Most airline and hotel programs have no set maximum as far as I am aware. Credit Cards have various maximum points (although nothing to do with the ATO)
If points are earned through private expenditure, there is no tax consequence (TD1999/34)
250,000 points is mentioned in one of the rulings as to whether things might be looked at a bit more closely.
i think being taxed on it is really unfair, though they haven't done it yet (not that I've read anyway)
I use my points from my business expenses so I can fly in J for my work trips, so I can fly out to my destination later (less time away from my business) and hit the ground running upon arrival and when I arrive back home I am back at work quicker, therefore reducing downtime due to jet lag.
I've increased my efficiency as I'm self employed and every hour in the day matters.
I run all my business expenses through amex or visa, in one year alone just on amex i earned 800k points and i had no issues. Many hospitality operators do this as they can earn over 20k a week just by paying suppliers.
I run all my business expenses through amex or visa, in one year alone just on amex i earned 800k points and i had no issues. Many hospitality operators do this as they can earn over 20k a week just by paying suppliers.
I'm curious - giving a lot of vendors charge a credit card surcharge does this really cost in financially? Or are the points on offer too good to resist?
Having said that I'm as guilty as anyone of paying with an Amex for the points when it would be cheaper/free to use a debit card :)
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How many points can you earn in one year?
olivergray
olivergray
Member since 31 Oct 2017
Total posts 2
Is there a limit to how many points an individual can earn? Is it true that over 250k it is taxable?
brinkers
brinkers
Qantas - Qantas Frequent Flyer
Member since 16 Jun 2011
Total posts 233
Most airline and hotel programs have no set maximum as far as I am aware. Credit Cards have various maximum points (although nothing to do with the ATO)
If points are earned through private expenditure, there is no tax consequence (TD1999/34)
250,000 points is mentioned in one of the rulings as to whether things might be looked at a bit more closely.
olivergray
olivergray
Member since 31 Oct 2017
Total posts 2
What if i were to pay my business expenses through my personal cc?
daft009
daft009
Member since 09 Jul 2016
Total posts 19
i think being taxed on it is really unfair, though they haven't done it yet (not that I've read anyway)
RussM
RussM
Qantas - Qantas Frequent Flyer
Member since 15 Sep 2018
Total posts 2
If points over 250k were taxed then maybe it would be arguable that any annual fees would be tax deductible.
mushmush
mushmush
Singapore Airlines - The PPS Club
Member since 14 Nov 2013
Total posts 40
I run all my business expenses through amex or visa, in one year alone just on amex i earned 800k points and i had no issues. Many hospitality operators do this as they can earn over 20k a week just by paying suppliers.
Theviewfrom1a
Theviewfrom1a
British Airways - Executive Club
Member since 06 Apr 2018
Total posts 8
I'm curious - giving a lot of vendors charge a credit card surcharge does this really cost in financially? Or are the points on offer too good to resist?