Godlike Productions - Discussion Forum
Users Online Now: 2,380 (Who's On?)Visitors Today: 314,168
Pageviews Today: 931,711Threads Today: 454Posts Today: 9,066
12:05 PM


Rate this Thread

Absolute BS Crap Reasonable Nice Amazing
 

The Australian Governments money grab from the people

 
Earthman
Offer Upgrade

User ID: 19789610
Australia
02/26/2013 09:40 PM
Report Abusive Post
Report Copyright Violation
The Australian Governments money grab from the people
I REALLY CANNOT BELIEVE THIS IS TRUE

FUCK EM

This is a ruthless attempt to steal from the people.

Fuck these greedy cunts.

Aussies please make viralah

[link to www.afr.com]

Thousands of bank account holders are being advised to make trans­actions of as little as $1 to avoid ­having their accounts transferred to the Australian Securities and Investments Commission to help plug the federal government’s budget deficit.

Under recent changes to the law designed to raise $109 million this financial year, deposits can be deemed unclaimed if a transaction has not been made on an account for three years or more, down from seven years previously.

Trusts and long-term savings accounts are also likely to be caught up in the sweep.wtf

Westpac Banking Corp told customers in a recent letter: “We encourage you to transact (even a minimum of $1.00) on the account listed above within the next 72 hours otherwise you may be at risk of having the balance in this account transferred to the Australian Securities and Investments Commission (ASIC), which will occur on ASIC’s request.”

The letter said interest payments, fees and charges were not considered a transaction that could prevent the balance from being classified unclaimed. People whose money is transferred to ASIC can get it back if they can prove it is theirs.

TIME FOR A TIN IN THE SCRUBbad_egg
Anonymous Coward
User ID: 22004273
Australia
02/26/2013 09:52 PM
Report Abusive Post
Report Copyright Violation
Re: The Australian Governments money grab from the people
deposits can be deemed unclaimed if a transaction has not been made on an account for three years or more, down from seven years previously.
 Quoting: Earthman


they've been doing it for years, just like the article you quoted says.





GLP