ATO (tax office) payments by credit card

[Jacques Vert]

Can someone help me with the Maths here with the Only1 card.

It seems that I can get this from Aus Post for $500 denomination for $5.95. So, if I use a Visa (1:1) on the ANZ Black upto $7500. I will get 505 QFF points. I don't think Aus Post takes Amex. I think my Westpac Black Amex is 1.25 pts per $.

Then I pay off approximately $499.25 of my tax bill (.15% card fee). So, the overall cost of the payment is $6.70 for 505 QFF points. That comes to 1.3c per point, which sounds expensive.

Prior to June 30, I was using the Westpac Black Mastercard to get 0.625 QFF Points. At 0.54%, a $500 payment would get me 312 pts at a cost of $2.7. This comes to 0.86 c/pt; which was under by aim of 1c / pt.

Is my Maths right? So, without the Amex credit; this does not seem like a good way of paying my tax bill.

A lot of extra stuffing around for $100 max card value at the supermarket but the Amex edge 3x point earn might make it worthwhile.

Yes it involves a bit of extra work but many consider it worthwhile.

The maths work if you if you buy the right way. Refer to the Woolworths Gift Card Thread or I can send you a PM if you are still trying to figure it out.

JV

 

[albyd]

I've been thinking about using the Velocity Global Wallet card for some upcoming payments. Whilst the earn rate is pedestrian, the new Visa debit surcharge means that these would be very cost effective points with the flexibility of either redeeming with VA or SQ via the points transfer feature.
Has anyone had any experience with Velocity Global Wallet card for ATO and have you received full points?
I've got plenty of points for my current needs so prepared to forgo higher points haul from other methods for simplicity and cost this method potentially represents rather than forgoing points earn altogether.

 

[Jacques Vert]

I was reading through the T & Cs for my DJ Amex and couldn't see any mention of the ATO.

Does anyone have any recent experience using this card?

 

[albyd]

I don't have this card but would be interested in the result. Doesn't seem to outline the exception for government spend which is the usual for virtually all other Amex cards. Wonder if it might get linked to MR Ascent like many have experienced with Explorer so you earn 'real' MR rather than DJS MR points.

 

[Scr77]

I've been thinking about using the Velocity Global Wallet card for some upcoming payments. Whilst the earn rate is pedestrian, the new Visa debit surcharge means that these would be very cost effective points with the flexibility of either redeeming with VA or SQ via the points transfer feature.
Has anyone had any experience with Velocity Global Wallet card for ATO and have you received full points?
I've got plenty of points for my current needs so prepared to forgo higher points haul from other methods for simplicity and cost this method potentially represents rather than forgoing points earn altogether.

I don't have this card, but user comments on the pointhacks website suggests that points are no longer forthcoming.

 

[MrHyde]

Does the Westpac Altitude Black still get points on the Mastercard. I know I still got points when I paid my ATO bill prior to 30 June and the notice I got said that points are no longer available on the Amex; but no mention of the Mastercard.

I'm willing to try a small amount and see; but I don't know how to tell from my statement if I got the points or not - in between all my other expenses on that card.

 

[albyd]

Previous devaluation, Westpac removed ATO points from the MC and halved points earn. Looks like no ATO on either card now for Westpac Black.

 

[albyd]

I don't have this card, but user comments on the pointhacks website suggests that points are no longer forthcoming.

Thanks for the intel. I'll shelve that idea. Points haul I was looking at was going to be small indeed. Might just have to bite the bullet (and the cost) and go RewardPay this time.

 

[MrHyde]

Previous devaluation, Westpac removed ATO points from the MC and halved points earn. Looks like no ATO on either card now for Westpac Black.

This is the part that confuses me. Till as recent as 29th June, I have received ATO points from the MC at the rate of 0.625 points per $. When was the previous devaluation?

 

[mbeder]

....and go RewardPay this time.

Any pros & cons with this option? Have only recently heard of it, but as an SME owner it looks like a good option.

 

[albyd]

This is the part that confuses me. Till as recent as 29th June, I have received ATO points from the MC at the rate of 0.625 points per $. When was the previous devaluation?

This change happened a long time ago. November 2014 according to this AusBt article I found:
https://www.ausbt.com.au/westpac-slashes-credit-card-frequent-flyer-points-on-ato-payments
Sounds like you've had a very good result if still been getting points on the MC.

 

[albyd]

Any pros & cons with this option? Have only recently heard of it, but as an SME owner it looks like a good option.

The main pro for me is that it's a lot easier to make one payment (or 2 if it exceeds my credit limit) as opposed to multiple payments now. So time saved is potentially huge.
The downside is the cost. 2.6% inc GST is quite steep. If your accountant says you can get a tax deduction for the cost, that will reduce it. Further If you have an Amex that earns >1 ppd, then your average cost will be quite reasonable.
I was planning to use my Explorer linked to Ascent for 2 ppd for 1.3c per point cost. I can't get a tax deduction for the cost or it would be quite reasonable.

 

[imipenam]

The main pro for me is that it's a lot easier to make one payment (or 2 if it exceeds my credit limit) as opposed to multiple payments now. So time saved is potentially huge.
The downside is the cost. 2.6% inc GST is quite steep. If your accountant says you can get a tax deduction for the cost, that will reduce it. Further If you have an Amex that earns >1 ppd, then your average cost will be quite reasonable.
I was planning to use my Explorer linked to Ascent for 2 ppd for 1.3c per point cost. I can't get a tax deduction for the cost or it would be quite reasonable.

I think you only get 0.5 ppd for ATO with explorer

 

[mbeder]

The main pro for me is that it's a lot easier to make one payment (or 2 if it exceeds my credit limit) as opposed to multiple payments now. So time saved is potentially huge.
The downside is the cost. 2.6% inc GST is quite steep. If your accountant says you can get a tax deduction for the cost, that will reduce it. Further If you have an Amex that earns >1 ppd, then your average cost will be quite reasonable.
I was planning to use my Explorer linked to Ascent for 2 ppd for 1.3c per point cost. I can't get a tax deduction for the cost or it would be quite reasonable.

Thanks, I'll look into it - in particular the tax-deductibility aspect which could make or break it for me.

 

[cove]

Mrscove has just received renewal credit cards for Kris Flyer Amex and Visa so I am delighted. Just so glad we didn't churn that one.

 

[albyd]

I think you only get 0.5 ppd for ATO with explorer

That's correct for using Amex directly on ATO site. Get full points with RewardPay.

 

[imipenam]

That's correct for using Amex directly on ATO site. Get full points with RewardPay.

Ahh thanks. Look's like Cove's Kris Flyer card is the best option still. Following that, the "Western" variety MC earns the cheapest QF points based on the new ATO CC charges

 

[albyd]

I canned my Western Facility last week as part of my post July annual fee savings mission. That's very interesting about that one, might need to 'change' my mind and re-activate it.
Did a tester payment from Coles MC today may use that one until they can ATO payments.

 

[hoby]

Hi everybody.

I'm just trying to sift through the last billion postings on this and am a bit confused.

I've figured out that the Westpac Altitude Black Amex is useless for collecting points for ATO payments after 1 JUL.

Does the AMEX Platinum Card still earn points for ATO payments? I've got one of those and was considering switching over to it.

Is there a better card for collecting points for ATO payments or is the heyday for scooping up points for ATO payments gone? I don't make a huge amount of ATO payments any more and am wondering if it's worth the hassle.

Thanks for your help-

hoby

 

[downtheback]

If you like paying your tax off in $100 instalments and cpm of 0.25 paying tax then I can shoot you a pm.