Author Topic: Interesting new proposed law.  (Read 1239 times)

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Offline YSS

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Interesting new proposed law.
« on: August 07, 2019, 09:09:59 AM »
What we dreaded for some time is now about to com through the back door . This is official and not created by people running around wearing tin hats.What impact will this have ?
https://www.treasury.gov.au/consultation/c2019-t395788?fbclid=IwAR2JS1HSq9qfwPQy-kb9ZCcXkRbQ7daM6V776IzBnKEWQ4voAGWyb3P0TNU 
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Offline skypig

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Re: Interesting new proposed law.
« Reply #1 on: August 07, 2019, 09:34:01 AM »
Just part of the Dystopian future the government has planned for us :(

Part of the preparation for “negative interest rates”. - The banks charging us to “look after” our money.

Most of us wouldn’t pay, just take the money home..... If we were “allowed” to.

Offline 80-85 husky

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Re: Interesting new proposed law.
« Reply #2 on: August 07, 2019, 11:27:50 AM »
just looking to grab druggies paying 100k cash for a porche

Offline YSS

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Re: Interesting new proposed law.
« Reply #3 on: August 07, 2019, 01:09:59 PM »
just looking to grab druggies paying 100k cash for a porche

I reckon thats exactly the type of  spin they will use, to sneak this through.  Imagine when you will sell your collection , you have to add GST and capital gains . Well done .  :o
YSS shocks , I don't just sell them - I designed and make them individually for you since 1989

Offline Slakewell

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Re: Interesting new proposed law.
« Reply #4 on: August 08, 2019, 07:39:33 AM »
The big banks have a lot of influence. There current business model is not looking good so they are pressuring the government to implement something dumb like this and if it gets worse they will make it even less. If nobody keeps their money in the bank because they are charging you to keep it there , then they have none to lend. Not sure how the government can do this and I like to see legal testing as cash is still legal tender and sort of making it illegal is confusing, Then you have the other problem of people stop using the AUS$ and start using US$ or even YEN$ for cash transactions which could even make the problem worse. Again another bad idea from this government to help prop up big business at our expense.
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Offline FAT-TOY

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Re: Interesting new proposed law.
« Reply #5 on: August 08, 2019, 10:49:57 AM »

   Under current Federal legislation, all Australian banks are required to report cash transactions of $10,000 or more (or foreign equivalent), including details of the relevant account holders, to the regulator, the Australian Transaction Reports and Analysis Centre (AUSTRAC).
  This already allows the government to know if a drug seller is spending $120k on a new porche.  This new law has only one purpose and that is to look after the banks and so ensure their financial support for the Liberals.  I think the recent enquiry into the banks, where they (the banks) were allowed to tell us what questions they wanted to be asked and even then the bastards were found to be corrupt. 
    Question, have any of these cheating, lying banking arseholes been gaoled or even charged with any of the offences that were found during this inquiry, probably not.
    I don't think the other party is much better. So this to me is not a Liberal, Labor thing it's a case of right and wrong.

      Zane
Everyday I find one more name to add to the list of people who piss me off.

Offline YSS

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Re: Interesting new proposed law.
« Reply #6 on: August 08, 2019, 02:33:39 PM »
When that goes trough , I predict cash notes will be gone within 5 years. This will open all the doors for big brother . Our accounts and currency can then be manipulated with just a stroke on the keyboard and there is nothing you can do about it . We better get ready for a nice fleecing soon .
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Offline Slakewell

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Re: Interesting new proposed law.
« Reply #7 on: August 12, 2019, 06:00:57 PM »
When that goes trough , I predict cash notes will be gone within 5 years. This will open all the doors for big brother . Our accounts and currency can then be manipulated with just a stroke on the keyboard and there is nothing you can do about it . We better get ready for a nice fleecing soon .

