Government taking money from inactive bank accounts

Discussion in 'Current Affairs' started by RetardedMonkey, Feb 26, 2013.

  1. bordsilver

    bordsilver Well-Known Member Silver Stacker

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    Low hanging fruit was the super funds of non residents and then the "inactive" super funds and now this. I'm almost sure there was another cash grab in the last year but I forget what.
     
  2. Mr Medved

    Mr Medved Member

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  3. bordsilver

    bordsilver Well-Known Member Silver Stacker

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    ^ Curse this double thread. I just posted the same comment in the other one :p
     
  4. XB

    XB Active Member Silver Stacker

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    The previous law was "moneys to the credit of an account that has not been operated on either by deposit or withdrawal for a period of not less than seven years" and the new law basically says "Amounts held by ADIs (other than in RSAs or FHSAs) will become unclaimed moneys three years after the last deposit or withdrawal (other than fees or interest)".

    Not proposed - was law 3 months ago !

    I am really intrigued that these laws were passed Nov last year and assented to 4 Dec - why has it taken till now to suddenly appear on the MSM radar?
     
  5. bordsilver

    bordsilver Well-Known Member Silver Stacker

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  6. goldpelican

    goldpelican Administrator Staff Member

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    Merging threads.
     
  7. Golden ChipMunk

    Golden ChipMunk Active Member

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    Interesting topic , well discussed , Thank you all for sharing.
    So this is where the moni are stolen from to pay the interests for theirs mistakes.
     
  8. Midnight Man

    Midnight Man Member Silver Stacker

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    You wait till the bstards start doing this with Super - with a twist.

    Anyone with more than 5 years to go till official retirement age (which we will make up as we go along to suit ourselves) will have to invest X% of their Super balance into "Government Approved" projects.

    With the inability of the current lot to manage a pee up in a brewery, you can imagine easily that this will effectively amount to an X% tax on Super balances.

    Seriously, who put these jokers in charge of an entire country? They're not fit to manage a kindergarten, let alone Australia.
     
  9. Guest

    Guest Guest

    I'm getting really tired of the audacity and nanny stateness of big government.
     
  10. nonrecourse

    nonrecourse Well-Known Member

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    I had a real belly laugh Big A.D. reading your defence of the labour criminals theft of citizens private savings. First they steal the super of foriegn workers super, now they are in the process of stealing self managed super in the next budget and this CRAP about concern for all this lost money?........NOT !!

    When you open a bank account you are requirred to provide a 100 point check to prove who you are. You are also requirred to provide your TAX FILE NUMBER !!!!! Now I doubt that more than 1% of bank account holders would refuse to provide a tax file number because if you don't your taxed at 46.5% plus the medicare levy on any interest paid.

    So tell me with all the kings computers and all the kings men how difficult would it be to trace the poor old humpty dumpty "lost" individuals from their tax returns????

    If they haven't filed a tax return in the last three years then fair enough give to Caesar what belongs to Ceasar.

    This is nothing more than a bankrupt gang of criminals. They have pissed off over a million SMSF account holders and this THEFT of private savings has left the community gobsmacked... and mate the election will leave the criminals with a first no Quorum to qualify as an official political party.

    If the Liberal party has any brains they will run with the old comment if you elect the labor party put your money under your bed because they have a track record of stealing it.


    P.S. Guess where that money that ASIC will refund is held :lol::lol: you guessed it into general revenue..poof its spent time to print somemore fiat for the suckers.

    Kind Regards
    non recourse
     
  11. AngloSaxon

    AngloSaxon Active Member

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    I don't want this to be a personal attack but this is a genuone question. Big AD, are you a communist? Your responses to every thread on here all point towards you being happy for government to do absolutely everything it wants, and absolutely everything for you. You stand up for every government policy that has a negative impact on individuals or legal fictions such as companies/trusts etc alike.

    Why? Every post I ask: "Why?"

    Maybe communist is the wrong word. Perhaps like someone may be in favour of absolute monarchy, are you in favour of absolute government??
     
  12. Big A.D.

    Big A.D. Well-Known Member Silver Stacker

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    No, I'm not a communist but I end up playing the Devil's Advocate because a lot of people seem to have trouble thinking about an issue before they post.

    And that's not necessarily even deep thought or lengthy analysis and research. Sometimes people obviously haven't even read the article summary being cross-posted from a retard-ified source like news.com.au before they launch into a tirade about how tough they have it.

    Go back, re-read the thread and add up the amount of informative, useful posts and compare that to the number of rants and brain-farts.

    Does the government do stupid stuff? Yeah, sure it does.

    Is it a co-incidence that this is one of the best countries in the world using any quantifiable metric you care to pick? Probably not.

    Are there a large number of people out there in desperate need of a nice cup of tea and maybe some blood pressure tablets? Absolutely.
     
  13. willrocks

    willrocks Well-Known Member Silver Stacker

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    Housing affordability.
    Personal income tax.
    Bill of rights.
    ...
     
  14. Big A.D.

    Big A.D. Well-Known Member Silver Stacker

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    Human Development Index rank: 2nd
    Unemployment rate: 0.4% off "full employment"
    Independent judiciary.
     
  15. willrocks

    willrocks Well-Known Member Silver Stacker

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    ^^ That just proves what everyone already knows about you Big A.D. What part of "you care to pick" didn't you mean.

    Oh, one more, Australia abolished jury trials in civil cases (except very rare cases such as defamation, but even then the judge has to approve it). I'm also confused by this "Independent judiciary" thing. They all get paid by the government don't they? That's not a good way to be "Independent".
     
  16. nonrecourse

    nonrecourse Well-Known Member

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    The problem with rusted on Labor voters like yourself is there is no way you would ever not vote for them. I have a brother in law just like you. When Howard and Costello ran the 1999 election on the GST I voted against them because I knew what a bastard tax it was and I also knew the states would not honour their promises.

    Of course my brother in-law continues to whinge about the GST which we both voted against but now that the shoe is on the other foot refuses to conceed that these clowns have dug a hole that for the next 20 years the poor and disadvantaged are going to bear.

    Kind Regards
    non recourse
     
  17. Big A.D.

    Big A.D. Well-Known Member Silver Stacker

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    I'll stop you right there and say I'm a swing voter who tends to lean towards the left, especially on social issues.

    I'm not a rusted on anything.

    There you go with your ASSumptions again...
     
  18. southerncross

    southerncross Well-Known Member Silver Stacker

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    mmmm Labour or Greens, which one this time......
     
  19. nonrecourse

    nonrecourse Well-Known Member

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    :lol: :lol: :lol: Another ASSumption that is like a guided Exocet missle that hits the sweet spot.

    +++1

    Kind Regards
    non recourse
     
  20. nonrecourse

    nonrecourse Well-Known Member

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    What is funny is you defend these kleptomaniac clowns and Swanees charade about being concerned about so called lost money. The government has your tax file number and the vast majority of these underactive accounts can indeed be traced.

    In the financial review today it was reported that the ampunt of time it will take to reclaim the money will now go from 28 days to 10 weeks. It was also reported that these fiscal stilborns hadn't thought about all the moneys held in trust accounts as bonds for commercial property. :rolleyes:

    Kind Regards
    non recourse
     

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