In life, the only constants are Taxes and Death.
It is the heart wrenching time of the year as we receive Notice of Assessment from IRAS.
My income taxes of ~$3.8k are due by 1 Jul 2024.
I have explored ways to earn miles through paying taxes using payment platforms such as CardUp, IPayMy or CitiPayall.
The lowest admin fee is 1.75% and I am unable to get the $30 new user discount as my accounts do not qualify as new user.
Effectively, I would be buying a mile for $0.014 if I use CardUp or ipaymy with Citibank Premiermiles card from incurring $60+ admin fee.
I decided to skip earning miles from tax payment this year. I will just pay off using Citibank Premiermiles card on AXS without any benefit, saving up $60+ from buying miles while enjoying deferred tax payment of 1 mth from the credit card cycle. In today's high interest rate environment, the yield from $3.8k for 1 mth at 3% p.a is around $10....