ATO (tax office) payments by credit card

[ChrisFlyer]

Where did you hear this Chrisflyer?

A good friend of mine who has the card apparently received written notice from G&C (didn't ask whether it was a statement note or a separate letter) - said no more points on ATO from June 18 2017. They told me this week so imagine the card's T&Cs allow for one month's notice.

 

[bigray73]

A good friend of mine who has the card apparently received written notice from G&C (didn't ask whether it was a statement note or a separate letter) - said no more points on ATO from June 18 2017. They told me this week so imagine the card's T&Cs allow for one month's notice.

Thanks Chrisflyer.

Do you know if there is a Bpay code to pay the G&C card so I can pay my credit card bill from another bank?

 

[ChrisFlyer]

Thanks Chrisflyer.

Do you know if there is a Bpay code to pay the G&C card so I can pay my credit card bill from another bank?

I'm sure there would be which you could find on your statement or by searching for billers on the BPAY website.

 

[bigray73]

Not on the statement

 

[JohnK]

Yes you can, but you can't claim the credit card fee as a deductible (but don't take the internet's word for it, talk to your accountant).

My accountant claims the credit card surcharge in my tax return.

 

[cambriamarsh]

My accountant claims the credit card surcharge in my tax return.

You're in business as a contractor aren't you JK?

 

[cove]

Someone thought that they couldn't read this whole thread. Clearly needs a class in speed reading is what I was thinking.
I guess the folks who traded in the Platinum Kris Flyer Amex for a sign on bonus elsewhere might regret that move.

 

[mandja]

Someone thought that they couldn't read this whole thread. Clearly needs a class in speed reading is what I was thinking.
I guess the folks who traded in the Platinum Kris Flyer Amex for a sign on bonus elsewhere might regret that move.

Hehe - that was going to be me at one stage. Thankfully I didn't trade.
PLUS
Just this arvo opened Friday's mail to see my sparkling new Platinum Kris Flyer Amex cards have arrived and valid to Jun 2021

 

[Isochronous]

Am hearing that the G&C Mutual Qantas Visa (1/$1) will stop paying points on ATO from mid-June...

Wonder if Bank Australia will follow suit.

 

[pauly7]

Wonder if Bank Australia will follow suit.

Must have missed a beat in the 5 million pages here! Bank AU pays on ATO?

 

[pgsdiver]

Yes Bank AU is good for now. Last few months have been consistently paying, but suggest caution because the Ts and Cs state no business purchases. Largest one processed by me is about $25K.
Rgds

 

[JohnK]

You're in business as a contractor aren't you JK?

No. PAYG employee.

 

[cambriamarsh]

No. PAYG employee.

Oh ok, in NZ you couldn't claim that cost. But I suppose Au is different.

 

[aspro2]

As far as I can tell, the Bank of Melbourne Amplify Platinum is still earning points on ATO payments.

Update to my comment a few weeks back: This card is still earning points on ATO payments (May statement has arrived).

 

[lovetravellingoz]

No. PAYG employee.

Well in that case I am quite surprised by your accountant's advice and would suspect that they are incorrect.
http://law.ato.gov.au/atolaw/view.htm?docid="AID/AID2010160/00001"

 

[serfty]

Well in that case I am quite surprised by your accountant's advice and would suspect that they are incorrect.
ATO ID 2010/160 - Deductibility of card payment fee incurred in paying income tax liability under section 25-5 of the ITAA 1997

There has been a lot of advice given in relation to financial matters - you can lead a horse to water, but you can't make it drink (on accountant advice).

 

[cove]

Don't ever think any of my posts are financial advice. I pay what I am required to pay to the ATO and while I would rather see lower personal tax rates you have to live with what the Government of the day wants from you.
We decided to go from being the great acquirers of assets to being prepared to sell and pay some capital gains tax.
Life isn't a dress rehearsal.

 

[JohnK]

Well in that case I am quite surprised by your accountant's advice and would suspect that they are incorrect

My accountant claims all bank charges. I suspect it's related to investment properties. I will mention it to him next tax return.

 

[lovetravellingoz]

My accountant claims all bank charges. I suspect it's related to investment properties. I will mention it to him next tax return.

So you are comfortable with your accountant claiming expenses relating to your salary against entirely unrelated investments?

Good luck if audited.

 

[JohnK]

So you are comfortable with your accountant claiming expenses relating to your salary against entirely unrelated investments?

Good luck if audited.

Too late now. Should I go and inform the ATO to review my tax returns?

P.S. The investments are related. That's why I'm paying extra tax. And the bill for extra tax comes to my ABN account. I don't think the ATO will bother trying to recover ~40% of ~$150/year. Not worth the time spent.