Australian Politics Forum

Valkie

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Australian Politics

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Central Coast
Gender: male

Re: cash limit
Reply #45 - Aug 7^th, 2019 at 5:38am

I wonder how long it will be before the grubberment dictates exactly WHAT we can spend our money on?

"Oh no, you don't need that new TV, so you will be fined for buying it"

"Nip, that overseas holiday, is not considered acceptable"

"Sorry, that operation is not in the public's best interest, you are too old to wast resources on keeping you alive"

The grubberment is getting bolder and bolder every day.
Big brother is here in a big way.
They invade our lives with great abandon
They twist our children's minds with twisted agenda.
They make up laws and rules, knowing that it's near impossible to comply all the time, simply to rape our finances.

The grubberment must go.
They are the true criminals.

BRING ON TGE REVOLUTION

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I HAVE A DREAM
A WONDERFUL, PEACEFUL, BEAUTIFUL DREAM.
A DREAM OF A WORLD THAT HAS NEVER KNOWN ISLAM
A DREAM OF A WORLD FREE FROM THE HORRORS OF ISLAM.

SUCH A WONDERFUL DREAM
O HOW I WISH IT WERE TRU

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Bobby.

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Melbourne
Gender: male

Re: cash limit
Reply #46 - Aug 7^th, 2019 at 6:31am

rhino wrote on Aug 6^th, 2019 at 10:12pm:

Bobby. wrote on Aug 6^th, 2019 at 10:09pm:

rhino wrote on Aug 6^th, 2019 at 10:07pm:

Criminals will just utilise other methods to trade. This will also drive the use of virtual currencies like bitcoin and increase drug trafficking as a result.

The criminals will always find a way.

You will never stop black marketing. The government wants control over every cent we spend so they can tax it. f em.

Our Govt. is desperate.
Every day we go into more and more debt -
measured in $billions.

National Govt. debt is now $710 billion.

Total Australian debt $7.2 trillion.

https://australiandebtclock.com.au/

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greggerypeccary

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Re: cash limit
Reply #47 - Aug 7^th, 2019 at 6:57am

Bam wrote on Aug 6^th, 2019 at 10:08pm:

Bobby. wrote on Aug 6^th, 2019 at 9:51pm:

Is it time to move your money to a foreign bank?

Will there be a huge exodus of money?

People will start doing domestic transactions in foreign currencies.

"For the purposes of this Act, the value in Australian currency of an amount of cash paid in foreign currency or digital currency is to be worked out in accordance with the method prescribed, by legislative instrument, by the Minister".

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Sir Spot of Borg

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WE ARE BORG

Posts: 26460
Australia

Re: cash limit
Reply #48 - Aug 7^th, 2019 at 8:01am

greggerypeccary wrote on Aug 6^th, 2019 at 7:18pm:

Bobby. wrote on Aug 6^th, 2019 at 7:13pm:

Sir Spot of Borg wrote on Aug 6^th, 2019 at 4:40pm:

i ran across this - apparently they are trying to get it through parliament now?

https://www.treasury.gov.au/consultation/c2019-t395788

theres a page in there about how individuals cant transfer more than 10k either thats cash or electronic - so much for loaning gramma 15k

Spot

It says cash NOT electronic.

Buy some spectacles.

Apologise to Spot, Bobby.

Here's a tip, from someone who reads legislation for a living: ALWAYS read the 'Definitions' clause in an Act FIRST.

From the Act in question:

"cash means either or both of the following:
"8 (a) digital currency;
"9 (b) physical currency."

https://www.treasury.gov.au/sites/default/files/2019-07/Exposure%20draft%20-%20C...

Yeah thats where I got it from

Spot

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Whaaaaaah!
I'm a
Moron!

- edited by some unethical admin - you think its funny? - its a slippery slope

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Sir Spot of Borg

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WE ARE BORG

Posts: 26460
Australia

Re: cash limit
Reply #49 - Aug 7^th, 2019 at 8:04am

greggerypeccary wrote on Aug 6^th, 2019 at 7:34pm:

Bobby. wrote on Aug 6^th, 2019 at 7:24pm:

greggerypeccary wrote on Aug 6^th, 2019 at 7:18pm:

Bobby. wrote on Aug 6^th, 2019 at 7:13pm:

Sir Spot of Borg wrote on Aug 6^th, 2019 at 4:40pm:

i ran across this - apparently they are trying to get it through parliament now?

https://www.treasury.gov.au/consultation/c2019-t395788

theres a page in there about how individuals cant transfer more than 10k either thats cash or electronic - so much for loaning gramma 15k

Spot

It says cash NOT electronic.

Buy some spectacles.

Apologise to Spot, Bobby.

Here's a tip, from someone who reads legislation for a living: ALWAYS read the 'Definitions' clause in an Act FIRST.

