With tax time upon us, wondering if there is a way to pay ATO tax bill and get reward points without paying any credit card fees?
ATO online payments accepts credit cards but you have to pay 0.15 to 2.7% fee, so that is not an option.
You can pay by Bpay but my credit cards all say no points allowed on Bpay payments.
So is there a card service out there that allows payments to the ATO via Bpay and gives you points?
ATO treats ONLY1 as a Domestic VISA Debit? Awesome :)
So basically the steps are (assume an exactly $100 tax debt plus $0.15 VISA Domestic Debit fee = total card value required $100.15):
1) Cashrewards WISH eGift card buy a $106.10 card ($100.15 load + $5.95 activation fee) for 0.95x$106.10 = 100.80
2) Pay ATO the $100.15 they need
3) Clear your tax debt
4) Rack up 302 Amex Points
5) Profit
I hope that makes sense?
Incorrect. You can not load $100.15. One card only $100 value + $5.95 activation fees. So when you pay ato, you put $99.85
This is the best value in terms of points. As long as you have amex edge
Therefore on every $100 to the ATO, you pay an extra 65c but getting 300 AMEX points.
Working:
1) Cashrewards I pay $100.65 to get a $105.95 eGift card
2) I get 318 AMEX points for woolies purchase
3) I use $105.95 eGift card to get a $100 ONLY1 VISA debit card
4) I pay ATO $100 less their VISA debit card fee = 0.15c = $99.85
5) Finally, hopefully ATO doesn't come after me for their 15c
2) I get 318 AMEX points for woolies purchase
Do you still get 3 points for every dollar when you shop on everydaygiftcard.com.au? Wouldn't you get 301 amex points, since you're only spending $100.85?
3) I use $105.95 eGift card to get a $100 ONLY1 VISA debit card
Anyone know if you can earn everyday reward points on gift card purchases?
5) Finally, hopefully ATO doesn't come after me for their 15c
Assuming you owe the ATO $100, the 15c would be a debit balance on your account … guess you can bpay that :)
How about EFTPOS cards and using self serve terminal at auspost? Does that work? Though time consuming.
can not - no longer works.
I tried on 15/07/2017 and it worked for me. Did something change since then?
can you buy the ONLY1 Visa card from woolies online or must be in store?
Must be instore.
The only1giftcard website says you can load $200 or variable amount for $7.95
Anyone tried this at woolies? Do the staff kick up a stink if you're buying a gift card with a wish card?
I paid my tax bill of $36 with my DJs AMEX last month and didn't pay a fee for doing so.
Sounds awesome kerfuffle. However from this page it says that Amex incurs a 1.45% surcharge. You reckon they just neglected it due to the low amount or was there something special that you did that caused the workaround? I had to pay some tax last year and found no way out of the fee…
Wait. Now that you mention it, they did charge me 52 cents on top. Sorry! :(
That's alright, they don't let anyone through for free looks like!!
Edit. My question was redundant
ATO fees for domestic cards are pretty reasonable.
That's what I found — I paid only 0.4% using my bank's MasterCard.
Any tricks for business ATO payments? Say you had to pay 50k per quarter…
$50k per quarter? Even if there was a trick with the Only1 Visa to save a few cents, would you go through the pain of paying with 500 cards per quarter?
And don't forget buying 500 cards at Woolworth every quarter!
Even if there was a trick with the Only1 Visa to save a few cents, would you go through the pain of paying with 500 cards per quarter?
No - I wouldn't, hence my question about 'business payments'. The approach posted above doesn't scale well, when you need to pay more than a few hundred dollars.
The saving is more than a few cents. 300 amex points = $3 in gift cards or maybe $3.6 if sell the points or maybe $6 if you take a business class flight somewhere.
Every quarter I pay BAS $15,000 Yes I am manually pay $100 each card. 150 times lol. But I break it down 10 cards each days.
Have you tried the variable load card, I mentioned above?
So you would buy say 50k in woolies egiftcard(100 x $500), then buy say 1 $50k visa only1 card with those gift cards (variable load card)? Is there a maximum on the variable load card?
I might have a $5k tax bill so I would need to buy 50 Only1 Visa debit $100 cards. I think it is well worthwhile doing although manually doing this on the ATO website would be very tedious.
I might have a $5k tax bill
~15000 points = $150 in gift cards … probably take you 2 hours to get all the cards and make the payments.
You're better off participating in market research … going rate seems to be $80-$150 for a 60min interview (depending on how invasive the questions are).
Any other organizations that would do the same as the ATO and accept Domestic Visa Debit? I am thinking of utility companies etc. It would be nice if it worked with other companies who have a low debit card surcharge and who have high credit card surcharges or who don't accept them at all.
Sydney water. Council. Strata fees using DFET.
Sydney Water can use PayPal linked with Credit Card directly. $0 surcharge.
DEFT doesn't work, they are charging 1.5% for Visa/Master.
How can one sell amex MR points?
What is the best place to redeem MR in terms of getting gift cards?
Thanks.
Cannot pm u. I can advise you privately how to achieve what you'd like.
AMEX Platinum edge
1. go to cashrewards, buy woolish eGiftcard at discounted 5%
2. and go to woolish store, buy ONLY1 Visa card $100 value. If you need to pay $2000 tax , buy 20 cards.
3. use the card to pay ATO. rate 0.15% cheapest rate due you can get.
By using amex platinum edge, you are earning 3x MR for every $1 you spent at supermarket.
There is no such thing free points for ATO payment these days. You got to pay for points now!