Australian wins. Extra tax revenue, incentive to save and invest, no need to "offshore" profits.

And this would also avoid companies from increasing prices in Aust due to the higher tax burden.

 

[burmans]

Why not set Australia up as a "Tax Haven" and have companies earn their profits here?.

Well I guess that depends on your definition, Tax Haven generally means a country where companies pay little or low tax. Sounds to me like we are already a Tax Haven for many of the multi-nationals.