I have an ATO payment due soon of approx $50k. As much as it always hurts to part with it, it needs to be done. I was hoping I could at least get creative to try to benefit in some way from the transaction.
I currently have the Westpac Altitude Black cards (amex & mc) and according to the Point Hacks card table ATO earn for that card is only “0.5x on Amex only”.
On top of that the ATO card payment fee is 1.45%.
This ultimately only gets me Altitude points which when converted to Velocity gets me 1.25pts / $ (on amex).
My unconfident calculation is:
$50,000 * 1.25 velocity points * 0.5 reduced ATO earn = 31,250 velocity points
$50,000 * 1.45% ATO card fee = $725
ie. paying an extra $725 on top of the $50k for 31,250 velocity points.
I realise the glory days of ATO earn might be over, are there any other recommended approaches? Other cards? Other non points related benefits from a $50k transaction?
Appreciate any tips and advice.