The Platinum Edge Credit Card annual fee increases to $195

[ninja-tim]

Can anyone confirm if the conversion ratio for Krisflyer miles is 1MR:1KF? or is it different for this card?

 

[andye]

Can anyone confirm if the conversion ratio for Krisflyer miles is 1MR:1KF? or is it different for this card?

You are correct 1:1 with Edge

 

[andye]

Can anyone confirm if the conversion ratio for Krisflyer miles is 1MR:1KF? or is it different for this card?

In blocks of 5000 MR points

 

[Plutonus]

booking a flight then cancelling it and using the credit (now held by Amex unfortunately) to book a completely different destination

Done this several times. Just has to be one of the routes you can book with the free flight.

 

[ninja-tim]

So its $1:3KF when used at major supermarkets and $1:2KF for petrol stations? Is that the only places you should be using this card?

 

[andye]

So its $1:3KF when used at major supermarkets and $1:2KF for petrol stations? Is that the only places you should be using this card?

You can get 3kf at petrol and liquorland bunnings myer jbhifi etc with only a little creativity

 

[ninja-tim]

You can get 3kf at petrol and liquorland bunnings myer jbhifi etc with only a little creativity

I see now.

However this will be for business spend. I guess I can just attach bunnings/petrol receipt to the woolworths receipt to explain gc's. Might get messy though. Oh well. Thanks for the tip.

 

[burmans]

I see now.

However this will be for business spend. I guess I can just attach bunnings/petrol receipt to the woolworths receipt to explain gc's. Might get messy though. Oh well. Thanks for the tip.

Spend is still spend, surely the company just want the tax invoice, do they care how you paid? Mine never have.

 

[legroom]

So its $1:3KF when used at major supermarkets and $1:2KF for petrol stations? Is that the only places you should be using this card?

That's how I use this card. Period.

 

[ninja-tim]

Spend is still spend, surely the company just want the tax invoice, do they care how you paid? Mine never have.

No this is for my own business.

 

[burmans]

No this is for my own business.

OK, the method you have suggested proves that you have used the giftcard on deductible expenditure, I see no reason the ATO wouldn't accept this.

 

[zzyss]

OK, the method you have suggested proves that you have used the giftcard on deductible expenditure, I see no reason the ATO wouldn't accept this.

Agreed. There should be no hassles here at all. The full paper trail exists as the receipts will show the details of the gift card.

 

[ninja-tim]

Agreed. There should be no hassles here at all. The full paper trail exists as the receipts will show the details of the gift card.

Yeah, the only messy part/hassle is the change left over on the cards. Only way to avoid it is to use full amount on GC then use amex to pay the balance.

 

[prozac]

OK, the method you have suggested proves that you have used the giftcard on deductible expenditure, I see no reason the ATO wouldn't accept this.

Not up on the tax issue re points earning, but an audit could draw the question why. Could they then begin discussing points earn on a business expense and fringe benefits? Just asking.

 

[ninja-tim]

Not up on the tax issue re points earning, but an audit could draw the question why. Could they then begin discussing points earn on a business expense and fringe benefits? Just asking.

I think it's been heavily discussed points earned on business expenses isn't a FB? Not sure the exact reasoning why, but it's somewhere on this discussion board
Could argue, that instead of giving your staff a credit card, you can give GC for work expenditure

 

[burmans]

I think it's been heavily discussed points earned on business expenses isn't a FB? Not sure the exact reasoning why, but it's somewhere on this discussion board
Could argue, that instead of giving your staff a credit card, you can give GC for work expenditure

There is a ATO ruling on this somewhere, yes. From memory it suggested that if you were getting more than 120 K point from business expenditure you MIGHT be getting personal benefit but as far as I know this has never been enforced.

 

[ninja-tim]

There is a ATO ruling on this somewhere, yes. From memory it suggested that if you were getting more than 120 K point from business expenditure you MIGHT be getting personal benefit but as far as I know this has never been enforced.

Lol I'm sure a lot of people on here surpasses 120k pts a year, doubt I've seen anyone complain about getting taxed for it.

 

[prozac]

Lol I'm sure a lot of people on here surpasses 120k pts a year, doubt I've seen anyone complain about getting taxed for it.

My observation was not whether points collection within the business was taxable or not, but if the use of gift cards would raise a flag in the remote chance you get an ATO audit.

 

[ninja-tim]

well I'd assume as long as you attach copy of tax invoice to gc purchase, it'll show a complete paper trail to make ato auditors happy.
I guess to make it easier, buy each gc separetly.