ATO (tax office) payments by credit card

[ginkrypton]

Interesting.

So here I am spending $700k a quarter to the ATO, earning half a point with my business platinum. When I can go get another card for free and earn a whole point instead?

Sigh.

Amex offers Qantas or Virgin annual fee free card credit card. You can find info on AMex website.

You will earn 1 point per dollar spent.

With that much money to spend, I guess you should look for cards other than fee free cards.

 

[d00dz]

Interesting.

So here I am spending $700k a quarter to the ATO, earning half a point with my business platinum. When I can go get another card for free and earn a whole point instead?

Sigh.

https://www.americanexpress.com/au/content/all-cards/?filter=ff&bkgd=3

or if you need a busienss one: https://www.americanexpress.com/au/content/qantas-business-credit-card/?filter=ff But $160 p.a fee

 

[Imlovinit]

Amex offers Qantas or Virgin annual fee free card credit card. You can find info on AMex website.

You will earn 1 point per dollar spent.

With that much money to spend, I guess you should look for cards other than fee free cards.

Well I already pay a large fee for the business platinum, so I'm not necessarily looking for more fees to pay.

I just want to get better value for my ATO spend. And using the Qantas card seems like a simple way to do it, at no extra cost.

 

[d00dz]

Well I already pay a large fee for the business platinum, so I'm not necessarily looking for more fees to pay.

I just want to get better value for my ATO spend. And using the Qantas card seems like a simple way to do it, at no extra cost.

Do you do mutiple payments?

Since it says "Tax payments between $10 and $50,000 will be accepted"

 

[Imlovinit]

Do you do mutiple payments?

Since it says "Tax payments between $10 and $50,000 will be accepted"

Yeh even with the platinum I need to do multiple payments because the payment website only accepts a certain limit.

Thanks for the links.

 

[wafliron]

The Qantas American Express Discovery Card seemingly offers 1 QFF point per $1 spent, including on payments to ATO.

Am I mistaken? What is the catch?

No "catch", but it's a mighty expensive option given the 1.45% Amex surcharge for ATO payments. Better than your current Amex Plat though.

If you're OK with the 1.45% Amex surcharge you'd be much better off signing up for one of the bank-issued Amex cards - either one of the 1.5 QFF points per $1 card if you want QF points, or a Westpac Altitude Platinum (Plus?) if you want SQ / MH / VA points (earns 1.5 points per $1 to all of those programs).

Or, as a much more cost-effective option, switch to a Visa/Mastercard and pay only 0.48% surcharge. Any of the 1 QFF point per $1 spent Visa/MCs (e.g. Woolworths EDR) if you want QF points, or a Citibank Select if you want SQ / VA / CX points (1.33 points per $1 for SQ and VA, and 1 point per $1 for CX).

Since it says "Tax payments between $10 and $50,000 will be accepted"

The limit is per individual payment. If you have a bill higher than $50k you can just split it across multiple payments.

 

[Newk]

Or get a bank Amex and get 1.5?

 

[Newk]

Oops. Someone got in before me

 

[Imlovinit]

No "catch", but it's a mighty expensive option given the 1.45% Amex surcharge for ATO payments. Better than your current Amex Plat though.

If you're OK with the 1.45% Amex surcharge you'd be much better off signing up for one of the bank-issued Amex cards - either one of the 1.5 QFF points per $1 card if you want QF points, or a Westpac Altitude Platinum (Plus?) if you want SQ / MH / VA points (earns 1.5 points per $1 to all of those programs).

Or, as a much more cost-effective option, switch to a Visa/Mastercard and pay only 0.48% surcharge. Any of the 1 QFF point per $1 spent Visa/MCs (e.g. Woolworths EDR) if you want QF points, or a Citibank Select if you want SQ / VA / CX points (1.33 points per $1 for SQ and VA, and 1 point per $1 for CX).



The limit is per individual payment. If you have a bill higher than $50k you can just split it across multiple payments.

Thanks.

Just goes to show I should pay a bit more attention and do a bit more reading.

 

[wafliron]

Thanks.

Just goes to show I should pay a bit more attention and do a bit more reading.

No probs. You've got some big $$$ you can put through CCs there, so a bit of research and adjustment to your card portfolio should deliver big returns!

 

[Imlovinit]

No probs. You've got some big $$$ you can put through CCs there, so a bit of research and adjustment to your card portfolio should deliver big returns!

Yeh, plenty of GST.

I have never really had time, and have been too naive to even think about other options. But I noticed I was only getting half a point on the platinum.

 

[serfty]

see this blog for more information:

Frequent Flyer Fiend and The Game - Blogs - The Australian Frequent Flyer Online Community

 

[cove]

You probably need to have done a speed reading course before starting to read that blog. Looks like Serfty is a speed reader!
There are at least 6 Visa and MasterCards that pay at least a true point per dollar with any ATO bill.
All bills from the ATO can go on a credit card....even the ones that say you cannot pay on a credit card.
Direct Amex branded cards have in many cases had their points earn rate for ATO payments reduced drastically.
No Big 4 Bank pays a true point a dollar on their Visa/ MasterCards unless you count BankWest as it is now part of CBA.
Qantas Staff Credit Union, JetStar,BankWest platinum,Citibank, HSBC Platinum and Woolworths Everyday Rewards are cards I know have non Amex cards that have good earn rates but some have points capping.
Generally the Big 4 banks have Platinum Amex co-branded cards that still pay 1.5 points per dollar but again watch that you don't get sleazed by any fine print.
The cost of using Amex per point earned is about double the cost of the Visa/masterCards
but if you need the points just go for it especially on the tax deductible ones !

 

[legroom]

..... I have never really had time, and have been too naive to even think about other options. But I noticed I was only getting half a point on the platinum.

The short version as you are short of time:

Citi Select for its Visa wide acceptance and wonderful earn rate on SQ / KF

WOW EDR CC: 1:1 earn rate for QFF, no annual cap, $89 p.a.

AMEX: lower acceptability + only if you are willing to accept a higher surcharge (from ATO and merchants), if no surcharge only aim for cards with 1.5:1 earn rate (QFF or KF..). Beware of annual point capping and automatic point transfer (eg KF had a 3-yr shelf life).

Happy hunting as we all are.

The field is a dynamic one, not cast in stone.

 

[PLANT]

Can someone break down what I get back as a tax deduction on FEES for a $10K ATO bill, paid via visa card please.

Edit: I'm told by accountant that the fee is deductible.

Then you back your marginal tax rate on the fee of $48.???????????

 

[medhead]

Can someone break down what I get back as a tax deduction on FEES for a $10K ATO bill, paid via visa card please.

Assuming the fee is deductible for you. Then you back your marginal tax rate on the fee of $48.

It is entirely your responsibility to ensure the fee is deductible.

 

[d00dz]

$10,000 (Amount) * 0.48 / 100 (Rate for VISA as a percentage) = $48 (Fee)

-.-

 

[sumthinfornuthin]

$10,000 (Amount) * 0.48 / 100 (Rate for VISA as a percentage) = $48 (Fee)

-.-

Who cares whether or not you deduct it

10,000 QFF for $ 48, that's a great deal 8 days a week !!!!

 

[PLANT]

10K QFF for $0 is better....so please whats the answer I seek...XS is not as clear cut as hoping

 

[sumthinfornuthin]

It's simple

Deduct your tax rate x $ 48 and that is the rebate you get from the ATO PROVIDED you can claim the cost and I am not saying you can or you cant. I would not worry...10,000 points for $ 48.00 is a top deal in anyone's book IMHO