Confirmed: proposed cash ban is about controlling your money

Proposed cash ban is not about controlling your money, says Reserve Bank.

NOW that 2020 is well underway, let’s not allow this to escape the scrutiny it deserves. A Liberal government has legislated to ban Australians from spending any more than $10,000 of their own money in cash. In fact, the Morrison government slated the new policy to begin officially on 1 January. Happy New Year, base! The Prime Minister wants ‘offenders’ jailed for two years. It hasn’t come to pass because, although approved in the lower house, the bill is now held up – an appropriate phrase – in a Senate committee hearing. An unlikely but very welcome opponent of the policy is Independent MP Andrew Wilkie. Good work.

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38 Responses to Confirmed: proposed cash ban is about controlling your money

  1. Dr Richards noted that RBA Governor Philip Lowe had already indicated that negative interest rates in Australia were extremely unlikely.

    So it’s likely.

  2. shady

    The first step on the road to social credit?

  3. candy

    Nice cartoon.

    The Prime Minister wants ‘offenders’ jailed for two years.

    A very odd thing for a Liberal PM to propose. I wonder who he is taking advice from.

  4. Bruce of Newcastle

    Be fun as blackouts hit.
    Financial transactions would stop Australia-wide.
    But keep on shutting down coal fired power stations guys.
    I’m sure it’ll work out fine.
    Maybe you should ban tumbrils too, just in case.
    Just sayin’.

  5. Scott Osmond

    Lampposts, rope, some assembly required. This is why I left the Liberals back in 98. Even when they won they implemented leftist polocies stripping more and more liberties. Johnny Howler was big government on steroids. I bet the royal commission Scotty slowmo wants is to give him and his traitors cover to implement a carbon price.

  6. mem

    Last I heard cash is still legal tender. Putting a cap on how much you can use for a single transaction is fraught with difficulties. Not the least being the ingenuity of mankind in finding a way around a problem when it comes to money. I suspect the people that proposed this get paid online and do all their purchases including latte by card and think they will rake in more tax from the plebs that deal in cash. I predict the opposite might happen as large transactions are off-shored and smaller ones broken into bites and even more cash goes underground. Oh and has anyone considered that the cost of administering this fan dangle will likely far outweigh any benefits.

  7. Not the least being the ingenuity of mankind in finding a way around a problem when it comes to money.

    That has applied throughout history. Only governments seem to think they are smarter.

  8. Davey Boy

    The final public hearing for the Cash Ban bill as part of the Senate committee process will be held somewhere in Sydney on Thursday 30th January 2020.

    This may well be the last opportunity we have to turn up and riot* against the loss of a basic freedom – to use your own cash to buy things outside of the banking system and away from the eyes of government.

    * metaphorically speaking, meaning to make as much and as loud of a public a fuss as is legally possible / tolerated.

  9. Shy Ted

    When asked if this was the intent, Prime Minister Scott Morrison spoke at great length and said nothing.

  10. Davey Boy

    “Somewhere in Sydney” is yet another illustration of how the Senate Committee”consultation process” has been corrupted. No doubt the location will be made known at very short notice.

    For the previous “public” hearing on 12 December 2019 in Canberra, the notification that the hearing was taking place was published at 5:30pm on 11 December 2019.

    This ensured that next to no members of the “public” actually turned up to the “public” hearing”. The only attendees were those whom the Committee had previously invited for Q&A purposes.

    There are now videos posted on YT of the Q&A sessions from that December hearing. E.g. this one where the nice lady from AUSTRAC couldn’t answer any questions and had to take just about all of them on notice.

  11. Glyn

    Missed the point. It is the cash economy, stupid. How many tradesmen do you know who prefer cash to any other form of payment, how many cleaners prefer cash, how many labourers, gardeners etc. Why should tax-paying Australians (especially those on PAYE) subsidise those who are hiding their incomes from scrutiny in order to avoid tax.

  12. Tim Neilson

    Why should tax-paying Australians (especially those on PAYE) subsidise those who are hiding their incomes from scrutiny in order to avoid tax.

