Wonder if this is why they have discontinued the citibusiness gold card?
I doubt it. The CBG T&Cs actually disallow business spend too, rather bizarrely.
I don't know if I'm missing something here. I think if the ATO is paying less than 0.5% merchant fee on Mc & visa and points are worth 1.1% for cash back and much more as FF points (spending on the CC you're using), then it's a losing proposition for them in a big way. It's just the reverse of why it's attractive to consumers to pay by credit due to points value vs merchant fee?
The government merchant rate is actually 0.33% - and then Visa/MC have to take their cut too.
That said, this topic has been done to death before
I am also in the camp that ATO transactions actually
cost them money - why would they be trying to stamp them out otherwise? - but it is a valid point that there is more to a value of a customer than what one specific set of transactions may cost.
Back on topic, you don't need a brain to know that no 'person' is going to pay some stupid amount of tax a month. If you are straight everyday person PAYG, you won't even pay much tax at all if any.
If you are some high level executive or business owner, you would do whatever you can to minimise your tax liability, you are NOT going to pay $10000 tax a month.
What asg93e said. While I'm (unfortunately) not in this position myself, if I were I'd simply be paying that much tax. Some people who earn a heap can certainly legitimately "minimise" their taxable income to quite a degree, but a decent proportion (note: not everyone - before anyone jumps on me!) are basically doing it by lying to the tax office / doing things that are unethical or illegal. Not everyone has the lack of ethics required to do that.
I have a Citibank Select Visa Signature card and recently applied for a credit limit increase from around $35,000 to $50,000.
Their credit team called me back and informed me that I would not be receiving an increase and commented on some previously made business expenses charged to the card.
Aaannnd back to the original topic. This is
exactly why I haven't requested a limit increase, even though I'd like to. It's been made pretty obvious in other recent threads in this forum that asking for a credit limit increase gets the attention of Citibank with regards to business transactions. So far only warnings have been reported, but no point "poking the bull", so to speak.
Was there any consequence for you, other than the limit increase being denied and the warning?
As I've said a couple of times over the past few months, I think the "end is nigh". The party is certainly not yet over, but the writing is on the wall. Hope I'm wrong though
I asked how some cardholders can make payments to the ATO and was told we have now become aware of this and are looking at stopping people making ATO payments on their card.
While I agree with the comment you made that one person saying this isn't likely to make a difference, it's still
very bad form. :evil:
