Hi I have a small ATO bill due for my tax this year.
I was wondering if there are any strategies to benefit from paying this bill.
I understand there was a strategy of using a Platinum Edge card to buy one use visa cards at woolworths which you subsequently use to pay off the debt. I do not have an Amex and wont get one at present as my spending is quite low to justify the fees.
Any other alternative strategies to either get points or get some sort of side benefit from paying this bill?
Thanks for your advice.
I recently did this - used my Amex plat edge to buy 5% discounted wish egift cards via cashrewards, then used those egiftcards in woolies to buy Only1 prepaid visas. The $105.95 cards cost me $100.65, ie effectively 0.65%. When using prepaid cards on ATO site, they are charged as "debit cards" so only a 0.15% fee.
Takes a few steps, but all up I earnt 3ppd (conservativelty calll it approx 3% return) on Amex plat edge, for a total cost of approx 0.8%. You said you dont have an Amex, but just substitute any Visa etc which earns you at or near 0.8% (or 0.8ppd) and you're close to "even".
Tip when entering all your prepaid visas at ATO site - you need to enter $99.85 as the payment amount so that the $100 face value is fully used up once ATO adds their 0.15% fee.