    The tax-paying Australians get their cut of the action when they’re given a discount for cash.

  13. Davey Boy

    Glyn, what are the Overall figures for this? Care to quote them?

  14. Whalehunt fun

    Why should tax-paying Australians (especially those on PAYE) subsidise those who are hiding their incomes from scrutiny in order to avoid tax.

    Why? Because tax is theft when it is used by cretins for utterly wasteful purposes. While these talking arse cancers spray taxes around on the child molesting filth that are the ABC and the arts community, no tax is legitimate. I do not want my money to fund pedophiles.

  15. struth

    Missed the point. It is the cash economy, stupid. How many tradesmen do you know who prefer cash to any other form of payment, how many cleaners prefer cash, how many labourers, gardeners etc. Why should tax-paying Australians (especially those on PAYE) subsidise those who are hiding their incomes from scrutiny in order to avoid tax.

    You’ve never run your own business have you, dickhead?

    Besides the ignorance of the proof of receipts to claim deductions, oveall price charged, difficulty in opeation chasing money, the alternative being proposed is a truly a totalitarian state working with social credit.
    Somehow morons like the one above believe if a few cashies were taxed , the government would declare it has all the money it needs to fund everything and the birdies would all start singing again.

  16. Davey Boy

    Nowhere in the the notes accompanying the legislation, nor in any written or other submission from Treasury, RBA, ATO, AUSTRAC or anyone else, is there any measure, other than a vague guess, of what the “problem” the cash ban is supposed to fix. The ostensible driver is “findings” from the Black Economy Taskforce.

    Does eliminating cash help to combat the black economy? Not according to Medina & Schneider’s statistics, published by the IMF. Japan has the largest use of cash in the world, and its black economy is even smaller than Australia’s – 5th smallest in the world, out of their tracked index of 158 countries. Switzerland, the United States and Austria rank among the smallest black economies worldwide, and they have no cash ban.
    By contrast, European countries such as Spain, Italy and France have severe cash restrictions in place, and these countries have larger black economies than Australia.

  17. Scott Osmond

    Why do tradies like cash? same reason I did when I was a massage therapist. Money in the hand ment money right now. Financial transfers took time, a FPOSS machine cost just doesn’t add up for many small businesses. It was never about the taxes. But I wouldn’t expect the government parasite class to understand that.

  18. Dr Faustus

    “Dr Richards said RBA research found “very large transactions by households are very infrequent and, when they occur, they use electronic payment methods or occasionally cheques”

    Hard, then, to see the purpose for the ban. Presumably an attempt to make drug dealing, money laundering and paying off government officials illegal?

  19. Davey Boy

    Dr Faustus

    There is an exemption in the legislation specifically for government employees who are performing their “duties”

    payments made or accepted by a public official in which the public official is legally required to make or accept a cash payment in the course of their duties

    Stops the proles using cash whilst maintaining the facility for the nomenklatura

  20. The Sheriff

    So their APS can send pallets of cash to the Iranian terrorist regime like Obama did if they feel like it, but imprison the man on the street who buys a second-hand car off a nearby grandma with cash.

    This is about social control. Look at HK where the protest movement specifically collects cash donations to avoid being traced. They would protest in their millions if the government proposed a cash ban there but we Aussies simply let our rights dissipate without a trace.

  21. struth

    They would protest in their millions if the government proposed a cash ban there but we Aussies simply let our rights dissipate without a trace.

    Exactly.
    This country deserves all that is coming to it.

  22. Dr Faustus

    There is an exemption in the legislation specifically for government employees who are performing their “duties”

    Davey Boy: I was thinking about the need for [ahem] ‘supplementary’ payments in connection with said duties.

  23. Tim Neilson

    While these talking arse cancers spray taxes around on the child molesting filth that are the ABC and the arts community,

    Don’t forget the Safe Schools program in the taxpayer-funded State “education” system in CFMEUistan.

