Best way to pay off a large tax bill?

asdffdsa on 04/04/2016 - 23:10

I have a large tax bill to pay. I'm thinking of paying it off via a credit card to earn points, however, ANZ Black, Qantas Signature and Westpac Altitude Platinum all don't earn points for ATO transactions. Well, the Westpac Altitude Platinum AMEX does, but at 0.5 points per 1.42c, that's not great value. Does anyone know what the best way to pay a large tax bill is?

Financial

Comments

  • [Deactivated] on 04/04/2016 - 23:59
    +1

    Does your notice mention the option of paying at an Australia Post outlet?

    • asdffdsa on 05/04/2016 - 00:07

      I should have been more specific. It's actually my HECS/HELP debt (a 'loan account'). Under Other Payment Options | ATO, I can pay in person at Australia Post. Reading it, it says "You can pay at the post office by cheque, cash (up to $3,000) or EFTPOS (subject to daily limits)." Is the plan to try to pay by credit card there?

      • [Deactivated] on 05/04/2016 - 00:17
        +1

        You won't be able to pay by CC at AP, as the Credit option won't be available when your bill is electronically identified as an ATO bill.

        One idea would've been to purchase Crown Casino gift cards from the latest offer using your AMEX card (Crown GCs should be EFTPOS enabled), have them sent out to you and then use them at AP by pressing SAV.

        Two things to keep in mind though:

        • The Crown GCs incur a $10 postage fee per order (not per card), and you get the opportunity to incur AMEX rewards for the purchase, but you'll have to see if your personal ATO debt warrants a $10 surcharge to get the equivalent points.

        • Although two Crown cards have already been identified as being EFTPOS enabled, online orders have only recently been placed and are yet to be fulfilled, hence EFTPOS functionality for online ordered cards is yet to be determined. Keep checking https://www.ozbargain.com.au/node/241682 for more updates.

        • asdffdsa on 05/04/2016 - 00:33
          +1

          That's fantastic. Thanks so much for that.

          If the latest gift cards do turn out to be eftpos enabled, wouldn't the extra $100 value make it worth it in it's own right, or am I missing something?

        • [Deactivated] on 05/04/2016 - 00:34
          +1

          @asdffdsa:

          A+

          That's it. If the online ordered cards turn out to be EFTPOS enabled then you'll make ten times the postage costs on one card alone.

        • Kenb0 on 05/04/2016 - 11:42

          Don't forget also that currently there's a deal to get $500 worth of crown gift cards for $400…saving you 20%.

        • shortgum on 05/04/2016 - 11:58

          am i missing anything. isn't crown gift card for crown casino use? how can this pay bills? eg ato bills

        • [Deactivated] on 05/04/2016 - 12:20

          @leehungfei:

          Check the deal that I posted above, it'll answer all your questions.

        • asdffdsa on 05/04/2016 - 23:20

          @KaptnKaos: So, not being in Melbourne, I decided to check out the givv gift cards. Turns out you can get them in other locations, too. You can buy up to $3,000 gift cards for $2 at a location near me - a worthy upfront cost to maximise points.

          In Crown Melbourne, do the givv gift cards cost any money above their nominal value?

        • [Deactivated] on 05/04/2016 - 23:41

          @asdffdsa:

          At the machine in Crown Melbourne you'll be paying a card fee of $0 per card.

          Also, try checking to see if those machines issue eftpos enabled cards, as they might issue their own debit cards in other machines too.

  • Fuuudge on 05/04/2016 - 01:15
    +1

    If you do decide to use the crown gift cards, please confirm that if it does work.

    I am in a similar position

  • Sammyboy on 05/04/2016 - 09:25

    Would there be a fee charged if used to pay off tax bill at Aust Post? I have a friend with an extremely large tax bill to pay off…25k+ So he could theoretically buy 50 cards (as separate transactions from crown)???

    • [Deactivated] on 05/04/2016 - 10:01

      Buy them in one transaction… Nothing stopping you I suppose, unless Crown have their issuing limits or the card you're purchasing with has its own limits.

      There is absolutely no fee for posting ATO bills at Australia Post.

      • Sammyboy on 05/04/2016 - 10:39

        It says one per transaction and its online only

        • [Deactivated] on 05/04/2016 - 11:09

          Ohhh… I didn't notice the one per transaction limit. That must be a new thing. It is online only, true, but I got my card in person so online ordered cards may or may not be EFTPOS enabled.

  • AndrewSyd on 05/04/2016 - 12:30

    Following a recent transaction, ANZ have informed me that there are no longer any rewards points for ATO bills.
    Hence no point anymore, as you get charged a credit card fee by ATO as well.

  • rusty2k on 05/04/2016 - 19:33

    Has anyone purchased card online to see if its Eftpos enabled ?

    • [Deactivated] on 05/04/2016 - 21:03

      Check out the Crown deal that I linked to above, it'll explain most queries.

  • scanuck on 08/04/2016 - 01:22

    I got my notice of assessment today - there is no facility noted on it to pay at Australia Post (making EFTPOS cards redundant for this purpose)

    Is this the same for everyone?

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