Have a $3500 Generic Refund for Tech and Want to Convert in Cash

Larkhos on 27/04/2021 - 10:19
Last edited 27/04/2021 - 11:55 by 1 other user

Hi guys,

My daughter won a $3500 voucher from her company that has to be spent on tech-related goods (no vouchers). Since the gift is actually an internal refund, she can potentially use it with any retailer (online/physical) but no cash transfer can be made.

Since she doesn't really need anything ATM (nor do I), we are thinking of ways to convert it into cash. The best for us would be if we can use an ANZ card in the process since we have a spend condition to match ($2000) and the 90 days deadline is fast approaching.

The easiest way would be to buy something popular in an online shop using the ANZ card and then resell it online. However, we understand this doesn't sound great for the risk of depreciation.

Any suggestions?

Electrical & Electronics

Comments

  • Heaps for Cheaps on 27/04/2021 - 10:36
    +10

    Maybe buy a popular apple product at the education store. You can then resell with minimal hit.

  • arkhos on 27/04/2021 - 10:49

    That's a good idea, I'll pass it to her. We are also exploring whether anybody around us (Sydney area) is interested. We would be happy to give a 100 rebate (i.e. spend 3000, refund us 2900)

    • skinner on 27/04/2021 - 11:22
      +1

      FWIW I have tried that once before on a MBP and everyone still expected about 25% discount on retail. Maybe an iPhone would be a bit better? Better yet 4x PS5s!

  • Zachary on 27/04/2021 - 10:53
    +1

    Ask around if anyone wants anything $3500 bought, so you buy it for them and they pay you 3500 cash.

  • tsunamisurfer on 27/04/2021 - 10:57
    +1

    How does one win a refund?

    • djones145 on 27/04/2021 - 11:18

      well instead of a bonus or pay increase
      u win a refund! ehich u need to spend the same amount as well

      • arkhos on 27/04/2021 - 11:23
        +1

        correct, many companies do giveaways productivity bonuses - which in my opinion is a way worst than a contractualized raise.

  • Muzeeb on 27/04/2021 - 11:10
    +2

    Purchase a gift voucher some how then list it on Gumtree with a 3% discount and sit back and watch the cash roll in

    • djkelly69 on 27/04/2021 - 11:49
      +3

      *note: do not send gift voucher details until money received

      • Muzeeb on 27/04/2021 - 12:15

        Pfffffttt. Amateur.

  • garetz on 27/04/2021 - 12:26
    +3

    Purchase 2 x rtx 3080s, wait for them to come back in stock then resell them for almost what you paid them or abit more. its basically a cash conversion

    • thatonethere on 27/04/2021 - 12:32

      This would work best as you have receipt so warranty etc all good. Gumtree or Facebook Marketplace them (cash or payid in person).

    • arkhos on 27/04/2021 - 12:40

      the video cards strategy sounds good. what rebate should I propose in %?

      • thatonethere on 27/04/2021 - 12:57

        seriously at the moment if you had RTX 3080s in hand brand new with receipt you could sell them at whatever you bought them at cash in hand.

        So 0%

    • capslock janitor on 01/05/2021 - 14:53

      how often are they restocking?

  • Seraphin7 on 27/04/2021 - 13:10

    Honest question … what do you mean the gift is an internal refund? Never heard of this before.

    • randomusername2017 on 27/04/2021 - 18:33
      +1

      Sounds like the company will reimburse a tech purchase.. hence the double dip with ANZ card.

      • Seraphin7 on 27/04/2021 - 19:30

        So instead of giving you a cash bonus, they basically let you claim an IT-related expense up to (in this case) $3,500?

        What benefit does this give the employer? Are they able to claim some additional tax deduction over and above what they would for salary expenses?

        • arkhos on 27/04/2021 - 22:28

          yeah, probably

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