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Tuesday, 26 February 2013

UPDATED AGAIN - WHO VOTED FOR IT - Government to raid your bank account after 36 months of no transactions

This is the link to the Hansard records of this bill making its way through the House of Representatives.

You will note some attempts at amendments first up.   Then the final vote that passed the bill into law - a law that lets the government reach into your private bank account and take your money.

Beyond the Labor Caucus who voted in favour, these individuals made this law.

Robert Oakeshott.   Tony Windsor.   Adam Bandt.   Peter Slipper.   Craig Thomson. Bob Katter.

Here they are in all their glory.   Julia Gillard was away

Mr Adams

Mrs Elliot

Ms Livermore

Ms Roxon

Mr Albanese

Ms Ellis

Mr Lyons

Mr Rudd

Mr Bandt

Dr Emerson

Mr McClelland

Ms Saffin*

Ms Bird

Mr M. J. Ferguson

Ms Macklin

Mr Shorten

Mr Bowen

Mr Fitzgibbon

Mr Marles

Mr Sidebottom

Mr Bradbury

Mr Garrett

Mr Melham

Mr Slipper

Ms Brodtmann

Mr Georganas

Mr Mitchell

Mr S. F. Smith

Mr A. S. Burke

Mr Gibbons

Mr Murphy

Ms Smyth

Mr Butler

Mr Gray

Mr Neumann

Mr Snowdon

Mr Byrne

Ms Grierson

Mr Oakeshott

Mr Swan

Mr Champion

Mr Griffin

Mr O’Connor

Mr Symon

Mr Cheeseman

Ms Hall

Ms O’Neill

Mr C. R. Thomson

Mr Clare

Mr Hayes

Ms Owens

Mr K. J. Thomson

Ms Collins

Mr Husic*

Ms Parke

Ms Vamvakinou

Mr Combet

Mr Jenkins

Mr Perrett

Mr Windsor

Mr Crean

Mr S. P. Jones

Ms Plibersek

Mr Zappia

Mr Danby

Dr M. J. Kelly

Mr Ripoll

 

Mrs D’Ath

Ms King

Ms Rishworth

 

Mr Dreyfus

Dr Leigh

Ms Rowland

 

These are the pairs - that is these people were away and their voting intention was equalised by a member of the opposite side not voting.  

Pairs

Ms Gillard                      Mr van Manen

Mr Katter                        Mr Crook

Mr L. D. T. Ferguson     Mr Haase

 

Laurie Ferguson, Julia Gillard and Bob Katter all had a pair from the coalition.   So Bob Katter can be added to the list of people who caused this bill to be made law.

Andrew Wilkie voted with the coalition to try to stop Wayne Swan's cash grab.

 

 

Afr re bank accounts

The Australian Financial Review has a comprehensive piece on the government's cash grab here by Jake Mitchell.

Who are they to think it's OK to reach into your private property like that and take it without your permission?   What's next?

Jake Mitchell reporting in the AFR

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.

Accountant Bryan Lukav oversaw an account for a client that contained the bond for a commercial property. He was advised to withdraw or deposit at least $1. If he didn’t, he was told the government could seize the account.

Mr Lukav said the change would make life difficult for people in business who used these kind of accounts. Trusts and long-term savings accounts are also likely to be caught up in the sweep.

“Imagine if I was looking after 200 property accounts and I had to do that for every one,” Mr Lukav said. “It’s just ridiculous. The bond could sit here for the period of the lease, which could be five, 10 or 25 years and there is no need to withdraw or deposit.”

Jake has quite a lengthy piece that includes what you'd need to do to get your money back, the way the legislation was rushed and a guesstimate that hundreds of thousands of Australians could be affected.

CASH GRAB: Inactive bank accounts to be seized

  •  Stephen McMahon 
  • From:News Limited Network 
  • February 26, 2013 8:58am

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.

The law is forecast to raise $109 million this year as inactive accounts for three years or more are raided by Treasury.

The previous legislation allowed for bank accounts to remain inactive for up to 7 years before the money was transferred to ASIC.

Read the whole story at Perth Now here.

Seriously, where do they get off unilaterally deciding that you can no longer leave a bank account alone for 3 years.   What are they thinking?

 




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Where it Started

Gillard & the AWU scandal

Interview with Bob Kernohan