[SIC] best CC for IRAS income tax payment

[arctician]

based on advice of bro here, i think anz signature works best for CC payment..1.8% cashback

lets take the following scenario

if you pay income tax of $3000 using anz signature, 0.7% processing fee = $21

every dollar exchange for 1.4miles and $3000x 1.4-= 4200 miles with ur anz signature

every 275 miles exchange $5 so total rebate = 4200/275 *5 = $76

nett nett you gain around $55..which is around 1.8% of the income tax amt

I think his is the best deal for IRAS CC payment, any experts pls correct me if i am wrong

 

[sgbanking]

based on advice of bro here, i think anz signature works best for CC payment..1.8% cashback

lets take the following scenario

if you pay income tax of $3000 using anz signature, 0.7% processing fee = $21

every dollar exchange for 1.4miles and $3000x 1.4-= 4200 miles with ur anz signature

every 275 miles exchange $5 so total rebate = 4200/275 *5 = $76

nett nett you gain around $55..which is around 1.8% of the income tax amt

I think his is the best deal for IRAS CC payment, any experts pls correct me if i am wrong

plus, if you are signing up for the new cards, you gonna enjoy $50 cash credit + 2000 bonus miles (requirement: 500 spending within 30 days).

 

[jingle_babble]

Wow looks complicated.....

https://sg.anz.com/ANZPrivileges/promotion-income-tax.jsp

Look like miles only get 2 miles per $5?

And rebates must be accompany with spending other than tax payment.....?

 

[arctician]

Wow looks complicated.....

https://sg.anz.com/ANZPrivileges/promotion-income-tax.jsp

Look like miles only get 2 miles per $5?

And rebates must be accompany with spending other than tax payment.....?

you are looking at general anz platinum card

look at the folliwng anz signature card..its explicitly stated 1.4 miles for all other spend, and conversion is 275 miles for $5 for anz signature card

https://www.anz.com/singapore/en/Personal/credit-cards/travel-card/?pid=crc-pbr-ad-hp-oct12-travelcards

 

[starbugs]

The way I look at it, for a small 1.8% gain, perhaps it would be better to pay IRAS in cash over 12 GIRO installments.

The extra cash on hand, put into some reits or high dividend stocks

 

[anfielder]

The way I look at it, for a small 1.8% gain, perhaps it would be better to pay IRAS in cash over 12 GIRO installments.

The extra cash on hand, put into some reits or high dividend stocks

For this payment plan you are still paying by GIRO but ANZ credits the installment amount into your bank account each month

 

[NightWish_]

anyone actually tried it? dont understand the website...

 

[MoDiE]

$0 income tax for me this year. and at least the next year also..

 

[invisible999]

$0 income tax for me this year. and at least the next year also..

Who is paying your bills?

 

[rotiboyz]

MoDie got alot of kids and elderly parents for relief ?

 

[purpletoysmum]

MoDie got alot of kids and elderly parents for relief ?

Could be running own business. After deduction of expenses and paying "employees", have allocated just enough income to self so that income tax liability is zero.

 

[socketer]

Who is paying your bills?

Maybe employed overseas?

 

[invisible999]

Maybe employed overseas?

Sigh... we Americans pay both SIN and US tax as well...

 

[MoDiE]

MoDie got alot of kids and elderly parents for relief ?

actually only 1 kid.. 1 kid is enough to not pay any tax..

kid relief 4000 plus rebate of 5000.. so 5000 rebate can last me at least 2 years no need pay tax

 

[taediumv]

But Anz website says offer only up till April 2014. Maybe this year tax cannot use already?

 

[arctician]

But Anz website says offer only up till April 2014. Maybe this year tax cannot use already?

i download the form and T&C states under point 3 "This Facility is valid only for the tax chargeable to Year of Assessment 2013 onwards:"

our tax this year is for year of assessment 2013 right? so definitely can use leh..

the april 2014 offer refers to those who want to get a full waiver of their 0.7% processing charge..and u have to spend from may 2013-april 2014..for those who are paying 0.7% admin fee no timeline i think

i still believe this is the best card for income tax payment with 1.8% cashback


https://sg.anz.com/ANZPrivileges/pdf/ANZ-Income-Tax-Payment-Form.pdf

 

[carey]

And if one's taxes is S$20k - how much would be the cashback?

 

[arctician]

And if one's taxes is S$20k - how much would be the cashback?

1.8% of 20k..360

 

[taediumv]

Thanks for the clarification!

 

[carey]

1.8% of 20k..360

Then minus 140 upfront and in the end is 220

Worth the trouble?