- simonkwMember@simonkwJoin Date: 2011Post Count: 2
I am in a dilemma whether should I use my personal credit cards to pay my IP rates (thereby earning points) or to just let my PM pays the rates (thereby saving the hassle of of paying it myself and receiving a nice statement at the end of the year. What do you guys do?
Also will IP rates mingling with personal expenses cause further headache? I think I read somewhere that the rates being paid that way may be consider personal and thereby losing the tax duductibility.
Any comments?TerrywParticipant@terrywJoin Date: 2001Post Count: 16,213Jamie MooreParticipant@jamie-mJoin Date: 2010Post Count: 5,069
Agree with Terry – get your points where you can. After a couple of years you'll be able to get a new toaster
No, I'm joking – we usually use our points once every year or two to fund part of a holiday (flights, etc)
JamiePLCParticipant@plcJoin Date: 2012Post Count: 400
Yep, an expense is an expense, and it doesn't matter with what funds it's paid with. It's when you try to claim any interest that might be associated with the expense that will need scrutinising.
TomDAMPropertyParticipant@dampropertyJoin Date: 2011Post Count: 44Mick CParticipant@shapeJoin Date: 2010Post Count: 1,099simonkwMember@simonkwJoin Date: 2011Post Count: 2
Thanks everyone for the comments. I'll go with credit card then.
I have 2 credit cards – Coles (no fee) and the Woolies credit card which I call them yearly to ask them to waive the annual fee. I always pay off my credit card on time. Given any sort of fee as oppose to collecting points, my mantra is saving on hard-earned cash is better than any reward points. Reward points is a bonus.