From the Act in question:

"cash means either or both of the following:
"8 (a) digital currency;
"9 (b) physical currency."

https://www.treasury.gov.au/sites/default/files/2019-07/Exposure%20draft%20-%20C...

Yes - that says:
6Definitions
5In this Act
:6cashmeans either or both of the following:
7(a)digital currency;8(b)physical currency

Spot - my apologies - I'm the one who needs new spectacles.

How does that work?

How could you buy a car or a house or anything worth more than $10K
I don't understand it.

Hang on, I think "digital currency" means things like Bitcoin.

Not the same as "electronic payment".

"In the 2018-19 Budget, the Government announced it would introduce an economy-wide cash payment limit of $10,000 for payments made or accepted by businesses for goods and services.

"Transactions equal to, or in excess of this amount would need to be made using the electronic payment system or by cheque."

Makes sense now.

Yeah I dunno i tried to electronic payment 20k last year and got flagged and they froze my account and wanted to know what i was doing

Spot

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Whaaaaaah!
I'm a
Moron!

- edited by some unethical admin - you think its funny? - its a slippery slope

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greggerypeccary

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Gender: male

Re: cash limit
Reply #50 - Aug 7^th, 2019 at 9:48am

Bobby. wrote on Aug 7^th, 2019 at 6:31am:

rhino wrote on Aug 6^th, 2019 at 10:12pm:

Bobby. wrote on Aug 6^th, 2019 at 10:09pm:

rhino wrote on Aug 6^th, 2019 at 10:07pm:

Criminals will just utilise other methods to trade. This will also drive the use of virtual currencies like bitcoin and increase drug trafficking as a result.

The criminals will always find a way.

You will never stop black marketing. The government wants control over every cent we spend so they can tax it. f em.

Our Govt. is desperate.
Every day we go into more and more debt -
measured in $billions.

National Govt. debt is now $710 billion.

Total Australian debt $7.2 trillion.

https://australiandebtclock.com.au/

That's what happens when you put a happy clapping clown in charge of the country.

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Bobby.

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Australian Politics

Posts: 95653
Melbourne
Gender: male

Re: cash limit
Reply #51 - Aug 7^th, 2019 at 10:07am

greggerypeccary wrote on Aug 7^th, 2019 at 9:48am:

Bobby. wrote on Aug 7^th, 2019 at 6:31am:

rhino wrote on Aug 6^th, 2019 at 10:12pm:

Bobby. wrote on Aug 6^th, 2019 at 10:09pm:

rhino wrote on Aug 6^th, 2019 at 10:07pm:

Criminals will just utilise other methods to trade. This will also drive the use of virtual currencies like bitcoin and increase drug trafficking as a result.

The criminals will always find a way.

You will never stop black marketing. The government wants control over every cent we spend so they can tax it. f em.

Our Govt. is desperate.
Every day we go into more and more debt -
measured in $billions.

National Govt. debt is now $710 billion.

Total Australian debt $7.2 trillion.

https://australiandebtclock.com.au/

That's what happens when you put a happy clapping clown in charge of the country.

https://theaimn.com/wp-content/uploads/2019/04/Morrison-e1555989508493.jpeg

It started under Labor but the Libbos
tripled it - nearly quadrupled it!

If they tried to pay off say $100 billion
per year to pay it off in 7 years it
would collapse our economy.

It will be $1 trillion soon.
There is no answer.

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greggerypeccary

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Australian Politics

Posts: 131671
Gender: male

Re: cash limit
Reply #52 - Aug 7^th, 2019 at 10:12am

Bobby. wrote on Aug 7^th, 2019 at 10:07am:

greggerypeccary wrote on Aug 7^th, 2019 at 9:48am:

Bobby. wrote on Aug 7^th, 2019 at 6:31am:

rhino wrote on Aug 6^th, 2019 at 10:12pm:

Bobby. wrote on Aug 6^th, 2019 at 10:09pm:

rhino wrote on Aug 6^th, 2019 at 10:07pm:

Criminals will just utilise other methods to trade. This will also drive the use of virtual currencies like bitcoin and increase drug trafficking as a result.

The criminals will always find a way.

You will never stop black marketing. The government wants control over every cent we spend so they can tax it. f em.

Our Govt. is desperate.
Every day we go into more and more debt -
measured in $billions.

National Govt. debt is now $710 billion.

Total Australian debt $7.2 trillion.

https://australiandebtclock.com.au/

That's what happens when you put a happy clapping clown in charge of the country.

https://theaimn.com/wp-content/uploads/2019/04/Morrison-e1555989508493.jpeg

It started under Labor but the Libbos
tripled it - nearly quadrupled it!

If they tried to pay off say $100 billion
per year to pay it off in 7 years it
would collapse our economy.

It will be $1 trillion soon.
There is no answer.

We need Paul Keating back in The Lodge.

