ATO (tax office) payments by credit card

[DaveB]

This was probably my last BAS where I chased the points with the ever reducing cards and relatively low card limits making it more than a chore though luckily has never been my main points game. Sure went out with a nice bang.

I had been merrily making two CC payments a day based on a draft BAS with some final income yet to be put into the accounts. The BAS was all but paid when received the final Q3 BAS report. With a new Office Manager, checked the detailed report against the summary report and noticed one field out by $100K to the good. The reporting field default size in MYOB's summary report had prevented the extra digit and no one had picked up the $ sign also missing in the field.

Realising it was due to the cloud version which we had switched over to in the Xmas break, went back and checked Q2 which had the same digit field missing so now suddenly $200K to the good. My initial thoughts of feeling like I had won the old $2 lottery quickly turned to fear in how to tell the ATO knowing their forms do not have options named 'Stupidy' or 'Lacking Common Sense'. Probably still under the 'Stupid' heading, I reduced the size of my credit by booking income from Q4 and submitted April's PAYG three weeks early.

Checked ATO this morning and note they had processed the refund yesterday arriving EFT Friday and also giving me a nice three digit interest earned for my carelessness which must be comparable with what banks are offering.

 

[cove]

Don't even start thinking this game is ending DaveB. It took about 6 years for some banks to wake up so I think it can run on.
Getting points/miles for 0.42% when they cost way more than double has been great.

 

[DaveB]

The CC companies are sure making it harder and less than a free lunch when Citi ruled the ATO paywaves. Ah the days when you earned 1.3 points and were able to load the card 300% and process the BAS in under an hour.

Off topic with Citi now taboo with ATO, Citi authorisations yesterday afternoon without warning stopped another payment from being processed despite the transaction leaving 20% of my balance still available. A lot of apologies ensued from Asia and the now often repeated "I will ensure it wont happen again" heard. Since December, what was happening monthly, strangely though never during peak card usage time, has now occurred three times the last three or so weeks.

 

[cove]

I don't call Citi in Australia pretty much since I felt I was threatened. Now I think back and come up with "thanks for millions".
Since they conked out on ATO l have done really well with them so never think I whinge about them seeing I received a bonus transfer to make up for the points they mulched on. All ok in my little frequent flyer land.
Citi US are super helpful.....a delight to deal with actually.
I may have overpaid a tax bill yesterday in my haste to get everything finished before our latest trip. Refunds are ok.....

 

[Bazzi]

Looking for a MC or Visa to pay my ATO bill as my Velocity and ANZ cards are dead for this purpose. Anyone know if Coles Rewards MC pays for ATO payments? Figured 20k points ($10k x 2 points per $1) would convert to 8K Etihad points, $89 fee offset by $100 Coles gift card and lower cc transaction fee with ATO. Any thoughts?

 

[cove]

Don't know so try a small tester Bazzi.

 

[Bazzi]

Don't know so try a small tester Bazzi.

Haven't got the card yet Cove, thinking of applying, can't see anything in the pds to say ATO off limits. The ability to sweep to Etihad is attractive, as is the zero currency conversion fee.
Nothing to lose (apart from a Veda mark) so might give it a go. As you said, could do a small tester and if no points then Amex will be the way to go.

 

[sergeyvzn]

It may have been asked here before but I don't seem to be able to find an answer - if you load $$$ onto your Qantas Cash card and pay an ATO bill with it, do you get 1 point per $ as with normal purchase transactions you do with the card, or not?

 

[Origin]

• Earn 1 Qantas Point for every $1 spent in foreign currency*
• Earn 1 Qantas Point for every $2 spent in Australian dollars*

 

[sergeyvzn]

• Earn 1 Qantas Point for every $1 spent in foreign currency*
• Earn 1 Qantas Point for every $2 spent in Australian dollars*

So it's 0.5 points per $...right! However the transaction fee would be 0.43% rather than 1.45% on my Velocity Platinum AmEX so it kind of still makes sense, right?

 

[cove]

Velocity Platinum Amex at half a point per dollar produces ATO result of 2.9 cents cost per dollar so banish that thought to the rubbish bin. You would do better referring associates to that cc to get ten lots of 20,000 points and they get 80,000 for $349 plus a free side trip.
Just because the Qudos Bank application is difficult you could try that one for a point a dollar with 2 points on Qantas purchases. I have used this card so much it is de-laminating.

 

[Bazzi]

So it's 0.5 points per $...right! However the transaction fee would be 0.43% rather than 1.45% on my Velocity Platinum AmEX so it kind of still makes sense, right?

So this would be reciprocal if using the Velocity Global Wallet?

 

[sergeyvzn]

So this would be reciprocal if using the Velocity Global Wallet?

not sure...Qantas Cash T&Cs are fairly vague, they do not explicitly say "ATO transactions do not earn points" or "government charges do not earn points" but they do mention that only "payments for goods and services" earn points - paying an ATO bill isn't quite paying for services? So my guess is ATO payments probably earn nothing using both Qantas Cash or Velocity Global Wallet but I may be wrong

 

[Bazzi]

not sure...Qantas Cash T&Cs are fairly vague, they do not explicitly say "ATO transactions do not earn points" or "government charges do not earn points" but they do mention that only "payments for goods and services" earn points - paying an ATO bill isn't quite paying for services? So my guess is ATO payments probably earn nothing using both Qantas Cash or Velocity Global Wallet but I may be wrong

Velocity global wallet t&cs equally as vague. Might give them a call and ask.

 

[sergeyvzn]

Velocity global wallet t&cs equally as vague. Might give them a call and ask.

If you do please feel free to share here -)

 

[shifty]

When paying with QCU, what is the max single transaction limit? Not having much luck, after a few small successful transactions it is declining? Process over multiple days?

 

[cove]

Good question shifty....my card allows $10,000 a day pretty much 5 times a week even though I have a $25,000 credit limit. I got used to this and have never chosen to call to find out why.
I just start early and I have lots of other stuff I put on this card. I reload the card during many months.

 

[Scr77]

Good question shifty....my card allows $10,000 a day pretty much 5 times a week even though I have a $25,000 credit limit. I got used to this and have never chosen to call to find out why.
I just start early and I have lots of other stuff I put on this card. I reload the card during many months.

This must be applied on a customer by customer basis - I don't have a 10k transaction limit.

 

[BillytheFIsh]

Velocity global wallet t&cs equally as vague. Might give them a call and ask.

Please don't. Just do a small test and see what happens.

 

[cove]

I know others have a different setting but it really doesn't worry me and I would never ask why. Scr77 I had to rebuild some Kris Miles and I never go over $95,000 a time to avoid a bell ringing in a bank back office. Then on another card I stay under $75,000 a time for the same reason.
I just presume things and try to avoid unnecessary phone calls. I used to get a few as we process a zillion or two on CCs.
In recent times I haven't had any calls.