Updated for some typographic errors. Hat tip to Mem and Bemused.
LINO – Liberal In Name Only.
Not Liberal as in Party. But Liberal as in liberal.
The gift that keeps on giving, the Hon Kelly O’Dwyer, has cast her shadow over Australia again. As the Minister for something or other, she proposed new laws that prohibited the payment or receipt of more than AU$10,000 in cash be made illegal. Not reportable. Not discourage. No. ILLEGAL and subject to criminal penalty.
Thus is was on September 19 2019 that the “Liberal” government introduced the Currency (Restrictions on the Use of Cash) Bill 2019. Said bill has now had 3 readings and is now off to a Senate Committee to report in 2020.
Here are some nuggets from the Explanatory Memorandum to the Bill:
- Financial impact: The Bill is estimated to have an unquantifiable impact on revenue over the forward estimates.
- Human rights implications: This Bill engages with the right to the presumption of innocence and the right to privacy, but is consistent with those rights. See Statement of Compatibility with Human Rights — Chapter 2.
- Compliance cost impact: Regulatory costs are estimated to be minor. The cash payment limit does not introduce any additional reporting requirement on business. Payments that exceed the limit are likely to be infrequent and most businesses use banks accounts.
Tick. Tick. Tick.
Unquantifiable financial impact. Yeah right.
“… engages with the right to the presumption of innocence and the right to privacy, but is consistent with those rights.” What the hell does that mean? There will be no privacy – the ATO will have access to records. And the very nature of the bill implies that all cash transactions above $10K are for the purpose of tax evasion.
“… does not introduce any additional reporting requirement on business”. Mmmm. How the hell would they know.
But of course like many of the lazy and deceptive laws that come from parliaments nowadays, it comes complete with associated rules. Thus whilst the law can’t be changed without parliamentary review, the rules can be changed on ministerial whim.
When will these fools not only stop introducing such stupid laws, but worse when will they stop being conned by the administrative blob. Such legislative architecture is manifestly anti-democratic and also economically destructive.
But that’s ok. The political elite got their carve out – like they get from many of the laws that apply to mere citizens like privacy, spam and truth in advertising. This was their gift from the administrative blob to approve yet another disgraceful law. Guess what is not subject to the cash payment limit:
payments made or accepted by a public official in the course of their duties where it is necessary for the payment to be made in cash for the performance of those duties and payments made or accepted by Australian government agencies where the payment is foreign currency produced for a foreign government;
Aldi bags all around.
The idea that the Morrison government is either liberal or conservative is a myth. Being 1 inch to the right of Bernie Sanders does not make you liberal or conservative. All it does is make you Elizabeth Warren.