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Australia;Inactive bank accounts to be seized

no transaction for 3 years government will seize money

 Started by OverSword , Feb 27 2013 06:07 PM

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#1    OverSword

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Posted 27 February 2013 - 06:07 PM

This is just unbelievable, I guess if you want to save for a rainy day in australia you have to hide your money in your matress.

From the article:


HOUSEHOLDS face losing up to $109 million from their family savings as the Federal government moves to seize cash from inactive bank accounts.
After legislation was rushed through parliament, the government will from May 31 be able to transfer all money from accounts that have not been used for three years into their own revenues.

http://www.news.com....r-1226585867131
WARNING: don't click here

#2    Eldorado

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Posted 27 February 2013 - 06:14 PM

Further proof, if it was needed, that Politicians worldwide have no shame.

p.s. :(

Edited by Eldorado, 27 February 2013 - 06:14 PM.



#3    Taun

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Posted 27 February 2013 - 06:15 PM

This is just wrong for so many reasons...  Assuming that the account is inactive due to death or some such (the only reason it would be abandoned that I can think of - not inactive - abandoned) the money would rightly belong to the heirs of the deceased - not the politicians...

And then there are the people that just put money away and let it sit drawing interest...

Wow...

As an aside can the people seize the cash of the politicians that have been inactive in office for three years (or ineffective)?...

#4    ExpandMyMind

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Posted 27 February 2013 - 06:45 PM

I've not read the article yet, but this is totally shocking. What the previous 3 posters said +1.
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#5    Hilander

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Posted 27 February 2013 - 06:46 PM

Sounds like a bunch of thieves to me.  What about the heirs or maybe they were putting it back for a rainy day.  They said you could try to get it back but it was a long process.

The article said they were already doing this but it had a 7 year time limit on it before.  Guess they wanted to bump it up to 3 years so they could get at it sooner.

#6    freetoroam

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Posted 27 February 2013 - 07:25 PM

They could use the money to build a replica of the Titanic...




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#7    Kasey2601

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Posted 27 February 2013 - 07:57 PM

Unbelievable.
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#8    Gummug

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Posted 27 February 2013 - 08:04 PM

View PostHilander, on 27 February 2013 - 06:46 PM, said:

Sounds like a bunch of thieves to me.  What about the heirs or maybe they were putting it back for a rainy day.  They said you could try to get it back but it was a long process.

The article said they were already doing this but it had a 7 year time limit on it before.  Guess they wanted to bump it up to 3 years so they could get at it sooner.
THEY WERE ALREADY DOING IT??!!!!   I can't believe the Australian people put up with that. It makes me think the Australians should do what the Icelanders did with their banks! Of course maybe it's more the government in this case than the banks, but one wonders if they're hand-in-glove...at least the big banks. Anyway what a shame. 10 "likes" on all the previous comments!

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#9    Taun

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Posted 27 February 2013 - 08:34 PM

Other than officially protest the 'law' about the best thing to do would be to put up billboards all over the place with their names and faces and in big letters write "THIEVES" and then vote everyone of the rat bastages out of office next election, and put in those who officially state they will correct the insult...

Of course a lot of voters only have a three day memory when it comes to their politicians, so....

#10    Corp

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Posted 27 February 2013 - 08:59 PM

Nothing more than a scummy cash grab. Seems the reason for this is because the current government is going to have a large debt in their next budget so they figure stealing a bunch of money would be the lesser of two evils. Hopefully the public outcry will put a stop to this and they'll be given the boot at the next election.
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#11    Sir Wearer of Hats

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Posted 27 February 2013 - 10:00 PM

There's sod all chance of the Australian government being voted out because the opposition is actually worse.
The best we can hope for is that Julia will be given the boot, but because she's from the Chardonnay Socialist Belt, she'll be fine.

#12    MichaelW

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Posted 28 February 2013 - 05:51 AM

View PostWearer of Hats, on 27 February 2013 - 10:00 PM, said:

There's sod all chance of the Australian government being voted out because the opposition is actually worse.
The best we can hope for is that Julia will be given the boot, but because she's from the Chardonnay Socialist Belt, she'll be fine.

And be replaced with who? Katter? Abbot?
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#13    Black Red Devil

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Posted 28 February 2013 - 07:54 AM

View PostGummug, on 27 February 2013 - 08:04 PM, said:

THEY WERE ALREADY DOING IT??!!!!   I can't believe the Australian people put up with that. It makes me think the Australians should do what the Icelanders did with their banks! Of course maybe it's more the government in this case than the banks, but one wonders if they're hand-in-glove...at least the big banks. Anyway what a shame. 10 "likes" on all the previous comments!

Both the Federal Govt and the State Govts are just a bunch of money laundering thieves.  The problem is that Australians haven't got much of a choice as far as political selections.

There are mainly two/three major political parties, a Right Centre Right wing Coalition, National and Liberal Parties and the Centre Left Labor Party.  There doesn't even appear to be any ideological differences between them anymore.  All they seem to have on their agenda these days is how to sweet talk and screw the taxpayer without them noticing.

The reason Australians don't erupt is because overall the standard of living is very good.  Not thanks to our current political leaders though.  The country has high mineral and natural resources, is only 200 years old and has modern infrastructures (although should be better, specially in Sydney), has good trading partnerships with a populous continent such as Asia at their door, unemployment is fairly low thanks to the concentration of most of the population in the big cities, where there is work.

All these current political monkeys can do is make it worse and they're giving it a good shot too.

Edited by Black Red Devil, 28 February 2013 - 07:55 AM.

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#14    Sir Wearer of Hats

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Posted 28 February 2013 - 08:07 AM

View PostMichaelW, on 28 February 2013 - 05:51 AM, said:

And be replaced with who? Katter? Abbot?
aa I said, Abbot hasn't a damp spit in hell's chnce of winning, Katter's running his own party, so we may get Wayne Swan as PM, maybe onevof Julia's old loyalists.

#15    AsteroidX

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Posted 28 February 2013 - 08:18 AM

Quote

There are mainly two/three major political parties, a Right Centre Right wing Coalition, National and Liberal Parties and the Centre Left Labor Party.  There doesn't even appear to be any ideological differences between them anymore.  All they seem to have on their agenda these days is how to sweet talk and screw the taxpayer without them noticing.

Ive heard this somewhere before but cant remember where. Do you guys in Autz think the $$ figure of 100mil in confiscated accounts is an accurate number ?
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