ATO (tax office) payments by credit card

[pgsdiver]

I have a snippet that might be of interest.
Did a payment through my Visa with bank (extra text to confuse search engines) Aust last month. QF points just credited today at 1:1.
This wasn't a tester - I wanted to find out about bigger payments - $26K in one hit.
BTW - The application process is onerous with these guys.

 

[cove]

Chase Sapphire US card approved and heading my way.
Have to spend to get the 50,000 Kris Miles within 90 days so all good.

 

[Nizar]

I have a snippet that might be of interest.
Did a payment through my Visa with bank (extra text to confuse search engines) Aust last month. QF points just credited today at 1:1.
This wasn't a tester - I wanted to find out about bigger payments - $26K in one hit.
BTW - The application process is onerous with these guys.

Which card was used ?

 

[tristanium]

Which card was used ?

There is only one card from that supplier which awards reward points - would have to be that one

 

[Awesom Andy]

(extra text to confuse search engines)

Unfortunately, I don't think that works. Most times when I do general searches, if I'm missing some words in the middle of my search terms, (or, in this case, having extra words in the middle of what I would have searched), results would still come up perfectly fine.

 

[pgsdiver]

Unfortunately, I don't think that works. Most times when I do general searches, if I'm missing some words in the middle of my search terms, (or, in this case, having extra words in the middle of what I would have searched), results would still come up perfectly fine.

Yes I know - It was a little in-joke here at my company - one of my techs, who I think believes in fairies and magic dust, insists on doing it. He was in my office while I was posting it so I did it to have a little dig at him.

Car in question, for Nizar, is the QF Visa card.

 

[kody]

Has anyone else noticed the Amex Qantas Discovery card now has government bodies earning points at 0.5 per $, the Velocity card still seems to be 1:1...

 

[cove]

Had an ATO payment to do for a colleague as his Kris Flyer Amex CC was compromised by some hacker and is getting replaced.
I went for Kris Miles to help replace the ones I used to get to the US this week.

 

[cove]

I now have a Chase Sapphire US CC for Kris Flyer Miles. 50,000 Miles is the sign on.
I took up the Citi US CC card issued for Costco to score credits /cash back that is pretty generous (not for ATO points).

 

[sumthinfornuthin]

0.5 pts per $, 0.54℅ fee.

Moving to 1 point per $ 4. At that stage it is just a joke and not worth contemplating.
why do they do this ? surely they make money on the transaction fees ??

 

[amaroo]

Makes sense .... everything else is disappearing.

 

[maccaisking]

Have just discovered this thread and read through the last 100 or so pages. It was depressing to discover this opportunity and then read the reports of each cards ATO rate being enhanced come through, leaving only a couple now. Really wish I had found the thread a year earlier!

My situation is that I am a PAYG taxpayer, but receive a share allocation most years. I typically have a tax bill around $1k-$2k. Last year for the first time, I paid this before submitting my tax using Coles Gift MCs from Father's Day promo and received refund of the extra (was a few hundred in refund) from ATO.

i wondred if any of the PAYGers in the thread have tried overpaying significant amounts ($10k+) to get points and then a cash refund, and if so were there any issues? I also wondered if it is possible to prepay at a post office, using a barcode from previous years payment slip, rather than just online?

Thanks in in advance and congratulations to those who have been successful in this area for so many years!

 

[Gold Member]

i wondred if any of the PAYGers in the thread have tried overpaying significant amounts ($10k+) to get points and then a cash refund, and if so were there any issues?

Many of us here have accidentally added on an extra 0 or two with fat fingers when paying quarterly PAYG. Just before the QF Credit Union card killed us on December 1st, I overpaid almost $200k. Rang the ATO before to ensure all would be Ok and that no red flags would arise and they confirmed all good.

 

[albyd]

If you're going to pay at the post office to avoid the credit card fee, can only pay by EFTPOS which ordinarily doesn't earn points.
There is one EFTPOS GC available from supermarkets for $5.95 best to look out for offers to mitigate that cost (like with the Coles cards you've bought). Can't use it at the counter as staff are trained to knock it back. Might have more luck at self serve terminals.

 

[maccaisking]

Many of us here have accidentally added on an extra 0 or two with fat fingers when paying quarterly PAYG. Just before the QF Credit Union card killed us on December 1st, I overpaid almost $200k. Rang the ATO before to ensure all would be Ok and that no red flags would arise and they confirmed all good.

If you're going to pay at the post office to avoid the credit card fee, can only pay by EFTPOS which ordinarily doesn't earn points.
There is one EFTPOS GC available from supermarkets for $5.95 best to look out for offers to mitigate that cost (like with the Coles cards you've bought). Can't use it at the counter as staff are trained to knock it back. Might have more luck at self serve terminals.

Thank you both. To clarify, I am not paying the ATO on behalf of a business, it is just my and my wife's income tax. I have been known to incorrectly key amounts on occasion, but it probably won't be to the tune of $200k! For the Post Office I just have some $88 cards left to move through, will try at self serve as suggested. The others you mention sound perfect but due to time taken for each card I would rather have the same value cards (if my local ever gets more stock in), load from home and cop the surcharge, 18c / point if I am calculating correctly.

I take it from the answers though that I can take last years payment slip from my NOA to the post office and use it for the money from the $88 cards to reach my ATO account?

 

[andye]

Thank you both. To clarify, I am not paying the ATO on behalf of a business, it is just my and my wife's income tax. I have been known to incorrectly key amounts on occasion, but it probably won't be to the tune of $200k! For the Post Office I just have some $88 cards left to move through, will try at self serve as suggested. The others you mention sound perfect but due to time taken for each card I would rather have the same value cards (if my local ever gets more stock in), load from home and cop the surcharge, 18c / point if I am calculating correctly.

I take it from the answers though that I can take last years payment slip from my NOA to the post office and use it for the money from the $88 cards to reach my ATO account?

Yes the barcode is linked to your PRN which doesn't change

 

[kpc]

Many of us here have accidentally added on an extra 0 or two with fat fingers when paying quarterly PAYG. Just before the QF Credit Union card killed us on December 1st, I overpaid almost $200k. Rang the ATO before to ensure all would be Ok and that no red flags would arise and they confirmed all good.

The one problem with overpaying the ATO is the time taken for the refund which in my case has taken anywhere from 2 weeks to 2 months....if the latter, this can cause major cash flow problems if you overpay by too much

 

[Gold Member]

The one problem with overpaying the ATO is the time taken for the refund which in my case has taken anywhere from 2 weeks to 2 months....if the latter, this can cause major cash flow problems if you overpay by too much

Agreed, my experience has been 3-6 weeks with a couple of chase ups. The worst thing is that even though they make EFT payments for your income refunds, PAYG refunds are sent via snail mail as a cheque. So you need to include the value of time in your cost calculation for QF points. For example, $100K not earning 3% in an online saver for 1 month is $250 before tax. That 0.54% surcharge just became a little higher depending on your circumstances.

 

[cove]

I value funds at closer to 6% rather than 3% by using Big4 bank hybrids that are listed on our stock market.
About to do a tester on a new US credit card. When I spoke to the call center they told me they no longer issue their CCs to folks who do not have a Social Security Number. They stopped 3 years ago. That was not helpful news for my youngest son.

 

[Gold Member]

I value funds at closer to 6% rather than 3% by using Big4 bank hybrids that are listed on our stock market.

Risk v reward. Hybrids are lower on the creditor list hence the higher yield. That said, I don't see the banks collapsing to the point where that issue arises. But as you've highlighted, everyone has their own cost of money and opportunity cost unique to their outlook and circumstances.