New Altitude Black has landed...

[cove]

Hello K,
if you pay ATO after November 8th on Black Altitude you will get a bit of a shock.

 

[cove]

A day off in Sydney had me thinking about just how far forward I should pay the ATO on these cards. I might even use the MasterCard to extract some super cheap points because I can. It is the last chance to load this warehouse.

 

[k3nnis]

Thanks Cove. Won't affect me then. I don't have any ATO spend which are the only cards that earn points for ato after Westpac??

 

[cove]

I will still use Westpac Platinum Kris Flyer for ATO.

 

[k3nnis]

Ok sounds good

 

[ukh]

A day off in Sydney had me thinking about just how far forward I should pay the ATO on these cards. I might even use the MasterCard to extract some super cheap points because I can. It is the last chance to load this warehouse.

Paying in advance is fine, although there is a " cost " - the ATO can be slow to give a refund and the money you have paid to ATO could be used to pay interest on a loan etc. This is a relatively minor cost but in a way there is no rush to pay in advance as long as other options such as Platinum Krisflyer card are still functioning.
I am expecting a refund from ATO of over 250K...

 

[cove]

Our monthly BAS is quite a bit and that excludes our quarterly taxes.if the value of money is 6% then 3 months forward is 1.5%. If that is a tax deduction........
Platinum Kris Flyer miles covers you for 3 plus 1 year and the warehouse is to cover the rest of the decade.

 

[angusburns]

Thanks - I forgot that the WBC KrisFlyer card sweeps the point to SIA every month. Would prefer to warehouse at the bank but I guess you take what you can get.

 

[Ghostdunks]

Made an ATO payment on Tues night, finally posted to my account today just a couple of hours ago, along with reward points. Thought it was a lot longer than usual for the transaction to post and that maybe they had already prematurely stopped it but they eventually posted.

At this rate, if I want to make sure all my reward points post by the 7th Nov, I need to make all my payments by the 4th Nov. Using Nov 7th as cutoff date rather than 9th, as I don't know how they handle posting points over the weekend and I don't want to have to find out.

Currently trying to move big amounts of money around various banks/accounts to pre-pay my tax obligations by the 4th.

 

[cove]

The last chance for stuffing Black Altitude points warehouse full is almost finished for me using ATO, land tax and payroll tax,shire rates and water rates. I had thought that I might get it a bit fuller but November 9th is not that far away.
It has been fun trying to get a decade of front of plane flying points but it is almost time to move on to another game.

 

[k3nnis]

Hi cove,

Just buy more groceries on a plat edge card

Cheers,
K.

 

[Ghostdunks]

The last chance for stuffing Black Altitude points warehouse full is almost finished for me using ATO, land tax and payroll tax,shire rates and water rates. I had thought that I might get it a bit fuller but November 9th is not that far away.
It has been fun trying to get a decade of front of plane flying points but it is almost time to move on to another game.

Hey cove, I might have missed something but I thought that the "game" has only ended for ATO payments from nov 9th onwards. Land tax, payroll tax, shire rates and water rates are still viable uses for the Black, no?

 

[cove]

I had a large land tax bill due in November so I put that into the pot just in case. That went in for a 0.625 points earn for a fee of 0.5% on the Black MasterCard plus a 0.88 AA point earn on the US Citi credit cards.
I think those other charges will be ok but I wanted certainty on a bill that was close to $140k.

 

[ozkid]

Hey cove, I might have missed something but I thought that the "game" has only ended for ATO payments from nov 9th onwards. Land tax, payroll tax, shire rates and water rates are still viable uses for the Black, no?

That's my understanding too. I'm still holding on to the Black post-Nov 9 as I value the warehousing and ability to spread to different schemes. 80% of my non-tax spend still goes through it

 

[cove]

Yes I cannot dump the card now that I have about XX Suites rides stored in the warehouse. Our SQ miles are on top of this.

 

[PLANT]

Is that roman for 1010????
That's a lot of flights!!!!!

 

[ukh]

I just paid my last ATO payment for this card - about 100K. I hope the points post soon. Will keep you posted.

 

[Danger UXB]

Is that roman for 1010????
That's a lot of flights!!!!!

As cove said enough to keep him flying for a decade

 

[cove]

Thought about it overnight and I have now done a seven number in payments in advance to ATO. It was my last hurrah for taxes on this card. Probably a bit nutty but it is done and dusted with the card sitting at zero owed once everything processes.
Thank you GK....it was a lovely card product for us.

 

[cove]

I transferred 900k Altitude points into 450k Velocity points and I will get the 15% bonus which is 67.5k