People normally find a way to get around these efforts of Guberment and have done for hundreds of years. People simply use another currency or even change to crypto currency or even go back to gold if it's really bad. No doubt you have gold bars beside the tin foil hat.
Current bikes. KTM MC 250 77 Husky CR 360 77, Husky 82 420 Auto Bitsa XR 200 project. Dont need a pickle just need to ride my motorcickle

Offline djr

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Re: Interesting new proposed law.
« Reply #8 on: August 13, 2019, 03:32:45 AM »
where there are similar laws in other countries i expect you see a lot of receipts / invoices etc. for $9999

you want $19.000 for your bike ,
 you sell the bike for $9500 cash and the "spares" { that probably dont exist } in a seperate transaction for $9500 cash

Offline YSS

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Re: Interesting new proposed law.
« Reply #9 on: August 13, 2019, 08:02:32 AM »
Yes that is a possibility for now . But what will you be doing with the cash ? You are not allowed to own more than 10K in notes (for now ) . Like in Europe where nobody will take a 200Euro note anymore .There , if you have more than 200Euro in your pocket , you are deemed a criminal till you can proof otherwise and cash will be forfeited.If you want bank a 200Euro note , you have to prove where it cam from , the shops or pub will not take them .... and that has been now for the last 3 years.As to wearing tin hats Snakewell , they are called helmets and the governments in the old western world have just increased their budgets dramatically to buy many more of them . For what ?
YSS shocks , I don't just sell them - I designed and make them individually for you since 1989

Offline Slakewell

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Re: Interesting new proposed law.
« Reply #10 on: August 14, 2019, 08:09:58 AM »
I have a mate who owns hundreds of vending machines , he has now changed most of them over to card only just because of the hassle of dealing with cash. His local Bank refused to take his daily takings and asked him to pay for a guard when he dropped of his takings this lead to garage being full of cash. Banks and Guberments don't like cash.
Current bikes. KTM MC 250 77 Husky CR 360 77, Husky 82 420 Auto Bitsa XR 200 project. Dont need a pickle just need to ride my motorcickle

Offline Dungar Pilot

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Re: Interesting new proposed law.
« Reply #11 on: August 14, 2019, 10:05:43 AM »
You are not allowed to own more than 10K in notes (for now ) . Like in Europe where nobody will take a 200Euro note anymore .There , if you have more than 200Euro in your pocket , you are deemed a criminal till you can proof otherwise and cash will be forfeited.
Europe is a fairly big place, can you be a little more specific?
Suppose I might have to start a collection of €200 notes if no one wants them!

Offline YSS

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Re: Interesting new proposed law.
« Reply #12 on: August 14, 2019, 11:14:38 AM »
That was about 3 years ago in Holland . They told me about then and I couldn't believe it .Being me I wanted to see that for myself. I asked my friend to pull in at the service station and I filled his car up . Went inside and handed them a 200 Note saying that's all I hade. They called the manager and he threatened to call the cops.I thought being a tourist they might let it slip. They then explained to me they could not bank the note without a proven trail . My friend then came to the rescue with his plastic card and said ," I told you so, this is how f....ed Europe has become. I was devastated to see this , being a hard cash man all my life. And now they are starting here..... I am glad I am old and on my honorary lap.What other options are there?
YSS shocks , I don't just sell them - I designed and make them individually for you since 1989

Offline Butcher

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Re: Interesting new proposed law.
« Reply #13 on: August 15, 2019, 08:02:08 PM »
i went to a ktm dealer about 2 months ago, they had a table with discounted items. I bought something for$115. He refused to accept cash. He told me "Its too hard, staff can steel it, and my wife has to take it to the bank which takes  her 40 minutes." The world has gone mad......

Offline LWC82PE

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Re: Interesting new proposed law.
« Reply #14 on: August 15, 2019, 11:33:06 PM »
Yeah and card transactions cost money. They cost someone money somewhere. if there is no surcharge fee that means that the merchant wears it, but dont think that means you still dont pay ;). They quietly put the prices up of all items in the store by a small %  to factor in this card transaction fee from the ever increasing amount of people only using cards these days, so ultimately everyone pays this fee as its built into the costs of the items. So even if you buy with cash your really still paying the card fee. Businesses just ain't going to wear the fee so this is what they can do. Cards transactions cost everyone.  I much prefer cash.


Quote
and my wife has to take it to the bank which takes  her 40 minutes."
what is it with people becoming so lazy these days >:(
« Last Edit: August 15, 2019, 11:37:38 PM by LWC82PE »
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