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juliar Gold Member Offline Australian Politics Posts: 22966	Re: cash limit Reply #53 - Aug 7^th, 2019 at 10:23am How do the Chinese make their illegal donations to the Labor Party ? There was mention of bags of cash. ICAC is looking at this right now. How will the Casino pay its rare winnings to a customer ?
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minarchist

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Australian Politics

Posts: 529
Gender: male

Re: cash limit
Reply #54 - Aug 7^th, 2019 at 10:25am

Bias_2012 wrote on Aug 6^th, 2019 at 11:05pm:

We (the Liberal Party) Believe:

"In the inalienable rights and freedoms of all peoples; and we work towards a lean government that minimises interference in our daily lives; and maximises individual and private sector initiative"

"In government that nurtures and encourages its citizens through incentive, rather than putting limits on people through the punishing disincentives of burdensome taxes and the stifling structures of Labor's corporate state and bureaucratic red tape."
https://www.liberal.org.au/our-beliefs

Sounds more like the core beliefs of the Liberal Democrats rather than the modern Liberal Party.

Regarding the thread, I'm essentially a Libertarian and I don't see the fuss in imposing this limit. How many of you can honestly foresee a point in the future where you want to make a cash transaction in excess of $10,000? And even if you wanted to, you're probably not going to get in trouble unless someone observing the transaction reports you.

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People accuse Capitalism of being a "dog eat dog" system, yet it was the Communists who ate each other when they were starving!

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greggerypeccary Gold Member Offline Australian Politics Posts: 131671 Gender:	Re: cash limit Reply #55 - Aug 7^th, 2019 at 10:30am juliar wrote on Aug 7^th, 2019 at 10:23am: How do the Chinese make their illegal donations to the Labor Party ? Easy.
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rhino

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Australian Politics

Posts: 17179
Gender: male

Re: cash limit
Reply #56 - Aug 7^th, 2019 at 10:36am

greggerypeccary wrote on Aug 7^th, 2019 at 10:12am:

Bobby. wrote on Aug 7^th, 2019 at 10:07am:

greggerypeccary wrote on Aug 7^th, 2019 at 9:48am:

Bobby. wrote on Aug 7^th, 2019 at 6:31am:

rhino wrote on Aug 6^th, 2019 at 10:12pm:

Bobby. wrote on Aug 6^th, 2019 at 10:09pm:

rhino wrote on Aug 6^th, 2019 at 10:07pm:

Criminals will just utilise other methods to trade. This will also drive the use of virtual currencies like bitcoin and increase drug trafficking as a result.

The criminals will always find a way.

You will never stop black marketing. The government wants control over every cent we spend so they can tax it. f em.

Our Govt. is desperate.
Every day we go into more and more debt -
measured in $billions.

National Govt. debt is now $710 billion.

Total Australian debt $7.2 trillion.

https://australiandebtclock.com.au/

That's what happens when you put a happy clapping clown in charge of the country.

https://theaimn.com/wp-content/uploads/2019/04/Morrison-e1555989508493.jpeg

It started under Labor but the Libbos
tripled it - nearly quadrupled it!

If they tried to pay off say $100 billion
per year to pay it off in 7 years it
would collapse our economy.

It will be $1 trillion soon.
There is no answer.

We need Paul Keating back in The Lodge.

The Labor party has lost its way. Shorten should have been the canary in the coal mine. They need to seriously reexamine their core policies and stop trying to claim the middle ground.

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juliar Gold Member Offline Australian Politics Posts: 22966	Re: cash limit Reply #57 - Aug 7^th, 2019 at 10:37am Gweggy does his best with his failing mind. Gweggy, don't disappoint your fans - bring back your famous stain picture taken after you had your hemorrhoids operation. The Labor Party is now irrelevant just like the Greenies so when will they amalgamate into the new GARBO PARTY ?
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Bam

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Australian Politics

Posts: 21905
Gender: male

Re: cash limit
Reply #58 - Aug 7^th, 2019 at 10:40am

greggerypeccary wrote on Aug 7^th, 2019 at 10:12am:

We need Paul Keating back in The Lodge.

Paul Keating should never have left politics. He would wipe the floor with the current mob in government.

Thanks to the reforms he introduced as Treasurer, he has had more influence over Australia's economy in the past 25 years than any other single politician. If his reforms were allowed to be implemented in full - particularly 15% compulsory superannuation - our country would be in much better shape now.

We're currently suffering economically due to 20 years of conservative stagnation.

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You are not entitled to your opinion. You are only entitled to hold opinions that you can defend through sound, reasoned argument.

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juliar Gold Member Offline Australian Politics Posts: 22966	Re: cash limit Reply #59 - Aug 7^th, 2019 at 10:45am Bammy sings the Socialist hymns. Oh well the ScoMo Messiah has 20 years to sort it all out now.
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