Hi everyone, I work at a small organisation (I’ve been here for 3 years now) and I have a work credit card. I’ve been using Cashrewards for the last week only, when making purchases (flights, car rentals, flowers). The cash back amounts are small but I am feeling like maybe I shouldn’t do it? I was wondering what ur thoughts were on this? Is it wrong?
no.
Why do you think I always offer to buy the coffee rounds, the stuff for work parties etc etc? Because I get flybuys, airline miles, free coffees and the money gets reimbursed to me
I would think that it could be problematic if it is not disclosed.
You are obtaining a private benefit from work expenditures - your employer has the right to know about this.
I work for a government department so our rules would be different. I can use my corporate credit card but nit collect say Woolworths reward points. In the days before corporate credit cards we couldn’t use our personal credit cards and then get reimbursed. This was considered getting a profit from FF points accumulation. We had to use our debit cards to be reimbursed; however, sometimes the reimbursement would take 4 weeks.
Meh, probably not a big deal but just ask the boss in case they have a problem with it.
Only employers are allowed to exploit employees. Govnuts don't let it work the other way.
Imagine stealing $7.8M from your employer. You would be in jail, but govnuts have no issue with an employer stealing $7.8M from employee wages. All you have to do is pay a $200K penalty.
yolo
If it makes no difference to the cost paid by the employer, I cannot see why it is a problem. However, if the price is higher using cashback, then it is questionable. (Instances of these are rare. IIRC I came across comments in past threads, that prices on some hotel portals are higher if using cashback. Just be careful of those.)
As an employer, if it makes no difference to me, I would rather see the employee get a bit of benefit, rather than the merchant.
I always book my own accommodation for work to get cashback, CC points and the the reimbursement from work. Management know about the CC points part and aren't fussed one bit as it makes no difference to them.
Not really that different from earning credit card points or frequent flyer points.
Having said that if I were running the business I would let staff use cash rewards /shop back but it would go into a common account and go towards team drinks or coffees/lunches etc.
Just to be safe though have a look at your company's policy on gifts.
Its better to err on the side of caution. I did clear it with the FC / CFO and they didnt see a problem with it. I have personally used my own Cashrewards account with company CCard and supplier websites and its been a bonanza, since we make large 5k+ retail purchases often. Lifetime Rewards $7,192.82 over 3.5 years.
Ethically you should get the OK from your employer.
Technically from a tax perspective you should declare all including income cashback, flyer points, other rewards.
Its either income or a fringe benefit.
Practically the ATO is flat out trying to track PAYG and Super.
But anything that is computer recorded can be accessed into the future, it wasnt long ago the ATO couldnt correlate employment, super, business financials, health insurance etc etc now they prepopulate your tax return with that info, as a "service".
I personally don’t see anything wrong. Lots of people fly for business purpose but keep the airline points to themselves