ATO (tax office) payments by credit card

[PDog]

Yet most of the rest of the world - particularly the bits of it you'd actually want to live in - has higher taxes than Australia...

People are leaving because the country has been run into the ground by greed, jobs are scarce, and our system panders primarily to rent-seeking (and especially the parasitical FIRE sector - negative gearing and Costello's catastrophic CGT changes mentioned above, petrol on the fire for the property bubble - being prime examples) rather than productive industry.

The success of post-WW2 USA puts paid to any argument "high taxes" inherently impede growth, innovation and entrepreneurialism.

Off topic, but what do you mean by this drsmithy?

 

[drsmithy]

Off topic, but what do you mean by this drsmithy?

FIRE = Finance, Insurance, Real Estate.

 

[PDog]

FIRE = Finance, Insurance, Real Estate.

ah, I thought you were referring to people who were Financailly Independent, Retired Early.

Some pretty broad brush strokes there.

 

[drsmithy]

ah, I thought you were referring to people who were Financailly Independent, Retired Early.

Some pretty broad brush strokes there.

It's not really a medium conducive to anything else.

 

[Cruiser Elite]

OT but if people want to leave Australia I hope the door 'whacks' them on the cough on their way out - good riddance I say.

Jeez I certainly hope these 'smart talented' people leaving Australia then don't have their hands out in any way receiving benefits from Australian coffers. As for drsmithy's doomsday postings I still haven't noticed those housing prices decimated as was that definitive prediction a year or 2 back.

 

[elitebhy]

Is Coles MC still posting points?

 

[cove]

I received 4 family quarterlies today so their computer seems to remember who we are.
So much for hoping they would forget us.

 

[MelbMan]

Made what is probably my last ATO payment using a CBA AMEX with Platinum rewards. Calculated the Apr-Jun 17 BAS amount due and paid this in advance of lodging the return.
After Jul 1 2017 the points on these cards drop to 0.5pt per AUD on ATO payments. With the ATO AMEX surcharge that probably makes using them uneconomic. Disappointing since I got this card for this purpose only in Feb this year.

Going forward not sure where to head. Tried the Coles prepaid MCs earlier this year. But they are a lot of work and a lot cards if you have a $5 to $10k bill to pay

 

[get me outta here]

Paid a mate's and made a slight over payment of $87. What's the latest way they are handling over payments? Cheers

 

[coriander]

Paid a mate's and made a slight over payment of $87. What's the latest way they are handling over payments? Cheers

I completely and totally accidentally overpaid ATO by about 14k back when ANZ Black's points for ATO were about to fade out (end April?). I then accidentally kept paying my monthly activity statement using QF cash card.
However, on completion of this month's Activity Statement, there is a banner saying "As of this date you have a credit balance - no payment is necessary."

 

[cove]

Just received a zero quarterly due late July for a company and I am loving that one.

 

[JohnM]

Just received a zero quarterly due late July for a company and I am loving that one.

Now, how to generate points on that is the question.... If anyone can find a way, cove can...:mrgreen:.

 

[cove]

When I was changing accountants I misunderstood how much was owed so yes I did get almost a seven figure haul of miles when nothing needed to be paid. They refunded me electronically. I won't do that again.

 

[sumthinfornuthin]

mistakenly pay the previous bill.....damn...need to apply for a refund

 

[cove]

I just received two superannuation surcharge bills at $5,250 each. That will be the last of those. I won't miss them.
Meanwhile our Super Fund received a lovely tax refund for much more than that.

 

[Duffa]

I just received two superannuation surcharge bills at $5,250 each. That will be the last of those. I won't miss them.
Meanwhile our Super Fund received a lovely tax refund for much more than that.

But at least what's left of that 35k is now only taxed at 15% !!

 

[SOPOOR]

im just reading this thread as I am a PAYG employee with no business,
would it possible to pay extra tax throughout the year (or just before tax time) with various gift cards, and then when I do my tax return get a huge return?

 

[cove]

On the last day of June I had my car keys ready to get to the ANZ Bank if we were going to be over the Treasurer's new limit. The portfolio moved up and down and finally closed below the not so magic number.
So we are now tax free today on the SMSF by a whisker and no more 30% nor 15% charges.
Living the dream on this one.

 

[cove]

SOPOOR you should get a good tax strategy from a recommended accountant and use that. Without knowing your circumstances it is hard to comment. Here are some ideas that might help you.
I always made sure I was paying as little interest of a non deductible nature like on credit cards and a housing loan where you live in that home. Once there you could consider salary sacrifice into superannuation.
Finally you should drive the lowest costing,safest car that your ego will allow. Cars depreciate quickly.

 

[burmans]

On the last day of June I had my car keys ready to get to the ANZ Bank if we were going to be over the Treasurer's new limit. The portfolio moved up and down and finally closed below the not so magic number.
So we are now tax free today on the SMSF by a whisker and no more 30% nor 15% charges.
Living the dream on this one.

Am presuming that by a whisker you are referring to the $1.6 M limit (or $3.2 for a couple). Frankly I don't really think the 15% tax above that is a huge burden and even then you can alleviate this.