Amazon AU Upsized Cashback up to 12% to Your Superannuation @ BoostYourSuper

Related Stores

Boost Your Super

Third-Party

Amazon AU

Marketplace

• 

  jv on 04/03/2021 - 15:02

  Amazon AU Upsized Cashback up to 12%

  Upsized ?

  https://www.ozbargain.com.au/node/601808

• 

  OzBoganYeah on 04/03/2021 - 15:02

  Has anyone tried this and does it actually work? Did you get CB in your super?

  • 

    jv on 04/03/2021 - 15:03

    CB in your super?

    and then get taxed…

    • 

      CacheHunter on 04/03/2021 - 19:08

      +1

      Not if goes in as an after tax contribution, which is what I would expect.

• 

  hashtagbargain on 04/03/2021 - 15:13

  +3

  Combining cash back and super…

  Your scientists were so preoccupied with whether or not they could, they didn’t stop to think if they should.

• 

  MisterTee on 04/03/2021 - 15:18

  +1

  Why would I want it straight into my super when I could get it straight into my bank account tax free? This makes no sense.

  • 

    AssociatedBoost Your Super @ Boost Your Super on 04/03/2021 - 15:24

    +1

    According to moneysmart website if you make any contributions with after tax income (which these are) then you don't pay any contributions tax.

    • 

      Mavstrong on 04/03/2021 - 18:24

      Not sure how you figure that…
      I don't make the contribution, you do. So it couldn't be from my income (after tax or otherwise), so should be a third party contribution (and therefore taxed).

      • 

        CacheHunter on 04/03/2021 - 19:10

        Spouse contributions don't get taxed. Are you sure that third party is the test?

        • 

          Mavstrong on 04/03/2021 - 19:24

          @CacheHunter: Spouse contributions are explicitly "spouse contributions".
          "Other third party" are made by friends, relatives, or (non employer) third parties.

• 

  CoreJava on 04/03/2021 - 15:36

  +1

  Well, it is quite dangerous to let other people to know your super. I get a lot of phone calls about income protection insurance after I registered…. go figure.

  • 

    APN Adelaide on 04/03/2021 - 15:53

    Was thinking the same, why would I details to a 3rd party.
    Would prefer to get CB rather to my Bank account.

    • 

      AssociatedBoost Your Super @ Boost Your Super on 04/03/2021 - 16:06

      +1

      Hi @CoreJava,
      We have never shared personal user information with any 3rd party and have no intentions of doing so.
      Hope this helps.

      • 

        pennypincher98 on 04/03/2021 - 17:36

        We have never shared personal user information with any 3rd party and have no intentions of doing so.

        Quite sure Shopback said the same thing before they got hacked and accounts breached..

        • 

          avoidfullprice on 04/03/2021 - 17:39

          +1

          @pennypincher98:

          Quite sure Shopback said the same thing before after they got hacked and accounts breached.

          Are you sure is not above instead?

          • 

            pennypincher98 on 04/03/2021 - 19:03

            @avoidfullprice: Well both before and afterwards actually.

            Leaving the whole thing about them trying to cover it up or downplay the breach out of this thread, basically I'd be hesitant to give someone else my super details. For a few dollars I believe in risk mitigation.

• 

  SS625 on 04/03/2021 - 16:13

  +1

  whats the advantage over shopback/cashback? those i dont need to wait until im like 65 to access the money

  • 

    avoidfullprice on 04/03/2021 - 17:37

    The business model probably would work better with microinvesting platform rather than super. However, both get eaten up by fees rather quickly if the cashback amount is not high.

  • 

    AssociatedBoost Your Super @ Boost Your Super on 04/03/2021 - 17:42

    -1

    You can either access a few dollars now or wait until it has had a chance to grow and compound with your super and be worth more when you do access it. In a way …. ice-cream cone now, or something more substantial waiting for you when you retire. Plus we are focused on helping our members to contribute more and have a Hacks for Your Super series email that you can learn from to retire with more.

    • 

      SS625 on 05/03/2021 - 08:41

      no im saying i get the cash now, i can use that money to invest just like how super does it …

  • 

    CacheHunter on 04/03/2021 - 19:40

    I'm not so worried about the age 65 requirement. The precedent has been set by allowing people to use super for covid.
    I'm expecting we will will see lots more similar schemes in future, for those of us with anything left in their super accounts.

• 

  Hakea73 on 05/03/2021 - 07:43

  Isn't it still an "ice cream", just an ice cream at futuristic prices?

  • 

    AssociatedBoost Your Super @ Boost Your Super on 05/03/2021 - 10:18

    In the future an ice-cream is likely to be more expensive due to inflation. However, money put into super over a long period compounds with other money that is already there and is invested as well. Super returns generally grow faster than inflation as per this article here which says returns "are still averaging almost 7% pa over the past 30 years, which is nearly 5% pa above the long-term inflation rate".

• 

  avoidfullprice on 05/03/2021 - 17:02

  Unless your cashback is higher than the actual cost of transaction, the result is just a discounted purchase (if tracked and honoured) rather than income/investment.

  Right now, it is more like store loyalty program, that we keep spending, and one day we can use it to spend on other stuff.

  If you actually want to help people save up for retirement, help people to find the lowest price of a product rather than buy at a particular store (Amazon in this example), where they might end up worse off. Like, be a broker for retail products, not tied to specific stores such as Amazon, and invest that commission into their super. Makes more sense with what you trying to achieve.