ATO (tax office) payments by credit card

[daft009]

Beem for under $2k a day

And 10k/month

 

[Scr77]

And 10k/month

Anything stopping you from having multiple accounts To get around this?

 

[daft009]

Anything stopping you from having multiple accounts To get around this?

Could try. They want mobile and email for registration

 

[PLANT]

but you can only make payments and interbank transfers with a debit card.?
Nothing about ATO payment on website?

 

[daft009]

but you can only make payments and interbank transfers with a debit card.?
Nothing about ATO payment on website?

Exactly right!

 

[exceladdict]

Starting to fly a bit close to the sun my friends

 

[lilkid28]

Does this work for SRO VIC? I tried but says biller doesn't accept.

 

[albyd]

The biller still has to accept BPay payments by credit card. Unfortunately, many billers like local councils accept credit cards directly but not through BPay (guessing they can’t apply the surcharge).

 

[k_sheep]

I'm starting the hideous foray into self employment, which means ABNs, BAS, GST, and other horrid TLAs. From my back of the envelope maths, this means I'll be paying $90-100k per year to the ATO. Not knowing a single thing about business type stuff, I'm not sure if that will be quarterly or annually or whatnot.

My accountant (who wants to charge me a very hefty sum ... seems like I could DIY it easily enough with xero or similar but that's a story for another day) suggests getting a dedicated card for business expenses. I currently hold amex (explorer and edge), BOQS, Westpac cards. Which from my reading, only the amex would earn for ATO, at a 1.45% fee so not worth it.

Any suggestions of a new credit card? Either an ATO earning one, or one with a great sign on bonus (since my annual fee will be deductible) which then I can use yakpay or sniip etc for?

 

[albyd]

Sounds like you are on the right track. If your existing ‘fleet’ of cards works for you, then using them with a device like YakPay or Sniiip will allow you to earn points at a cost.

You need to decide what card will earn you your rewards currency of choice. I’m impartial to Amex Explorer from the ones you’ve outlined. Not sure if that is answering what you are after though.

 

[Kimster]

I'm starting the hideous foray into self employment, which means ABNs, BAS, GST, and other horrid TLAs. From my back of the envelope maths, this means I'll be paying $90-100k per year to the ATO. Not knowing a single thing about business type stuff, I'm not sure if that will be quarterly or annually or whatnot.

My accountant (who wants to charge me a very hefty sum ... seems like I could DIY it easily enough with xero or similar but that's a story for another day) suggests getting a dedicated card for business expenses. I currently hold amex (explorer and edge), BOQS, Westpac cards. Which from my reading, only the amex would earn for ATO, at a 1.45% fee so not worth it.

Any suggestions of a new credit card? Either an ATO earning one, or one with a great sign on bonus (since my annual fee will be deductible) which then I can use yakpay or sniip etc for?

I do not think the combination you've got can be any better for $100K year. Personal Amex will get your annual fee back in travel credits and you'll forego that if you opt for a business explorer. BOQ - perfect for velocity at 1:1 (capped at 10,000 per month i think) and if you have the grand fathered Westpac (into krisflyer) - hard to beat this combination.

 

[coriander]

I'm using personal Amex Explorer and St George Amplify for all my business expenses (plus divide up my big bills amongst wife and three sons - they get about 25k points per month in total).. Have done so without issue for years.

I pay ATO with sniip/Amex.
I pay every other non surcharged bill with Amex directly or Visa for non-Amex suppliers.
I use Amplify+Yakpay for EVERYTHING that doesn't take credit card.
Amplify is 0.82KF per $.

J to EU on SQ is 116k.

Thus theoretically 116k would cost a maximum of ~$1750 in AMEX surcharges at 1.5%, but overall average is much much less as many of my suppliers don't have an Amex or Visa surcharge .
Airfare is $7k+ in real money.

Makes sense to me.

YMMV.

 

[k_sheep]

Thank you both, that's super handy.

Tempted to grab the Amplify, they currently have a 150,000 point sign on bonus (which is 75000 SQ or MH miles) with a first year annual fee of $139. Other option as you say is to pay with the explorer, and either 1/ hunt through the statement for relevant spend or 2/ dedicate that card to business only type expenses.

 

[coriander]

Amplify also has 10% birthday bonus - they up your points stash by 10% which would give you 82000 points in your example above.

I go through my statements every month, print them and highlight in orange what's business expense and pay that from business account and the rest from personal account (I guesstimate our businesses are approximately the same size and it doesn't take me very long).

Even if you have a dedicated business-only Amex card you are still going to have to spend time each month going through the statement and allocating your expenses to different categories in the business software of your choice so I don't see that there's anything to be gained with two cards.

 

[Flashback]

Amplify also has 10% birthday bonus - they up your points stash by 10% which would give you 82000 points in your example above.

I go through my statements every month, print them and highlight in orange what's business expense and pay that from business account and the rest from personal account (I guesstimate our businesses are approximately the same size and it doesn't take me very long).

Even if you have a dedicated business-only Amex card you are still going to have to spend time each month going through the statement and allocating your expenses to different categories in the business software of your choice so I don't see that there's anything to be gained with two cards.

Largely comes down to tax deductibility of annual fees then, if you're using a single card for business and personal purchases then you shouldn't be writing off 100% of the annual fee against the business as it's not wholly for business use.

 

[coriander]

You're right, of course. $35+k business, ~$3k personal per month. I don't think ATO will worry about a $20 mis-allocation of a $240 annual fee.

 

[Flashback]

You're right, of course. $35+k business, ~$3k personal per month. I don't think ATO will worry about a $20 mis-allocation of a $240 annual fee.

Given I know someone who was stung on that point when audited it's clearly a case of YMMV. Low risk, sure, but not one I would take.

 

[ramamba]

Amplify also has 10% birthday bonus - they up your points stash by 10% which would give you 82000 points in your example above.

Does the dragon pay the 10% bonus on top of the sign-up bonus? IIRC I only received it on purchases, but not on the bonus.

 

[andye]

Given I know someone who was stung on that point when audited it's clearly a case of YMMV. Low risk, sure, but not one I would take.

I considered putting only business expenses on Charge to offset fee but ended up using supps for offers

 

[Kangol]

Does the dragon pay the 10% bonus on top of the sign-up bonus? IIRC I only received it on purchases, but not on the bonus.

In the past, my experience is the same as yours.
Birthday 10% bonus is on purchases, not on the sign on bonus.