ATO (tax office) payments by credit card

[sumthinfornuthin]

For what it is worth I got a letter from the ATO today which I guess will go to everyone in which they said " we will calculate your rebate entitlment based on your income for Medicare levy surcharge purposes when you lodge your 2013 income tax return. If yiou receive less rebate than what you are entitled to, we will refund the difference owed to you. if you have claimed too much rebate, we will collect the liability via your income tax return"..............

Is everyone sure that we are not going to cop a liability from the ATO after 2013 when we lodge our returns for 2012/13, even though we pay 12 months in advance now and the Funds work on 30% NOW which may in fact not be what it is for 2012/13.

I don't know the answer I am just raising it before everyone boosts the cashflow of the Funds

 

[sumthinfornuthin]

Just read 12 tax tips on smart Invester Blog apparently ATO has given a ruling in 2004 that rebate applies in year of expenditure so maybe it's safe to pay up big in advance. Might pay to get some proper advice I don't know for sure one way or the other

 

[edman]

Is this the ultimate compliment?

Definately a compliment, but also an indication that you should consider a new accountant.

 

[Stephen65]

I rang up Medibank Private today and they were happy to give me a quote on the spot for what my cover would cost for the period to 31 December 2013, incorporating the full 30% rebate. I was then able to pay it by CC over the phone.

 

[Stephen65]

Article in the Age today:

Prepaid savings may have hefty cost

Summary: it works but don't change your cover in the prepay period or you will be stung

 

[cove]

Lots of folks want that 30% rebate if they can afford it.
My last taxes for this financial year are due this week so I am thinking which card to use.....

 

[Deleted User]

Lots of folks want that 30% rebate if they can afford it.
My last taxes for this financial year are due this week so I am thinking which card to use.....

ues my card and pay me the money in cash lol

 

[albatross710]

Is this the ultimate compliment?
I have just received an email from my accountant asking me how to use a credit card to maximise points/value on tax/BAS payments!
So I sent him a detailed reply about Visa and 0.48% and Amex and 1.25%, and which card was best etc etc

Consider sending your accountant a Tax Invoice at your industry's highest hourly rate.

 

[cove]

I really hope I don't leave shintaro10x too warped to work once we get together later this month in Adelaide. I am sure we need someone left behind to keep EDR running and the competition seems to really be hotting up.
My life this year seemed to one where tax bills kept rolling in. I think I paid more than fifty this year!

 

[sumthinfornuthin]

Don't complain....you can't go broke paying tax plus you can get FF points doing it...what more would one want ???...the only other certainty in life is pretty unpalatable

 

[Deleted User]

I really hope I don't leave shintaro10x too warped to work once we get together later this month in Adelaide. I am sure we need someone left behind to keep EDR running and the competition seems to really be hotting up.
My life this year seemed to one where tax bills kept rolling in. I think I paid more than fifty this year!

I'm all ears cove...

 

[cove]

I thought I had better brush up on paying on the Optus ATO connection as I had trouble paying from America using the US touch phone as the ATO system did not recognize the bleeps.
We are in London in July after Booome and Adelaide so I think everything will work sweetly while we travel more in 2012-2013.
I went CitiSelect,Woolies EDR and Amex Ultimate for the final ATO account this tax year just to share it around and keep all these cards active.

 

[sumthinfornuthin]

Possibly not a bad idea to keep the EDR CC balances down as I redckon they are going to start cancelling cards after July 1 if they reckon there are business transactions going through...might be a good time to be using 2 or 3 cards etc

 

[kpc]

I thought I had better brush up on paying on the Optus ATO connection as I had trouble paying from America using the US touch phone as the ATO system did not recognize the bleeps.
We are in London in July after Booome and Adelaide so I think everything will work sweetly while we travel more in 2012-2013.
I went CitiSelect,Woolies EDR and Amex Ultimate for the final ATO account this tax year just to share it around and keep all these cards active.

I always wondered why you don't pay online...my 2 work colleagues you met in London still refer to you as the chap who pays all his taxes on credit cards, and flies around the world in F and J!! In fact one of them is currently applying for a Citi select card so your influence has rubbed off on at least one of them!

 

[angusburns]

Possibly not a bad idea to keep the EDR CC balances down as I redckon they are going to start cancelling cards after July 1 if they reckon there are business transactions going through...might be a good time to be using 2 or 3 cards etc

Interesting, what might lead you to think that? I was thinking of applying for an EDR card...

 

[sumthinfornuthin]

Letter they sent out to everyone about a month ago advising changes to T & C's and stating they can cancel car if they consider use inappropriate etc and card can only be used for personal and domestic use and changes to credits to gambling sites etc. Still think its a great card, get it, you will get 16,000 points on signup, other good card is JETSTAR Mastercard

 

[drross]

Letter they sent out to everyone about a month ago advising changes to T & C's and stating they can cancel car if they consider use inappropriate etc and card can only be used for personal and domestic use and changes to credits to gambling sites etc.

Been some stories in local newspapers about EDR cards already being cancelled and points lost because business expenses on 'personal' credit card

 

[sumthinfornuthin]

Might be a time to backoff EDR CC use ??

 

[cove]

Gee kpc that is nice that we converted some of your conference attendees in one night! And that was an Alzheimer's conference too! The Canary Wharf Hilton is really quite comfortable and the red wine in the lounge got us talking.
On the Woolies EDR card I read their letter as a little bit ominous but it is my personal spending card so it really gets a big mix of stuff on it.
I still prefer to call my ATO girlfriend because she is a real comfort with her reassuring voice!

 

[penegal]

...can only be used for personal and domestic use and changes to credits to gambling sites etc...

Slightly OT... But what if I am a gambler*, and my gambling is for private domestic use.


*I'm not a regular gambler, but what if I was?





Either way, I think the golden rule is don't be too greedy on the EDR card.