Three Men On a Boat

Friday, October 10, 2008

the dollar catches fire as the Reserve Bank flip flops over transfers

So there was another change in the way money moves this morning. 

- Cheques will clear in twenty-four hours
- RTGS will be permissible between:
- banks
- accounts held by the same individual
- corporates and their employees for payment of salaries

Now what that might do is suddenbly have loads of people being employed by people they do transactions with so that they can technically not break the law.

My worry has always been the lax law systems in place. There are many people passing money under the table and no taxes are being paid for some of the most ridiculous transactions. 

there are so many loopholes in the current system it is almost as good as not having one. Am not a fan of taxes but the electricity and water and the lot have to be paid for you know...

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posted by 3Men On a Boat at 2:37 PM

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