AmEx Statement Credits: Donate $70 or More to The Red Cross and Get $20 Back @ American Express

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Mr BoMBAStiG on 27/08/2024 - 17:03 americanexpress.com (157 clicks)
Last edited 27/08/2024 - 18:19 by 1 other user

Activate in AMEX app. Donate $70. Receive tax invoice. Add to ATO myDeductions app. Get back $20 to your AMEX card. Get back another ~$25 in your tax return next year.

After admin fees, salaries, taxes, forex, interest and other bs, Red Cross is probably only going to deliver $25 of real value to someone that needs it so this is a nice way to give $25 and actually get $25 worth of charity applied.

https://www.redcross.org.au/donate/

Note: Donations made through this offer with your registered American Express Card are not tax deductible in Australia as donors receive material benefit, namely American Express credit.

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• 

  bizzish on 27/08/2024 - 17:20

  -1

  Tax deductible too

  • 

    bemybubble on 27/08/2024 - 17:25

    -2

    Only the $50 though (assuming $70 donation)

    • 

      Mr BoMBAStiG on 27/08/2024 - 17:33

      +1

      You can definitely claim the $70 as that is what will be on the tax invoice. Amex are paying you $20 separately from the donation so it is fine to double dip here.

      • 

        argonide on 27/08/2024 - 17:40

        +15

        From T&Cs

        Donations made through this offer with your registered American Express Card are not tax deductible in Australia as donors receive material benefit, namely American Express credit.

        • 

          huu on 27/08/2024 - 17:57

          @argonide: Still donated $50, whats the benefit in that! 🙄 death and taxes indeed.

        • 

          Mr BoMBAStiG on 27/08/2024 - 18:22

          +11

          @argonide: Makes no sense.
          Red Cross has no idea about your Amex offer situation so will issue you with a receipt for a tax deductable amount of $70.
          The ATO also has no idea about your Amex offer situation.

          • 

            twistedbow on 27/08/2024 - 18:33

            +4

            @Mr BoMBAStiG: Unless redcross hands over name and dob of all the donors who donated using amex to ato. ato would then cross reference all those donors who claimed donation deduction and come knocking on their door. but we all know that ato has better things to do than to chase my ass for $70 donation.

            • 

              Mr BoMBAStiG on 27/08/2024 - 19:00

              @twistedbow: Then force you to hand over your Amex statements.

            • 

              Elyxar on 27/08/2024 - 21:54

              +1

              @twistedbow: ATO could probably get this info from the dark web after Red Cross gets hacked.

          • 

            happydude on 27/08/2024 - 18:50

            @Mr BoMBAStiG: The entire tax system largely works on an honour system.

        • 

          bluntman on 27/08/2024 - 18:23

          +3

          @argonide: I guarantee amex are gaining a tax benefit from this.

• 

  Exorcist on 27/08/2024 - 18:04

  +3

  Doesn’t make you question how much actually gets donated lol what a scam

• 

  happydude on 27/08/2024 - 18:48

  +8

  1 billion dollars a year in income. 82% of that from taxpayers.

  50% of the revenue spent on employees.

  There are very few charities I have faith in.

  https://www.acnc.gov.au/charity/charities/3474837c-38af-e811…

  • 

    Binchicken22 on 27/08/2024 - 18:50

    +4

    The only thing more inefficient than public services is charity "businesses". They are where dead weight go to congregate.

  • 

    daft009 on 27/08/2024 - 19:24

    +3

    yep!

    thats why we run our own.. 100% goes to our school and the teaching staff.
    also built some shops to rent out at the front of the school, 100% rent goes to the school
    all capital expenses funded by the extended family.
    no admin fees/salaries etc taken by us

    • 

      NoshTwin on 27/08/2024 - 23:15

      Nonprofits should not be judged based on whether or not they take salaries or spend on admin, they should be judged on their net impact.

      If a nonprofit is doing a lot of good, but spends a lot on salaries it might better than a nonprofit that is just doing okay but spends nothing on salaries.

  • 

    NoshTwin on 27/08/2024 - 23:11

    It turns out that in order to do things you need people to do them, who need to be paid.

    Isn’t the important question whether not the Red Cross employees’ labour is valuable and contributes to fulfilling their goals?

    That they spend 50% of their revenue on wages tells you nothing positive or negative on its own.

• 

  yuisakas on 27/08/2024 - 20:10

  So you give someone $50 for nothing you called its bargain?Why just give someone $2 makes you feel good at the station you can give out 25 times makes you 25*happy if you feel you are good people by donate

• 

  jrg on 27/08/2024 - 20:17

  +3

  I thought Ozbargain was for saving money, not giving it away for

• 

  capslock janitor on 27/08/2024 - 21:40

  i always seem to have this offer avilable . havent ever used it yet thho