Best Credit Card to Pay Taxes on - Velocity Points

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  slknv on 08/04/2015 - 11:08

  Bas? Just be aware they do charge a credit card fee, and I find that usually outweighs any points you get.

  • 

    [Deactivated] on 08/04/2015 - 11:17

    1% fee on 400k (hypothetical figure) = $4k. $4k for around 400k points (depending on provider) is a bargain and a half!

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  zzymurgy on 08/04/2015 - 11:25

  +1

  I wasn't aware you could pay taxes with a credit card. I thought it was savings account only.

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  Rekorb on 08/04/2015 - 11:39

  I pay my Taxes, Land Tax and everything else with Coles Rewards Master card, 2 Points per $1 spent. $10,000 paid with card 20,000 points worth about $100 to redeem, credit card cost about $37 still way infront.Low $49 annual fee.

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  Baysew on 08/04/2015 - 12:03

  See also similar thread

  Best CC to Pay ATO Bill on for Qantas FF Points

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  tooblue on 10/04/2015 - 15:01

  How big is your tax bill?

  • 

    Baysew on 15/04/2015 - 12:33

    Bigger than the combined ATO tax bill of Apple, Microsoft & Google.

    • 

      tooblue on 15/04/2015 - 12:54

      +1

      That's not too much. You can establish a payment plan with ATO and make the regular payment under $100.
      Then pay the installments at Post Office using any Paywave/Paypass card with 5% cashback.

  • 

    [Deactivated] on 22/04/2015 - 16:56

    Big enough that finding the best credit card is worth my while

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  anna10 on 12/04/2015 - 09:37

  Any one paid ATO on the AMEX Velocity free red card recently?

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  strikerzebra on 15/04/2015 - 12:24

  Apparently these are the fee's atm.

  Card type

  Fee

  Visa/MasterCard

  (effective from 1 September 2013)

  0.42%

  American Express

  (effective from 1 August 2012)

  1.45%

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  rewardscompared on 21/04/2015 - 21:24

  You can definitely pay your tax through credit card - I did it myself last week :)
  https://www.ato.gov.au/Business/Payments-to-ATO/How-to-pay/

  You'll get charged 0.42% for VISA/Mastercard and 1.45% for AMex.

  Plug in your figures to our calculator http://rewardscompared.com/cards to work out what percentage of purchases you get back in rewards points.

  It's only worth doing if you're getting a return higher than the percentages above.

  • 

    [Deactivated] on 22/04/2015 - 16:56

    Is there a quick way to see which of those cards will give you points for ato payments?
    Although you can pay your taxes on any card, many will not give you any points for ato payments.

    • 

      rewardscompared on 29/04/2015 - 21:35

      Correct me if I'm wrong (anyone) but the cards should give you points regardless of who you're paying.
      Disclaimer : If in doubt, perhaps check with your bank :)

      • 

        [Deactivated] on 30/04/2015 - 08:46

        Nope, unfortunately you're wrong. The majority of cards will not give you points for ATO transactions.

      • 

        rewardscompared on 05/05/2015 - 20:54

        @brentman1: What makes you think most cards won't? I know banks generally exclude cash advances, balance transfers, interest charges, from eligible purchases, but I just checked and Bankwest gave points for my recent ATO payment. I'd suggest check the T&C's - you may be lucky :)

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  strikerzebra on 22/04/2015 - 09:33

  I rang virgin and they don't pay points on paying taxes so I assume most other cards don't as well

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    [Deactivated] on 22/04/2015 - 16:55

    Many do, i am just trying to find the best one.