The Horror of a Cashless Society

[Mr Cashie]

A similar thread exists on whirlpool so thought I might create one here.

Aside from placating the parasitic ATO and making it easier for the government to spy on us, not much good can come from this.

My transactions are personal and what I spend on and where I do it is my business. The extremist comments on that age article today are quite scary with suggestions to ban 100s and 50s.

And lastly, whatever the ATO does people will always find a way around when it comes to assets and non-electronic transactions so the ATO and Australian Government should really save themselves the time, effort and money and stop meddling in the lives of private citizens and controlling every little movement of ours.

 

[Patrick Bullet]

I respect your username

 

[Maggie5]

Tradies wouldn't like this!

 

[Kurve]

RESIST! RESIST! RESIST!

 

[Messenger]

Most of the vendors I’m aware of going cashless have done so to limit loss due to theft.
S
I don’t see cash dying anytime soon; banking transaction costs are still relatively high and cash is still popular. Having said that I’d rarely have more than $20 in my wallet and often have no cash at all.

 

[CheapCharlie]

If you are a business owner who declares all income, going cashless is ideal
Less chance of employee pilferring, or mistakes.
Less time wasted organising cash floats
Money straight into the account etcetera

Many of the successful small business owners i know have made their money and paid for their house extensions and live a good lifestyle based on the non declared cash component of their businesses. Possibly paying employees in cash or part cash.

Tax avoidance wise, going cashless, is going to see an upswing in declared income across a wide range of businesses

Personally, i agree with Cashie, and don't like the whole idea that every single thing i spend and do financially is being tracked

 

[Brunswick Trap King]

I think it'll be great to see reduced tax avoidance. If I have to pay tax on my earnings, there's no reason others should be exempt due to dodgy cash jobs.

 

[Reynolds Number]

Sometimes I pay too much tax.

 

[Kurve]

I think it'll be great to see reduced tax avoidance. If I have to pay tax on my earnings, there's no reason others should be exempt due to dodgy cash jobs.

The tax system could be fairer.

 

[Brunswick Trap King]

The tax system could be fairer.

Fewer deductions would be a nice start.

 

[Maggie5]

The tax system could be fairer.

The problem with cash jobs is that if the person paying for electrical or plumbing paid less if paid in cash they will.

That is one of the reasons the GST was brought in wasn't it? Black economy?

That worked out well.

 

[bombersfan4000]

A similar thread exists on whirlpool so thought I might create one here.

Aside from placating the parasitic ATO and making it easier for the government to spy on us, not much good can come from this.

My transactions are personal and what I spend on and where I do it is my business. The extremist comments on that age article today are quite scary with suggestions to ban 100s and 50s.

And lastly, whatever the ATO does people will always find a way around when it comes to assets and non-electronic transactions so the ATO and Australian Government should really save themselves the time, effort and money and stop meddling in the lives of private citizens and controlling every little movement of ours.

Well if the looney left want to keep pushing for their communist utopian dream, in censoring everything, freedom of speech, hate speech laws, what we read and news we receive a cashless society is only part of it as will be easier to control

 

[Herne Hill Hammer]

The problem with cash jobs is that if the person paying for electrical or plumbing paid less if paid in cash they will.

That is one of the reasons the GST was brought in wasn't it? Black economy?

That worked out well.

It hasn't worked nearly as well as the privatisation of public utilities. Bring all that competition in and watch our bills drop. I would say the only one it has worked with in lowering bills has been Telstra.

 

[Thegibbsgamble]

Your local convience store will shut then. They rely on paying foreign students cash in hand.

 

[Bomberboyokay]

Was thinking "tax dodger" at the thread title. Sure enough ATO mentioned in the second sentence.

 

[Run n Spread]

Actually been tried twice sort of.

Apparently in North Korea in all places where the values were changed overnight rendering currency useless. Led to a further collapse and people tried to spend/buy what they could or force their money o/seas if they had a contact.

In India there was a crackdown on the black economy. Banks struggled to get the fee structure right and a lot of businesses went broke as people stopped spending and tried to buy assets or find another way of spending.

