First Time Tax - Best Method?

[Kiwi_Guy]

Hi all,

Just got my first tax bill through (200k).

Looking through this forum it seems I can't use my Amex/SCB credit card to get miles, correct?

Any recommendations to try and get some sort of cashback or other benefit when paying the tax? I read something about HSBC credit card on here but that was from 2021.

Or nothing to be gained and just pay the bill?

Thanks :-)

[RobRoy]

Basically as an HSBC customer you will get a text message each year around tax paying season saying if you pay with CC you can get a smallish points gain. It's not as big as the number of points you normally would earn from paying 200k HKD. And usually for me at least the bonus only counts up to the first 100k HKD or so.

[Kiwi_Guy]

Okay, thanks.

I bank with HSBC but don't have a credit card with them currently.

Do you think the points are worth getting the card for considering the amount of tax?

Thanks

[aw451]

Iirc the cashback rate is usually 0.5% on up to 100k of the balance but it varies from year or year

[calmathetic9]

Get the earnmore credit card and link to WeChat pay. They’re on, tax payment is capped at 50K per month so you need to plan it out. 1% rebate after fees.

[freeier]

Look around the forum there were a few threads on how to pay tax. Is your tax deadline April this year or January next year ? If its Jan/Apr next year then i suggest you look at logan's method of using Octopus e-wallet payment.. tough work as you need to swipe the card every day for a year, but you do get 1.5%~2.0% rebate for up to 100k HKD.

As for the remaining amount, at this stage most of the banks credit card offer have ended. They usually offer those from September onwards.. some banks end their offer by December, some are extended to Feb/March. Have to keep track what's available. Most of those are decent giving you around 0.2~0.4% rebate on up to a certain amount of payment. If you are not too busy and enjoy the optimization then just collect a few offers and split them optimically.

But long gone were the days when they give you full asia miles for the 200k tax payment.. Many credit card companies likely got burnt for them since those mileages cost quite alot.

[Kiwi_Guy]

Look around the forum there were a few threads on how to pay tax. Is your tax deadline April this year or January next year ? If its Jan/Apr next year then i suggest you look at logan's method of using Octopus e-wallet payment.. tough work as you need to swipe the card every day for a year, but you do get 1.5%~2.0% rebate for up to 100k HKD.

As for the remaining amount, at this stage most of the banks credit card offer have ended. They usually offer those from September onwards.. some banks end their offer by December, some are extended to Feb/March. Have to keep track what's available. Most of those are decent giving you around 0.2~0.4% rebate on up to a certain amount of payment. If you are not too busy and enjoy the optimization then just collect a few offers and split them optimically.

But long gone were the days when they give you full asia miles for the 200k tax payment.. Many credit card companies likely got burnt for them since those mileages cost quite alot.

Thanks, yeah, I saw that but I need to pay by 10th May :-/
I guess it's because it's my first tax bill it has strange timings as I only got notified recently.

Makes sense on the miles but a shame! :-)

[shri]

(I need new glasses or spend more time in a relatively developed society.. keep reading the title as "First time fax - Best Method" )