  24. Quokka

    I believe the $10,000 transaction limit is not ‘fixed’ in the legislation, which means that at a later date it can be adjusted up (ho-ho) or down without any change to the actual law. A convenient feature which allows for gradual suppression of cash transactions – quite an elegant mechanism really.

  25. Spurgeon Monkfish III

    Why should tax-paying Australians (especially those on PAYE) subsidise those who are hiding their incomes from scrutiny in order to avoid tax.

    Because it costs me less if I pay my tradies in cash, you idiot. Anyone who avoids/evades giving braindead politicians and bureaucrats extorted money the latter have no right to is alright by me.

  26. Squirrel

    Australia’s beloved….. banks are presumably cheering this on and rubbing their hands at the thought of the death of cash (and the chance to shut down even more branches) – oblivious, presumably, to the fact that this will remove one of their major competitive advantages over the likes of Apple and Facebook.

  27. rickw

    The world must be gobsmacked how seamlessly and quickly Australian politicians are able to implement ideas so shit that they would make a Marxist blush.

  28. Bushkid

    By contrast, European countries such as Spain, Italy and France have severe cash restrictions in place, and these countries have larger black economies than Australia.

    Yep. Restrict people, make life harder, more inconvenient, and guess what – they’ll just keep on finding ways to beat the system that’s trying to screw them.

  29. Scott Osmond

    Quokka, exactly. The 10k limit is just the opening bid to get it past. Give it time and the number will be reduced to prevent drug dealers, tax evaders and gasp terrorists. Bet you that those who wish to donate ALDI bags filled with cash to the Labor party or Greens will be okay.

  30. Ewan M

    All the more reason for Australia to have a Bill of Rights where the population can challenge bad legislation.

  31. Crossie

    A very odd thing for a Liberal PM to propose. I wonder who he is taking advice from.

    Some twenty-somethings with polItical science and communication degrees who are now putting their lecturers’ wet dreams into practice. And poor ScoMo just wants to be loved and he thinks the more left he goes the more media will love him. As for his base, stuff ’em, they don’t have Twitter accounts.

  32. Judge Dredd

    And the hunt for taxes continues. There is always a desire for government, no matter the banner they fly, to take more of your money and control more of your life. Give into Caesar what is Caesars.

  33. Chris M

    This is claimed to clamp down on large drug deals and the like but only applies if one party is trading under and ABN and excludes government agents. As illicit drug dealers tend not to operate as businesses with ABN’s the obvious conclusion is that A) it has nothing to do with such drug deals or B) the government wants to take over and be the dealer.

  34. Ellen of Tasmania

    Remember to write to your ‘representatives’.

  35. Ellen of Tasmania

    It always hurts the little people.

  36. struth

    Nothing like cash.
    For those dead heads who don’t have a business, let me explain some basics.
    It’s not the cash, it’s the lack of receipt that lies in tax avoidance.
    I often demand cash, and supply a receipt for the amount paid…………….but I still want the cash because I deal with people I wouldn’t know from a bar of soap and cannot afford to take a chance, or wait 9o days or more, having to send in the collection agency it increases my business costs and therefore puts up the overall price.
    Watch prices go through the roof.
    When you get paid is as important as how you get paid.
    Fuckwits.

  37. struth

    Without cash the Bata system will explode and black market will increase.
    I’ll deliver your header, if you send your son around to re roof my house.

    Expenses will be applied against other jobs.
    Taking cash out of the system takes out timely payment, makes it harder to judge who has the money and who is the best payer etc.

  38. struth

    Card Machines are dicey, can have problems and break down.

    I have spent thousands getting a header across the country to be delivered to bumfuck WA from Melbournistan.
    I want cash before it comes off the trailer.
    I will not rely on a machine that can’t find a satellite always and don’t know the customer.
    Those jobs are in excess of ten grand and I still demand cash on delivery.
    Well I used to.
    They get a cheaper price because transport expenses are massive and cash flow can be a killer.
    Not because I don’t declare the job.
    bit hard to explain why I fuelled a Kenworth up crossing Australia and the government taking pictures and recording ever movement and border crossing I make then claim it never happened.
    Cash payment equals cash flow.

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