ATO (tax office) payments by credit card

[levelnine]

@exceladdict could you DM pls regarding this? Many thanks

No need. Keep scrolling down.

 

[shak151]

Question to the community: I have purchased some vanilla MasterCard from Woolies during the current promotion. My next BAS payment will be for the quarter from April to June. Even though I can't submit the BAS until June end, Can I make the payments in the ATO portal in advance for the Apr to June Quarter BAS? I don't want to keep holding the gift cards for long without using them.

 

[MARTINE]

Question to the community: I have purchased some vanilla MasterCard from Woolies during the current promotion. My next BAS payment will be for the quarter from April to June. Even though I can't submit the BAS until June end, Can I make the payments in the ATO portal in advance for the Apr to June Quarter BAS? I don't want to keep holding the gift cards for long without using them.

The BAS quarterly is its own account as is your income tax and super. You can make payments in advance to that account or (if you envisage uou will have a tax liability next year) your annual return. You will only get interest (is my understanding) when you have paid early a debt the ATO HAS RAISED eg your FY24 tax return requires you to pay X amount by 3/2/25 - if you pay early you may get interest for this early payment. That has been my experience

Post automatically merged: Jun 8, 2024

Amex will still pay points for ATO payment

 

[andgucps]

Hi everyone,
Simple question I haven't been able to find an answer to online or in existing responses.

Are payment fees via Sniip deductible if I am not a business? (no ABN, personal).
I want to do the Bpay trick but it wouldn't make sense unless I could also deduct the fees as tax deductible.

 

[RealtimeY]

No*

*ask your accountant

 

[shak151]

The BAS quarterly is its own account as is your income tax and super. You can make payments in advance to that account or (if you envisage uou will have a tax liability next year) your annual return. You will only get interest (is my understanding) when you have paid early a debt the ATO HAS RAISED eg your FY24 tax return requires you to pay X amount by 3/2/25 - if you pay early you may get interest for this early payment. That has been my experience

Post automatically merged: Jun 8, 2024

Amex will still pay points for ATO payment

Thanks,
So basically I can pay in my BAS account even though there is no payment required at the moment and it will be adjusted when I lodge the BAS next month

 

[MARTINE]

Thanks,
So basically I can pay in my BAS account even though there is no payment required at the moment and it will be adjusted when I lodge the BAS next month

That has been my experience

 

[andye]

That has been my experience

Mine too.
I try to use giftcards as soon as I can. There is always the hacking risk but I'm just as likely to be worried I'll put them somewhere and forget them.
I do tend to use GCs that can be accepted at Canberra there but don't want to get too far in advance as current mortgage interest rates mean I'd be better off using them on daily spend than a BAS 3 months away.

 

[DeadPirateRoberts]

No need. Keep scrolling down.

So I've had a look around and haven't seen the answer? Could you shed some light on this

 

[exceladdict]

So I've had a look around and haven't seen the answer? Could you shed some light on this

It was only a couple of cards awarding points for merchants and payment methods despite the PDS saying it wouldn't. All of exceptions I was aware of no longer award points.

 

[cove]

If for some reason I have to pay the ATO seven figures from time to time what is the lowest cost way to earn Kris Miles. I have St George Visa.
Not asking for a friend…..

 

[daft009]

If for some reason I have to pay the ATO seven figures from time to time what is the lowest cost way to earn Kris Miles. I have St George Visa.
Not asking for a friend…..

Mine are 10% of yours now and I'm using pay.com.au premium plan with my Amex card.

My dragon doesn't get used much these days

 

[andye]

Alternatively you could open 200 different WW EDR accounts and buy 2x$500 gift Mastercard a day for each one during current promotion

 

[daft009]

Alternatively you could open 200 different WW EDR accounts and buy 2x$500 gift Mastercard a day for each one during current promotion

Those days are gone. Used to do it during the only1 visa days with my platinum edge card

 

[andye]

Those days are gone. Used to do it during the only1 visa days with my platinum edge card

Those were the days. 3-4 KF/$ made the hassle worthwhile

 

[cove]

We get Kris Miles from some of our US credit card spend but we don’t have an Amex other than Velocity to earn Virgin points that can transfer across to Kris Miles at a big discount. US credit cards are way too expensive to use on ATO as the cost is greater than 2%

 

[double06]

Mine are 10% of yours now and I'm using pay.com.au premium plan with my Amex card.

My dragon doesn't get used much these days

Would I be right to say that if used for BAS payments, the premium fee cost ($165/mth) might be tax deductible?

 

[cove]

Well @double06 that is likely but do ask your tax accountant.

 

[Flashback]

Would I be right to say that if used for BAS payments, the premium fee cost ($165/mth) might be tax deductible?

Only if the card is used exclusively for business use, otherwise it's a %.

 

[cove]

Yes @Flashback I left the tax accounting industry in 1983 so a few things changed over the last 41 years.