ATO (tax office) payments by credit card

[jbman]

So is Sniip now the cheapest way to pay ATO with AMEX & VISA to meet spending requirements? Any better/free methods like before?

Trying to meet my spending critera...

I asked the same question few weeks back as I didn’t have a business expense to offset the fees with.

I used Sniip last week and it worked well, took 1 day to get my account validated and only 3 days for the ATO payment to show up.

 

[Franko Costa]

Sniip is just so expensive though

 

[prozac]

Yakpay have just introduced a neat way to boost the bonus points you can earn to your Qantas of Velocity account called the Rewards Accelerator. Mere mortals can boost the points earned by leveraging the earning potential of your card by paying a little more in the card fee. For example, a business class flight to London is typically $10,000 or 144,600 points. You can now earn 150,000 points for only $3,300 when paying $15,000 via the Rewards Accelerator on the Diamond tier - a saving of nearly $6,700.

I have started a new thread too discuss the Rewards Accelerator here - Yakpay Rewards Accelerator

Here's how it works.
The Rewards Accelerator offers you a range of selectable tiers, each with its own unique earn rate.

Tiers and Earn Rates:​

Rewards Accelerator Tier	Qantas Points Earned	Bonus Point Fee (ex GST)
Standard (Card Payments)	1 point for every $10	0%
Bronze (Card Payments) or Standard (Bank Transfer)	1 point for every $4	0.5%
Silver	1 point for every $2	1%
Gold	1 point for every $1	2%
Platinum	2 points for every $1	4%
Tungsten	4 points for every $1	8%
Black	8 points for every $1	16%
Diamond	10 points for every $1	20%

In short, this new feature would enable you to select exactly how many bonus Qantas (or Velocity) points that you want to earn on top of the full points from your Mastercard, Visa or Amex and the standard 1 bonus Qantas per $10 spent (for card payments) on every transaction. So if you opted in for the Accelerator on your transaction you would be getting 3 hits of points (Full Card, Standard Bonus and Rewards Accelerator Bonus).

Here is a link to the Yakpay support page - What is the Rewards Accelerator?

Interested to hear thoughts on how you think this stacks up to other Qantas points earning schemes like buying wine.

 

[Duffa]

I have started a new thread too discuss the Rewards Accelerator here - Yakpay Rewards Accelerator

Sounds interesting.
Though,
Sarah paid $3,300 for a one way to London on points, IF SHE CAN EVER find availability on Qantas.
That is $6,600 return.
I have seen multiple flights to Europe on Oman Air for way less than 6.6k
Oman Air punches the socks off the Kangaroo in soft product and matches the hard product IMHO.

Of course, if the $3,300 was a business expense, I could deduct it.
I wonder how Johnny Taxman would view me asking to deduct a 20% credit card fee?
Mind you - credit card interest is mostly around the 20% mark, so it might fly?

Just my thoughts...

Anyone else have an opinion?

 

[MARTINE]

I always claim the credit card fee on any business expense as a deduction (as well as the expense of course).

 

[afpaff]

I always claim the credit card fee on any business expense as a deduction (as well as the expense of course).

Does that work for sole traders with ABN?

 

[prozac]

Does that work for sole traders with ABN?

Yes. You need to be registered for GST in order to claim the GST component of the card fee.

 

[daft009]

I don't see the value in paying such a high surcharge personally.

 

[MARTINE]

Does that work for sole traders with ABN?

Y

 

[cathalm8]

Have anyone tried Mobile Pay eGift Card to pay to ATO.
VABF is paying 2.5 points per $ on the purchase of this gift card, so was thinking to use it for the next BAS payment.

Please let me know if there is any other better offer as well.

Cheers

Can anyone use this to pay a tax bill or is it for business' only? Do you simply purchase the pre-paid card and use it to pay ATO directly? thanks

 

[wohoo]

Can anyone use this to pay a tax bill or is it for business' only? Do you simply purchase the pre-paid card and use it to pay ATO directly? thanks

I have used it to pay ATO, although, I can't seem to get the extra bonus virgin point credited to my virgin business flyer account. Not sure why.

 

[cathalm8]

I have used it to pay ATO, although, I can't seem to get the extra bonus virgin point credited to my virgin business flyer account. Not sure why.

That's a bit worrying. How do they even know if you have a VBFY account? Do you need to signup to the giftz.com.au and then link it with your VBFY account? thanks

Edit: I found this in T&C's, see blue highlight, i think this rules the 'mobile pay' Mastercard out of receiving the points?

 

[anyonebutqantas]

I've found PaymentLogic to be useful also.

 

[albyd]

Thanks for sharing this method. Just checking - is there a credit card merchant fee to buy these GCs as well as the issue fee of $5.95? I don't have an account so just wanted to ask before I sign up.

 

[prozac]

I've found PaymentLogic to be useful also.

Payment Logic and sister site YakPay are excellent for low card fee and bonus Qantas points too. Rewards Accelerator gives additional Qantas points for a slightly higher fee which could be charge against tax.
Current 15% bonus being offered;

To celebrate the successful launch of the Rewards Accelerator we are giving you the gift of extra Qantas points this holiday season!

Simply make payments using the Rewards Accelerator with a tier of Gold or higher in both December 2023 and January 2024 to automatically receive a festive boost of 15% additional Qantas points from the Rewards Accelerator on these transactions, ending 31 January 2024.*

 

[wohoo]

That's a bit worrying. How do they even know if you have a VBFY account? Do you need to signup to the giftz.com.au and then link it with your VBFY account? thanks

Edit: I found this in T&C's, see blue highlight, i think this rules the 'mobile pay' Mastercard out of receiving the points?

View attachment 356230

Ah, fancy that, no wonder there's no points awarded. Still, this is a good option if coles mastercard card fee is slapped back on their website.

 

[cathalm8]

Ah, fancy that, no wonder there's no points awarded. Still, this is a good option if coles mastercard card fee is slapped back on their website.

What is the coles MasterCard method?

 

[wohoo]

What is the coles MasterCard method?

https://www.giftcards.com.au/ShoppingCart/ProductDetail/CG_card_Mastercard%20Digital_%24250

no purchase fee, can be used for ato.

 

[andye]

https://www.giftcards.com.au/ShoppingCart/ProductDetail/CG_card_Mastercard%20Digital_%24250

no purchase fee, can be used for ato.

In store they do have an activation fee but discounts/FB offers come round every 2 or 3 months (until tomorrow there is a modest offer)

 

[albyd]

In store they do have an activation fee but discounts/FB offers come round every 2 or 3 months (until tomorrow there is a modest offer)

Thanks for sharing. I tend to prefer to buy them online though with daily purchase limits and with ATO now enforcing limit of 5 payments per day, you’d need a fair lead up to pay a sizeable bill. In a post Beem world, not sure it’s very feasible. My 2 cents worth. YMMV.