ATO (tax office) payments by credit card

[cove]

The ATO should be very pleased that they now have customers looking forward to receiving tax bills.
Since js posted the thread starter in 2009 it has been a real life changer. I will requalify for QF WP status in less than 3 months and then with SQ you can remain a nobody and fly in J and First at very short notice.
Sure there are other companies and I have Velocity as a backstop for that just in case scenario.
We will see you out there amaroo. I hope to catch up with shintaro10x in June as there is so much to learn and Adelaide is a JASA way from home here in Perth.

 

[cove]

I walked into Medibank Private and paid the premium thru to 31.12.2013 to score the tax rebate for another year and a half. They dont take Amex so I used Citi Select to get 1.33 Kris points per dollar on the Visa. The saving was close to $2700 for the 2 family accounts.
No need to pay a cent extra is the way I think on this recent tax hike or should I say tax rebate cancellation.

 

[Deleted User]

I hope to catch up with shintaro10x in June as there is so much to learn and Adelaide is a JASA way from home here in Perth.

Looking forward to some good tactical discussion over some nice South Australian Fruit Juice...!

 

[diningdecadence]

the boss at work has kindly let me put through some $. Using 2 AMEX's each with a small credit limit - one with Ascent, one with QFF direct earn. Recently increased the limit on one card, but of course that meant the attempt to increase limit on the second card was declined. Interestingly, did a free credit check on myself and didn't see anything from AMEX so may be an internal check.

Next task is to find a nice Visa/Mastercard to reduce the surcharge further. Any suggestions? I'm just shy of the salary requirements for citiselect (and at around $200k of exp's wouldn't make a massive difference in surcharge vs card fee anyway?) Mainly looking for a flexible usage of points but currently international travel is to USA via QF (wouldn't it be great to direct earn to AA!)

cheers
tdog

 

[cove]

Citi Business does the 1.25 points net to QF and last time I checked it was $149 annual fee with a start bonus for their Visa. It is a 250,000 points cap per year.

 

[angusburns]

Most people recommend the WW EDR Mastercard - 1:1 Qantas points uncapped, 16,000 points for signing up + first use.

https://www.everydayrewards.com.au/...DDwNvTz8_L3cjQ3cTfSDU_P0c6McFQE0hnCX/?source=

 

[sumthinfornuthin]

QANTAS WOOLWORTHS CREDIT CARD IS THE BEST....1 point per dollar uncapped - $ 89 per annum............works for me

 

[wafliron]

Most people recommend the WW EDR Mastercard - 1:1 Qantas points uncapped, 16,000 points for signing up + first use.

QANTAS WOOLWORTHS CREDIT CARD IS THE BEST....1 point per dollar uncapped - $ 89 per annum............works for me

I can't figure out why people keep recommending the WOW EDR card over the Citibank CitiBusiness Gold, unless the 250,000/year ($200,000/year) points cap on the CBG is an issue.

For an extra $60/year in annual fee you get a card that earns an additional 0.25 QFF points per $1 spent, lets you warehouse points at the CC level, and gives you flexible redemption options into QF, DJ or SQ.

 

[Stephen65]

I walked into Medibank Private and paid the premium thru to 31.12.2013 to score the tax rebate for another year and a half

This subject came up at a meeting I was at last night. Apparently all the insurers are now offering at least a year's prepayment and some are now offering two - HCF and BUPA were named. Good to hear MP has at least gone to 1.5 years.

 

[angusburns]

I actually have a Citibusiness Gold card and not an WW EDR Mastercard but I don't feel confident recommending it due to the appalling haphazard, slipshod, inconsistent Citibank customer service i have experienced and it does max out at $200k / 250k points annual spend.

I also don't like the Citibank statements that have the minimum payment due in large print and then put that figure in the payment due box - they bury the Closing Balance as the second of six columns in the Account Summary field.

I think that the statement layout is deliberate and is verging on deceptive and a trap for young players so reluctant to recommend them.

This is not a problem for me as I have auto-pay the closing balance in full turned on (after three attempts where each time they said OK but it still did not work and they charged me interest each time as they could not see my request)


If you are prepared to deal with all that, then the Citibusiness Visa and the CitiSelect visa cards are great ways of accumulating lots of points - I have both and they work well, when they work, which is usually.

Current offer is Citibusiness at 1/2 cost in first year (1/2 x $149 = $74.50) v $89 for WW EDR but EDR gives you 16,000 points on first use.

Guess you would have to look at your annual spend to see which one would suit you best over the estimated life of your card.

Hope this helps.

Angus

 

[amaroo]

I walked into Medibank Private and paid the premium thru to 31.12.2013 to score the tax rebate for another year and a half. They dont take Amex so I used Citi Select to get 1.33 Kris points per dollar on the Visa. The saving was close to $2700 for the 2 family accounts.
No need to pay a cent extra is the way I think on this recent tax hike or should I say tax rebate cancellation.

You Sir, are a fountain of good news! May Good Karma flow on you & yours

 

[wafliron]

I actually have a Citibusiness Gold card and not an WW EDR Mastercard but I don't feel confident recommending it due to the appalling haphazard, slipshod, inconsistent Citibank customer service i have experienced and it does max out at $200k / 250k points annual spend.

I know Citibank have a terrible service reputation, but as I've mentioned before in other threads I've always found their service to be OK. You just have to be patient, polite, and speak clearly. Clearly it's a case of YMMV though

 

[Deleted User]

I can't figure out why people keep recommending the WOW EDR card over the Citibank CitiBusiness Gold, unless the 250,000/year ($200,000/year) points cap on the CBG is an issue.

For an extra $60/year in annual fee you get a card that earns an additional 0.25 QFF points per $1 spent, lets you warehouse points at the CC level, and gives you flexible redemption options into QF, DJ or SQ.

As a self employed sole trader, Citi won't touch me, however HSBC / QEDRCC are happy to offer me a 1:1 card with a $30k limit for a $89 annual fee which is waived...!

Works for me...

 

[wafliron]

As a self employed sole trader, Citi won't touch me, however HSBC / QEDRCC are happy to offer me a 1:1 card with a $30k limit for a $89 annual fee which is waived...!

Fair enough if you find you can't get approved - I was more talking about the recommendations.

 

[scheps]

you are quite right, for some reason, i did not even consider the citi card. Any there any specific requirements ? it will be a good one to contribute to tax payments unless they have some funny rule about it, but it is a business card

 

[wafliron]

Any there any specific requirements ?

Just the minimum income requirement as published on their website.

it will be a good one to contribute to tax payments unless they have some funny rule about it, but it is a business card

The T&Cs for all Citi cards disallow business transactions (yes, even the T&Cs for the CitiBusiness card ), however I have never heard of even a single instance of paying business taxes on Citibank card being a problem.

FYI, the T&Cs also say you don't earn points if you're in a credit balance (of more than $10,000?), but they don't enforce that either: I was at >$100k credit balance on my Select card at one point earlier this month and still earned full points on ~$140k or so of business tax payments.

 

[scheps]

NICE!!! but i guess they can always pull something on you as the t and c states otherwise. Fingers crossed this remains the way it is indefinitely

Now just need to wait for bonus points offer to come around

BTW, do you happen to know what conversion rate it is to enrich? (as an alternative)

 

[wafliron]

NICE!!! but i guess they can always pull something on you as the t and c states otherwise. Fingers crossed this remains the way it is indefinitely

It's possible it could change, but if it does you can just re-evaluate your options at this point in time.

BTW, do you happen to know what conversion rate it is to enrich? (as an alternative)

Can't convert from Citi to Enrich. Your options and redemption rates for a CitiBusiness Gold are:

Qantas (CitiBusiness Gold only): 1 CitiReward (CR) point converts to 1 QFF point
Singapore Airlines: 3 CR points converts to 2 KrisFlyer points
Virgin Australia: 3 CR points converts to 2 VA points

 

[burmans]

Just the minimum income requirement as published on their website.



The T&Cs for all Citi cards disallow business transactions (yes, even the T&Cs for the CitiBusiness card ), however I have never heard of even a single instance of paying business taxes on Citibank card being a problem.

FYI, the T&Cs also say you don't earn points if you're in a credit balance (of more than $10,000?), but they don't enforce that either: I was at >$100k credit balance on my Select card at one point earlier this month and still earned full points on ~$140k or so of business tax payments.

I think this has been canvassed before but they don't know WHY you are paying the money to the ATO, they just know that you are paying money. The only distinguishing thing on the transaction payment is the PRN which tells the ATO that it's a business payment but to the card company it's just a number, ATO does not share that info (maning of PRN's) with the card company funnily enough

 

[wafliron]

I think this has been canvassed before but they don't know WHY you are paying the money to the ATO, they just know that you are paying money. The only distinguishing thing on the transaction payment is the PRN which tells the ATO that it's a business payment but to the card company it's just a number, ATO does not share that info (maning of PRN's) with the card company funnily enough

This is true, but if they were interested it wouldn't be hard to datamine people's accounts to find cardholders likely to be paying business tax on their card, and then investigate those people further. e.g., simply compare cardholder's annual income (as disclosed during application process) to total dollar amount of transactions with the tax office in a year - if the amount is more than, e.g., 50% of income, there's probably some business use there.