In both cases the Black Economy and illegal trades carried on just fine and was worse in some cases.

Tie everything to an chip or EFTPOS and people will just barter some other way. Cash (even if it is fiat) is the backing behind everything. Lose it and you are handing your economy over to the Banks/computer generated cash.

 

[Rotayjay]

After realising I was overspending, I eventually took to an old-fashioned method of budgeting. I have all my bills and 'compulsory' expenses come out of my debit card and direct debit. I work out how much money I have left to blow on my discretionary crap, then go to the ATM and take that money out in cash once a week.

How are ****s like me who can't count supposed to budget in a cashless society?

 

[Ratts of Tobruk]

After realising I was overspending, I eventually took to an old-fashioned method of budgeting. I have all my bills and 'compulsory' expenses come out of my debit card and direct debit. I work out how much money I have left to blow on my discretionary crap, then go to the ATM and take that money out in cash once a week.

How are ****s like me who can't count supposed to budget in a cashless society?

Just have a separate account. It's literally no different for you to use that account as if it was cash. In both cases it's your will power stopping you from dipping into the other cash pool.

It's hard to have a proper debate about 'fair tax' when we know so many people avoid and minimise it. The ATO should reward businesses who are open and transparent about their complete cash flows.

 

[Admiral Byng]

After realising I was overspending, I eventually took to an old-fashioned method of budgeting. I have all my bills and 'compulsory' expenses come out of my debit card and direct debit. I work out how much money I have left to blow on my discretionary crap, then go to the ATM and take that money out in cash once a week.

How are ****s like me who can't count supposed to budget in a cashless society?

Simple. Subscribe to online banking and open a secondary account. Call it "Bills Account" or something. Set up all your direct debits to this account. Every pay cycle transfer an amount into this account, and never use it for discretionary spending.

 

[Maggie5]

I think that going 'cashless' will affect those over 60. My best friend who is in that age group, has never had a credit card and I often let her use mine if she is buying on-line. e.g footy, theatre tickets.

I also like cash and rarely have less than $200. I like to pay cash to small shops and use credit card for larger companies more so since fees were introduced.

 

[Lebbo73]

I think that going 'cashless' will affect those over 60. My best friend who is in that age group, has never had a credit card and I often let her use mine if she is buying on-line. e.g footy, theatre tickets.

I also like cash and rarely have less than $200. I like to pay cash to small shops and use credit card for larger companies more so since fees were introduced.

When I used to work for a bank (which bank?) it was a near impossible task to talk pensioners into putting their money in an interest paying account. The government already assumed that they were paying the deeming rate so they were losing out by not earning interest. Imagine how hard it would be just to get them to have a debit card, let alone a credit card!

 

[Maggie5]

When I used to work for a bank (which bank?) it was a near impossible task to talk pensioners into putting their money in an interest paying account. The government already assumed that they were paying the deeming rate so they were losing out by not earning interest. Imagine how hard it would be just to get them to have a debit card, let alone a credit card!

She does use a debit card but refuses to get a credit card. Really strange and can't talk her into it, just as well I trust her with my card and pin as she is going OS later this year.

 

[Fire]

Well if the looney left want to keep pushing for their communist utopian dream, in censoring everything, freedom of speech, hate speech laws, what we read and news we receive a cashless society is only part of it as will be easier to control

Can we please stop pretending that its only the loony left that wants to censor and attack freedom of speech? That's a trait of authoritarianism, which can come from either side. Unless of course you think Howard was a loony leftist when he implemented the sedition clause.

 

[Brunswick Trap King]

She does use a debit card but refuses to get a credit card. Really strange and can't talk her into it, just as well I trust her with my card and pin as she is going OS later this year.

You can pay online with a debit card. Is she using your credit card because she doesn't have enough money or because she's unaware?

 

[Maggie5]

You can pay online with a debit card. Is she using your credit card because she doesn't have enough money or because she's unaware?

Only used debit card for airfares, not footy tickets and on-line purchases. On most of her purchases, debit card wasn't an option.