Strategy to obtain US Amex

[sudoer]

How are you guys claiming tax deductions on business purchases paid through the US credit cards?

I'm not doing this myself, but I would imagine something like this...

• Identify and total all business related transactions when statement is generated (ideally use a supplementary card for ease of separation)
• Pay that portion of statement balance from business transaction account using Wise
• Save Wise receipt as proof of total AUD cost/exchange rate used for business expenses
• Pay remainder (non-business transactions) using Wise from personal transaction account

 

[Franko Costa]

How are you guys claiming tax deductions on business purchases paid through the US credit cards?

The accountant must be miserable going through the credit card statements that is in USD.

Easy buddy.

I have a bill for A$5k. If it is ATO, then I am charged a total amountof $5,072.50.
I transfer $5,072.50 from my biz account to my personal account
Mark the transfer as reimbursements of business expense (including the credit card fee)

This way I don't have a US card feed going into xero which is much more complicated and wastes time.

Hope that makes sense

 

[pyramidforce]

I successfully used coles $250 mastercard gift cards to pay ATO earlier this year and was planning to again..

Update. I bought 5 cards.
4 of them worked on DEFT and not at ATO.
1 of them worked at ATO and not DEFT.

I have absolutely no idea what is happening but at the end of the day it all worked out so I'm not complaining.

 

[Grrr]

Is anyone successfully using their US Amex with a multiplier (eg Green so 3x) on Sydney toll roads ?

My Aus Plat classified MyEToll deductions as government spend and so did 1x

 

[sudoer]

I don't, but I'm not surprised It doesn't categorise properly through E-Toll (via NSW Goverment)

Might have better luck with Linkt?

 

[blacksultan]

I have been pre approved for c1 venture and venture x . How long does this last for ? Do I need to take it up right away or does it last ?
I am hesitant as I only have a text now no ? Will this work with C1 or do I need tello etc ?

 

[blacksultan]

Has anyone had any luck with cardless Amex avianca card ?

 

[Uncharted6264]

This way I don't have a US card feed going into xero which is much more complicated and wastes time.

again may depend on your circumstances but I have my US Amex linked to Xero and I’m pretty sure all my bookkeeper does is press “ok” to the automated link up from the bank transfer of AUD out of my business checking account, to the USD repayment line in Amex US TXs. Not a whole lot else to it. Shove the receipts from Wise somewhere for storage (mine auto-forwards and archives from my inbox).

 

[maverick1]

Easy buddy.

I have a bill for A$5k. If it is ATO, then I am charged a total amountof $5,072.50.
I transfer $5,072.50 from my biz account to my personal account
Mark the transfer as reimbursements of business expense (including the credit card fee)

This way I don't have a US card feed going into xero which is much more complicated and wastes time.

Hope that makes sense

I follow the same. Most of the times buy discounted GC to pay ATO like the one's on offer this week using my Amex US card but methodology is exactly same as you described.

 

[Franko Costa]

I follow the same. Most of the times buy discounted GC to pay ATO like the one's on offer this week using my Amex US card but methodology is exactly same as you described.

I tried to do the same once but it was too much effort for the amount of money I saved

 

[maverick1]

I tried to do the same once but it was too much effort for the amount of money I saved

I had a pretty good run back in March on Visa Gcards. Got A$15k+ worth GC saving 7% or 5 to 6% after FX on my new Plat card. Helped meet the SUB quickly.

 

[blacksultan]

Been approved for the C1 venture reward card . However I could not complete my id verification . I used to back of my AU passport a few times ( when it requested back of document ) . Finally it timed out and asked me to call number on back of card once received .
I tried to set up a new online account but it linked up to my old account linked to my checking account which was closed as I could not authenticate myself .
That account was blocked . I do not have access to my original text now number .I could not use my new telllo phone no as it says it’s not registered to me ( since I got the no yesterday does it take time to reflect in public records ?) . I could not use my new text now number .

Any ideas . TIA

 

[itsjackson]

What did you enter...?

I just entered my passport number with some extra numbers so it would allow me to click next, I wanted to check if I was still in PUJ without calling up, but it just went through. I then received an email saying my application was under review and later that an outcome was made, so I called up and asked them to change it to my passport number instead.
I saw someone earlier in the thread do something similar, but I probably wouldn't recommend it either as there may be some risk involved

 

[nthd_nthd]

Does sniip etc allow US AMEX to be used? I've used my green card on pay rewards and was told I can't use international AMEX's but they will allow it as a once off.

RE ATO payments I've read you can use your US AMEX to pay the ATO directly and it'll count towards SUB (?)

I can confirm sniip does not allow oversea CC. I tried, did not work.

 

[nthd_nthd]

I follow the same. Most of the times buy discounted GC to pay ATO like the one's on offer this week using my Amex US card but methodology is exactly same as you described.

can we claim the GC fees back on biz spend if we use the GC to pay for Biz bills?

 

[pyramidforce]

I can confirm sniip does not allow oversea CC. I tried, did not work.

Damn. Thats really disappointing.

They even have a 3% fee for overseas cards. So no US amex whatsoever?

 

[nj12]

I can confirm sniip does not allow oversea CC. I tried, did not work.

They do allow US Amex as I've used mine many times but you get slugged with a 3% foreign transaction fee. Still worth it for me to meet minimum spend with certain bills.

 

[nj12]

Ok, today marks 2 weeks since application and docs submitted and Chase said they are still reviewing the documents and will get back to me in 1-2 weeks with a decision.

Need some advice here. CS agent and verification agent seems unable to transfer me to anyone else or expedite the process. This seems unusual compared to the other DPs here.

I had the same issue detailed upthread. My 2nd Chase card (WOH) took exactly 30 days to be approved despite numerous calls, verifications and escalation to different departments. I called again on the 30 day mark and they approved it on the phone. I'm not sure if it was a case of getting a competent high level rep who could progress it or whether the 30 days was some kind of hard deadline they enforced. It's frustrating but worth the wait.

 

[mattr00]

I had the same issue detailed upthread. My 2nd Chase card (WOH) took exactly 30 days to be approved despite numerous calls, verifications and escalation to different departments. I called again on the 30 day mark and they approved it on the phone. I'm not sure if it was a case of getting a competent high level rep who could progress it or whether the 30 days was some kind of hard deadline they enforced. It's frustrating but worth the wait.

Awesome thank you!

 

[blacksultan]

I can confirm sniip does not allow oversea CC. I tried, did not work.

They did a few weeks ago . But charged heavy surcharge .