8 ms·
You often pay for things > $10K in cash? You also pay by barter for those things?
by cstrat 7y ago
You often pay for things > $10K in cash? You also pay by barter for those things?
- King-Aaron 7y agoEver bought a used car?
- zzo38computer 7y agoActually, I don't use a car. (Also, I still use a bank account when dealing with the government, but that is all I use it for.)
- King-Aaron 7y agoYes but, I don't know why you made that comment lol. I was getting at the fact that most people who buy a second hand car, boat, motorbike, having renovations done, landscaping, etc would be used to handing over more than 10k in cash
- AnssiH 7y agoNo idea about Australia, but here in Finland all those examples would normally be paid via a bank transfer.
- King-Aaron 7y agoAnecdote time, but I've bought a used car that was about 100kms from the closest mobile phone reception. Hard to do bank transfers in the middle of the bush sometimes
- AnssiH 7y agoAh, that makes sense. Finding a road without mobile reception here would be difficult.
- King-Aaron 7y agoYeah, admittedly it's becoming less of an issue as times go on, but there could by other contributing factors to people not being able to do electronic transfers
- inferiorhuman 7y agoYes but, I don't know why you made that comment lol. I was getting at the fact that most people who buy a second hand car, boat, motorbike, having renovations done, landscaping, etc would be used to handing over more than 10k in cash I used a cashier's check when I did that.
- ajdlinux 7y agoPer the FAQ at https://www.treasury.gov.au/sites/default/files/2019-07/at_glance_summary_of_how_the_cash_payment_limit_will_work_0.pdf https://www.treasury.gov.au/sites/default/files/2019-07/at_g..., consumer to consumer transactions, including sales of used cars privately, are exempt from this proposed law.
- Causality1 7y agoIt's easy to call that exemption a "tax-dodging loophole" and close it once the law is already on the books.
- mcv 7y agoI have. It was less than 10k and paid by bank transaction. But how much an economy still relies on cash varies a lot per country. Every time bank or payment discussions come up here, I'm surprised by how primitive US banks still are. A few decades ago, my parents still had to pay the down payment of their house (f30k I think?) in cash. It makes sense that some countries are more ready to move to a completely cashless economy than others. Whether or not that's a desirable development is a whole different and interesting discussion, of course. For tax and anti-fraud purposes, it is. For privacy not so much.
- kerkeslager 7y agoThis is an appeal to lack of empathy. Just because I don't make large cash transactions doesn't mean I shouldn't care about the rights of people who do.