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Cashless Society !!
- Thread starter Tigaman
- Start date
That's the way to do it. Slowly withdraw cash from bank (even considering they pay a sh!t interest rate) and then keep hiding it at home for later use.
Interest rates aren't that bad now and most decent banks are paying +5%. If yours isn't then i suggest shopping around.
For every $1000 cash you store at home that's costing you $50 annually. I'd rather keep the $50.
What about us Boomers Panther, do we miss out because we think we've got to be savvy n tap n go for the good stuff coz it's all generation plastic now.
Pay cash, get a 10% saving on your $1000 spend, you save $100 so you're $50 in front.
Only one thing wrong with that idea. Lots of places don't like smelly old cash now. Hide it under the mattress for to much longer n no bastard will want the stuff, unless it's your dealer or hooker.
Funny how people still get the shakes when they see, touch and smell those musky bank notes hey?
I wasn't saying to clear out your bank account, just withdraw and reserve enough in case of outages at banks. I still do that nowadays by using cash and card when spending. Funny how I notice more people use cash than card at the self serve registers of the supermarkets.....even younger ones.
Next thing you know the tradies will have to pay tax. OMG unthinkable.
Glad I pull cash out at the Aldi shop. When my bank broke on a Sunday could still fill up petrol and pay for groceries. Plus I need a stash for tradies.
With that said it’s a business’ choice if they are cashless or not. They will lose some customers if they are cashless but they also lose all the costs of handling cash. I’d imagine that people whinged went cheques weren’t accepted any more too. There is a social issue that some older folks just aren’t going to be bothered to learn the new technology - my mum is one - so they could get stuck. There is a bigger issue that when the system goes down like in mr robot it will be anarchy. FMD we couldn’t even forgo scrunching instead of folding during Covid.
If you don’t like giving your money away to the ticket clippers then insert your card and don’t tap (if linked to your savings account). No fees as it’s like a direct deposit.
With that said it’s a business’ choice if they are cashless or not. They will lose some customers if they are cashless but they also lose all the costs of handling cash. I’d imagine that people whinged went cheques weren’t accepted any more too. There is a social issue that some older folks just aren’t going to be bothered to learn the new technology - my mum is one - so they could get stuck. There is a bigger issue that when the system goes down like in mr robot it will be anarchy. FMD we couldn’t even forgo scrunching instead of folding during Covid.
If you don’t like giving your money away to the ticket clippers then insert your card and don’t tap (if linked to your savings account). No fees as it’s like a direct deposit.
This is everything that's wrong with cash.
Why are tradies exempt from paying tax like the rest of us cause they want to do untraceable cash jobs?
They use the same roads, the same hospitals, the same schools that tax payers do but they want their cake & eat it too.
Then they double dip at tax time.
It's a scam.
Nah ditch it so the tradies pay their fair share of tax like everyone else.
Sorry if this annoys some here but annoys me that it's just an accepted part of Australian culture.
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Same with my Mum. Has been advised to use the card many times but refuses due to her lack of knowledge on tech. Still using that silly little passbook. I think cashless won't be around until us Gen Xers get to 70+.....so maybe in 20 years time or so.
In one way, considering how much tradies quote, they can reduce the cost if they get paid cash.
Yep there is a cash price and a non cash price. So the customer chooses basically. The tradie has to compete or they won’t get the job.
It's weird isn't it. I hear about this all the time. I got my first Bankcard in 1979. I get really really old people not using it by my Dad is 93 and has been using it since the '70s too.
Of course they do because they don't pay tax on it. There in lies the problem.
You're not saving money if you contribute to it though, the legimate tax payer is getting slugged through the backdoor by governments who keep lifting taxes to pay for the amenities we need in society cause the ones abusing the system (cashies) aren't! Schools, hospitals etc. don't appear out of thin air. It's entirely unfair & a blight on our 'society'.
It's definitely one of the benefits of people paying with card. The tax take is increased - both GST received and income tax paid. It's not just tradies, it's cafes/butchers etc etc, the list goes on. It was probably 80% cash for these guys 10 years ago. Be lucky to be 5% cash now.
I agree with the principle that you shouldn't be able to avoid tax simply through the method you receive payment. But you are ignoring the fact that the payer usually gets a discount on their job by paying the supplier in cash. So there is an incentive to pay cash, mostly where the payer isn't seeking a tax deduction for their payment.
I don't know too many people who would openly declare all their income if part of it was received in cash.
This is mostly from sole traders as bigger businesses won't allow it. They need to see the invoice once the call has been made by the client.
Most of those businesses though have moved away from "cash under the table" due to the implementation of POS systems. The amount of cafes / butchers etc now that have POS systems is huge. They've all realised that the small amount they could make by taking cash under the table is more than offset by the benefits that a POS system brings in, in terms of buying the right stock, the control stock control processes etc.
If we are talking about correct tax distribution (and its been raised on several threads), tax avoidance by tradies is probably 1 of the bigger ones. When you see tradies driving around in top of the range cars with declared incomes less than $80k the you know there is something wrong.
