Australia to lose the $100 note

They know what they are doing..... it's total rubbish when they make the media screen to the public that the black market is causing the problem and that's the reason for the transition.... The bankers are just loving this whole electronic bullcrap..... the full control is coming together and in place.....


ATO cracks down on black market, which is costing taxpayers $22b a year

Tax Office cracks down on cash payments

Probe to target tradies and private operators

Beauty salons and cleaners also on ATO hit list

Soaring black economy hits taxpayers hard


....."Tax evasion in the cash economy can have serious consequences. One takeaway business was hiding an average of $2100 a week in sales. The ATO conducted an audit and also identified that in addition to evading income tax, $4000 of staff entitlements had not been met and $18,000 in GST was evaded. The owner was sentenced to two years in jail and served three months before being released on a $1000 good behaviour bond. He also paid over $65,000 in fines.".......


http://www.dailytelegraph.com.au/ne...ayers-22b-a-year/story-fni0cx12-1227039343049
 
It's like the Opal cards. Once you've gone digital they can raise the price at any time.

For a train journey I make sometimes it's 22cents cheaper to buy a paper ticket.
 
LOL by the time the RBA gets around to issuing the new notes they will need to consider adding more zero's onto the end of the notes not removing the large notes
 
put 5 g of even 50 s in your wallet and it wont bend maybe they are trying to make cash look more important and if you got cash you must be into something nefarious
 
Top steal a line "Whereas years ago scallywags were trying to get money out of banks...now your problem is how to get your ill-gotten gains in."

Cash is still king in some arenas but to think your going to do much more than minorly inconvenience criminals by cutting $100 bills is nonsense. In the US the cartels note of trade is the $20, it's small enough to use and spend down south and takes up half the space of a $10 and 1/4 a $5.

Here in australia the fastest growing sector of the drug trade is the small time seller/self importer who orders drugs online, gets them through the post and pays for them in a currency that started as a joke, named after a dog meme and is more anonymous than cash.

I thought the GST was supposed to end the cash in hand problem.

I don't think it's a conspiracy, I don't think it's a secret NWO plan or a bildaburg cabal dot point, I think it's something much more insidious: a group of upper middle bureaucrats trying to spearhead an initiative to make it look like they are earning their keep.

I don't normally get to fussed about these sorts of thing but provision of currency is a basic government utility and responsibility. $100 notes have a useful function even if it is slightly limited.

Not that it bothers me though, I'm such a child, last time I night a car I had the money in $20's just do I could play with big bundles of money at home for a day or two. I completely understand how this would be a major hassle for people who actually have or deal with large cash sums on a regular basis.
 
phrenzy said:
, I think it's something much more insidious: a group of upper middle bureaucrats trying to spearhead an initiative to make it look like they are earning their keep.
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Bingo!

phrenzy said:
I don't normally get to fussed about these sorts of thing but provision of currency is a basic government utility and responsibility.
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I dissagree with you on this one. I don't beleive it's their job... we can chose to use whatever we like...however they've made the rule that you must use THEIR currency & only their currency to pay your tax under pain of imprisonment. They then made the rule (the GST) that you must pay tax on every transaction.

its an insidious form of monitoring and control.

In what universe is it fair for a 3rd party with no interest or input, see themselves entitled to a share of transaction between 2 or more separate parties? And not just GST, Stamp Duty, Payroll Tax...its outrageous.
 
sammysilver said:
Bastards! I try to keep a couple of thousand with me at all times. At the mo it is only 20, $100 notes. Can you image trying to stuff 100, $20 notes into your wallet and stuffing that in your back pocket?

Further, every summer I go to Bondi Beach and put a $100 note under my sunnies, covering my nose from the sun. I tend to gather the dirt girls. What will $20 get me?
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If $100 gets you "Dirt Girls", I suggest $20 will get you "Dirt Boys"
 
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