Thread: CASH ONLY SALES - Version 2.0!

Dt, your really being one eyed and EXTREMELY discriminatory on this one. Let's start at the top and work our way down, as in lead by example. Like father, like son - James Packer weaves that old tax magic - Business
You want tax on every small business sale yet it's fine for the top end to give the ATO the finger?
A 30% tax bill is supposed to be paid on capital gains, not get a tax credit!
I thought you wanted less red tape?
You want the food shop to pay "fair tax" but the mall their in can base part of the company in a tax free zone and pay sweet nothing?
http://mobile.abc.net.au/news/2013-1...centre/5027256

Originally Posted by 3toes

For this to happen the government would also have to include a mandate that banks had to provide this service for any customer who asked or wanted it. You can imagine the reaction of the banks to this. At the moment you have to pass a credit check and have trading accounts. Many a business in its early stages of life cannot obtain EFPTOS for these reasons. Perhaps if they find that their customers are used to paying cash they feel no need to add the additional costs to their business an EFTPOS would create and hence to prices paid by customers. As someone else said before the smaller the business the higher the costs charged by the banks. Would the government be prepared to step in and set the charges the banks could make to access and use the EFTPOS system.

Yep. Legislate and regulate. Self regulation may have worked a few decades ago but these days everyone is looking after themselves and forgetting that "the needs of the many out way the needs of the few".
It must be time for V.S.N.A.P. :-)
That would be the: Vulcan Swiss Norse Aussie Party!!!

Originally Posted by frantic

Dt, your really being one eyed and EXTREMELY discriminatory on this one. Let's start at the top and work our way down, as in lead by example. Like father, like son - James Packer weaves that old tax magic - Business You want tax on every small business sale yet it's fine for the top end to give the ATO the finger? A 30% tax bill is supposed to be paid on capital gains, not get a tax credit! I thought you wanted less red tape? You want the food shop to pay "fair tax" but the mall their in can base part of the company in a tax free zone and pay sweet nothing? http://mobile.abc.net.au/news/2013-1...centre/5027256

Never said I was only one dimensional. Let's go get the whales of tax avoidance too.

Maybe I am just jealous that I don't get to cheat? Or maybe I am sick of looking like a fool for bring honest? A bit like if I was just a common drug smuggling crim then I could be a multi millionaire now. But that's another thread.

It's all wrong... And should be sorted.

I ran my business, Brian's Retirement Sale, for 15 years without EFTPOS, credit or debit cards. All swap meet and markets sales were cash, most walk-ins paid cash, only mail orders paid by cheque or postal order. some of these sent cash in the post which I dislike. I don't recall anyone objecting to not being able to use these facilities. It is only in the last few years that I was getting requests to pay for mail orders by direct deposit which I do like. A couple of occasions when I banked cheques and postal orders only, the girls at Suncorp sometimes commented "What, no cash today, Brian".

Originally Posted by Kev the Fridgy

I pay quite a considerable amount in income tax, I also rarely use my eftpos or visa debit card, I do not have a credit card.....

I dont have a credit card either.
Interesting thing about Debit cards, mine anyway.
I was once at my bank depositing a Lotto cheque into my account and the cute tellor ask whether I hit saving or credit when using the card ?
I told her I hit savings as I couldn't afford credit ( pun ).
She told me that I pay a monthly fee ( $3 ) for credit transactions, what I didn't know is that I pay a much larger fee everytime I hit savings !!!
Now I hit credit because I cant afford savings, ta da.
Cute girl saves me 20 or 30 bucks extra a month.

Originally Posted by olbod

I dont have a credit card either.
Interesting thing about Debit cards, mine anyway.
I was once at my bank depositing a Lotto cheque into my account and the cute tellor ask whether I hit saving or credit when using the card ?
I told her I hit savings as I couldn't afford credit ( pun ).
She told me that I pay a monthly fee ( $3 ) for credit transactions, what I didn't know is that I pay a much larger fee everytime I hit savings !!!
Now I hit credit because I cant afford savings, ta da.
Cute girl saves me 20 or 30 bucks extra a month.

yeah they are separate networks. Savings will go via EFTPOS credit via visa or mastercard gateway.

So why isn't an eftpos only facility available and cheap for small business ?

The banks wouldn't make what they want if they start supplying stuff cheap to their customers. Just another rip off to fatten their bank accounts.