Best Credit Card for Paying Taxes

[pin]

For bills CCB JD via Alipay.

[freeier]

Bills and tax are two different things. Generally for quite alot of people the tax amount is large and banks usually excludes them from rebate/reward schemes.

Wait for the new offers on tax to come about later this year. The offers are very bleak these last two years. We used to see 500/800/1000 being thrown around for credit card payment but that has shrinked alot.. and usually its now limited to specific card or they offer you free credit on the amount over six months or so.

Last 2 years I ended up taking up the HSBC offer on tax payment.
But i think Logan's description on using Octopus Wallet to pay tax might be the best choice.. can get up to 2% off for 100k payment.

[LoganH]

Logan's description on using Octopus Wallet to pay tax might be the best choice.. can get up to 2% off for 100k payment.

It's actually 2% up to 200,000HKD per year. So if your time isn't that valuable to you and you want to play you can in theory get up to 4,000HKD in cashback paying the IRD 200k, but it's not simple and it requires patience and months of opening the octopus app most days and transferring your remaining balance to your octopus wallet and eventually transferring it out to the IRD in up to 10k increments at a time.

PrimeCredit's UnionPay EarnMore card always earns at least 1% on all transactions, and they've continually renewed their bonus 1% offer each calendar year. There is a 2,000HKD cashback cap on the bonus 1% each calendar year. My wife and I haven't personally managed to use 200k through Octopus AAVS with our two personalized Octopus cards linked to the EarnMore card via AAVS in 2021 yet, but I have spent over 100k (mainly commuting, food, and wherever octopus is taken plus the AAVS octopus wallet game that I enjoy playing). If I do manage to get close moving 200k around, I plan to get another EarnMore card (one for myself and one for my wife) and try to make that work with maybe additional octopus cards that I only use for playing this AAVS octopus wallet game (I'm not there yet).

[freeier]

Ran thru the latest offering, and indeed a few banks started offering $$ for using their system or credit card to pay tax

HSBC --> as usual, up to 400$ for tax payment by selected customer of up to 100k plus card spending of 6k or more before end Feb (or march).

BOC --> up to 300$ of cash reward for payment of tax before end Dec 21.

Citibank --> up to 700$ of welcome vouchers if you pay tax using their Citi-payall module, but I think you might be able to pick the 'no reward' part of the payall module so you don't get additional reward, no cost, and still enjoys the 700$.

DBS --> up to 300 or 400$ if you pay by online banking.

[Paxbritannia]

Ran thru the latest offering, and indeed a few banks started offering $$ for using their system or credit card to pay tax

HSBC --> as usual, up to 400$ for tax payment by selected customer of up to 100k plus card spending of 6k or more before end Feb (or march).

BOC --> up to 300$ of cash reward for payment of tax before end Dec 21.

Citibank --> up to 700$ of welcome vouchers if you pay tax using their Citi-payall module, but I think you might be able to pick the 'no reward' part of the payall module so you don't get additional reward, no cost, and still enjoys the 700$.

DBS --> up to 300 or 400$ if you pay by online banking.

Thanks. Depending on thresholds I might look at spreading among multiple payment portals to maximise cashback.

[D.YU]

Thanks. Depending on thresholds I might look at spreading among multiple payment portals to maximise cashback.

Is it feasible to pay the taxes through multiple sources? I never tried paying tax with CC's before. My tax is around 100k... so 10 different cc/sources at $10k each? lol

[freeier]

Is it feasible to pay the taxes through multiple sources? I never tried paying tax with CC's before. My tax is around 100k... so 10 different cc/sources at $10k each? lol

no issues. you can even pay every month 10k via the octopus wallet (see loganH's instruction in other threads). banks won't know how much you need to pay..

just be sure:
1. not all bill payment from credit card are free. they need to have this option for you to pay tax at no cost (since tax are treated as statutory payment and in the past credit cards have put statutory payment as a drawing down of credit facilities, aka cash withdrawal).

2. if cards allow one to pay tax with no charges, then you don't get the reward as well.. outside of what is specially created for income tax payments

[redslert]

Can't seem to find any promo from HSBC this year.
Anyone?

[aw451]

Can't seem to find any promo from HSBC this year.
Anyone?

The promotion vthis year isn't so good but they emailed it to "select customers". I think it's linked to the Premier MasterCard

[freeier]

Can't seem to find any promo from HSBC this year.
Anyone?

annually they send it to 'selected' customers. how they select i have no idea because i get selected even though i don't use their card that much..

mine is the visa signature...