Do you dread making those tax payments? You’re not alone! According to the Australian Taxation Office (ATO), the company tax rate ranges from 27.5% to 30%, making tax bills one of the largest expenses for Australian businesses. As a business owner, if you’re obligated to make substantial payments to the ATO, wouldn’t it be great if you were to earn credit card or Qantas points along the way?
Traditionally, making tax payments have been limited to cash, cheque and credit card. B2Bpay provides the opportunity for business owners to make their substantial ATO payments with ease and to also generate credit card and Qantas points.
Below we will examine what the current options are for making ATO payments, and the solutions and benefits that B2Bpay provides.
What are the payment options for tax bills?
There are several options in making payments to the ATO. Before making payment, it is important to do some research to see which option works best for your business. Here is some useful information to help make the decision easier:
1. Make the ATO payment by bank transfer or BPAY directory with the ATO
While there is no additional costs involved, there are no credit card or Qantas Points earned.
2. Make the ATO payment with a credit card directly with the ATO
A credit processing fee is charged by the ATO and depending on which credit card you are using, you will earn either reduced points or no credit card or Qantas Points at all.
3. Make the ATO payment with a credit card through B2Bpay
B2Bpay allows you to earn full points on ATO transactions.
There is a credit processing fee when using B2Bpay. Charges range from 1.2% to 2.4% excluding GST (or 0.84% to 1.64% after eligible company tax deduction) depending on your card type.
Comparing against the benefits of earning full credit card and Qantas points easily outweigh the credit processing fee.
What is B2Bpay?
B2BPay is a third party payment platform that allows businesses to pay all expenses online through any card.
Once registered, you simply set up your payments by selecting your billers and nominate your credit card(s) for payments. Payments can be made as a one-off, automatic or future dated. Then, leave the rest to us. We will transfer funds to your billers at no cost to them within 3 business days.
Benefits of B2Bpay
Alongside the opportunity of earning full credit card and Qantas points, B2Bpay offers other great business benefits to manage and pay business expenses.
B2Bpay enables business owners to access the credit card interest free period for expenses that may have otherwise been paid for using cash, cheque or direct debit.
When compared to traditional payment methods, B2Bpay provides a digital and credit card payment service that is more cost effective because of reduced use of paper based processing, administration work, approval overheads and banking costs.
Saves time and easy to use
Cutting out unnecessary administration work out of your busy day, B2Bpay manages and pays all your business expenses online via a centralised expense management system.
Secure and flexible online solution
When utilising B2Bpay, cards are tokenised for security, meaning your credit card information is never stored in full. Unlike traditional payment methods like cash and cheque, you can make payments from any device, even by email. Completely secure and safe.
B2Bpay: Maximising the benefits in making ATO payments
Taxes are simply a business expense that can’t be avoided. While that may be the case, B2Bpay is a fully automated, secure and flexible solution that allows you to make those substantial tax payments while still keeping your business profitable by earning full credit card and Qantas points.
Click HERE to register to start using B2Bpay today. Have questions or need help setting up? Feel free to speak to one of our friendly specialists in Sydney on 1300 205 575.