ATO (tax office) payments by credit card

[cove]

I just keep on with dragon and world. This month I could have bought a home in most capital cities but I prefer to stay legit and pay the fiscal fiend.

 

[SoftDraw]

Could @ferni or another member please PM me the Amex option.

 

[Saurs82]

I'd also appreciate a PM.

Could you please pm me details too

 

[JYK]

Anyone who's looking for a EBP alternative (or reward pay competitor) that takes Amex (@ 1.95% fee) I have a solution....

I’m interested to find out more. Could I have a PM please.

 

[Smithy789]

Anyone who's looking for a EBP alternative (or reward pay competitor) that takes Amex (@ 1.95% fee) I have a solution....

Ferni, please can you pm me too?
Many thanks - much appreciated.

 

[Phil87]

Huge fan of ebp, would be keen to hear about the AMEX option as well if someone could please PM me the details.

 

[scheps]

I just keep on with dragon and world. This month I could have bought a home in most capital cities but I prefer to stay legit and pay the fiscal fiend.

I am glad to hear the dragon is alive.

 

[jamestran84]

pm please @Phil87 just tagging the last requestor

 

[Phil87]

pm please @Phil87 just tagging the last requestor

Unfortunately can't assist, I haven't received a PM myself yet.

 

[kpc]

Just wasted a Sat afternoon doing my BAS. When i went to pay, I noticed that the MasterCard credit payments surcharge has gone from 0.40 to 0.52% a rise of 0.3% which does not seem a lot, but when you pay large sums..... . Before any tax deductions, using the card from Perth, a QF point just went up from 0.60 c to 0.78 c per point !!

Just looking at current credit card fees for ATO payments after not looking at it for some time

Card payment fees
Card type
Fee
American Express 1.45%
MasterCard – International 2.70%
MasterCard – Domestic Debit 0.15%
MasterCard – Domestic Credit 0.70%
Visa – International 2.70%
Visa – Domestic Debit 0.15%
Visa – Domestic Credit 0.78%

Wow...the surcharge for using a domestic MC has gone up again and by a lot (by 0.18% which equates to a 34.6% increase )...at one stage it was 0.40%. Makes the Dragon much better value than the Western bank when paying the ATO!!

 

[daft009]

If I have my calculations right @ferni and his system works out bettert than the Dragon, if on 2ppd with explorer/ascent

 

[cove]

I think the earn rate on the Amex option changes on April 15th so I didn’t bother.

 

[albyd]

On my calculations, based on Visa at 0.78%, I calculate Dragon is at 0.894c/point including birthday bonus (1.04c/point excluding Bonus). I'm coming up with 0.98c/point with Explorer. I agree, will all change on April 15 to 1.73c/point with Platinum Charge (Explorer will no longer be competitive) so we'll need Amex to reduce their fee to @ferni or this method will stop working and Dragon will be the only viable method. Looks better if you can expense these costs depending on your assumed tax rate.

 

[daft009]

Yeah, everything will change post deval date

 

[ferni]

On my calculations, based on Visa at 0.78%, I calculate Dragon is at 0.894c/point including birthday bonus (1.04c/point excluding Bonus). I'm coming up with 0.98c/point with Explorer. I agree, will all change on April 15 to 1.73c/point with Platinum Charge (Explorer will no longer be competitive) so we'll need Amex to reduce their fee to @ferni or this method will stop working and Dragon will be the only viable method. Looks better if you can expense these costs depending on your assumed tax rate.

Comparing KF/VA I'm calculating Dragon(inc BB) @ 0.945 Cents Per point vs Exp@PP at 0.975 Cents per Point...

Post Deval Exp@PP at current fee I calculate 1.733 Cents Per Point (On charge)...

Of course the later gives you more options than just VA/KF, plus don't need to push through as many $ for the points (or you can earn over twice as fast...)

 

[cove]

kpc that was a 30% hike!
If your Labor buddies get in they might help make the math easier by raising the tax rate to 50% so we can go halves with the ATO.

 

[pauly7]

kpc that was a 30% hike!
If your Labor buddies get in they might help make the math easier by raising the tax rate to 50% so we can go halves with the ATO.

Please take that back

 

[cove]

It is ok we can joke about it in February but it might get a bit more serious in about 3 months time.
If the tax rate goes up you get more value out of the fee charged if you get a tax deduction for it.

 

[Mr Bios]

sorry new to this... trying to figure out but getting a headache

can someone PM me which dragon they use

also what is best to use for Amex with
rewardp
b2bp
since EBP doesnt do Amex

 

[BillytheFIsh]

Wow...the surcharge for using a domestic MC has gone up again and by a lot (by 0.18% which equates to a 34.6% increase )...at one stage it was 0.40%. Makes the Dragon much better value than the Western bank when paying the ATO!!

Ouch. At 0.7% for MC, I think this is the end of the line for the Perth card for me. Unless I have huge amounts to pay, running a few 1 point per $ cards through EBP at 0.8% up to their cap should provide plenty of QF points. I don't have to pay as much as Cove though.

The Dragon will stay in the game at 0.78%. While 1 VA point per $ @ 0.8% is tempting, that will only net 0.65 KF points which remains the main game for me.