Banning electronic sales suppression tools: Tax Office consultation

Hey everybody,

I have been asked to help write a consultation paper with The Tax Institute on this new piece of law...

http://parlinfo.aph.gov.au/parlInfo...toc_pdf/18005b01.pdf;fileType=application/pdf

The problem is that I have no idea what type of electronic sales suppression tools are out there and who knows anything about it. If I get a feel for them I can start to look at the practical impact of this new piece of law.

If you want to pm me on the forum that is fine.

 

So is that like an electronic second set of books? I must admit to being flummoxed!

 

I know a lot about them having lived in the philippines. Give me a call ross.

 

I will do tomorrow.

I am firing blanks so really appreciate your help.

 

Tindr reference?

 

Yes ross if thats the problem id suggest a consult with a urologist

 

I haven't seen it but understand there are tools which suppress eftpos type records that wont report in daily tallies. Black hole stuff not unlike fake EBay accounts and spoofed ip issues.

It's a fraud mitigation issue. Black art stuff. Criminal evasion. Not indifferent to cash fraud

 

@Paul@PFI ive seen how the software works in the philippines and some of it is quite sophisticated. In fact i remember overhearing at a whisky and cigar bar i frequented the POS sales agent asking the owner whether they wanted the zapping technology or not. Thats what led me to ask what zapping technology was and was shown a whole new world.

Its rife throughout asia. A congressman who is a good friend of mine told me it was a major issue in south east asia. The fraud levels are beyond belief. Problem with the philippines as well it actually has the tightest bank secrecy laws in the world. I didnt believe it until a few Swiss bankers who made frequent trips to Manila confirmed it. Once i researched it i found out that it is quite true.

Agreed it is purely a criminal activity but its happening more than some people realise and its very hard to mitigate against.

 

What?

 

I'm sure this type of technology would be rampant in many shopping centre food courts.

They also need to take a good look at businesses operating via serviceseeking, airtasker and so on. The cash economy really annoys me.

 

Yep. However the five eyes could be a issue here. A recent issue in media indicates the NSA and other 5 eyes are using encrypted and sophisticated tools and reading what was believed to be private. I would argue that the 5 eyes are looking at commercial and non commercial tools. They can probably listen to Google home and read private messages. So reading zaps could also be anti terror and b caught. Then shared with the tax agencies. Its like enigma and Japanese code in WW2...80% of Japanese msgs were read. Many ships lost to.protect the secret. Midway was known and ended the Japanesed advance. Months after Pearl Hbr.

I accept that anything online is being read in realtime or a few hours later. Nothing to hide is nothing to fear.

Intel starts as anti terror and Military but is now commercial and tax.

 

Well about time I think. But they probably should first look at tax heavens and transfer pricing closer!

 

Ross The budget proposal to prohibit cash transactions is a further step in the direction the article should address.

 

Old news. On the radar

 

Tax heaven is being the Sultan Of Brunei

 

Problem is they started the abolition of cash a little late now that cryptocurrency is firmly in place.

 

Not really. Crypto is a speculative asset and barely registers from perspective of the transactions and volume.
All the big huff and puff, it’s pretty much a nothing if you check stats. Way more costly than fiat in transaction handling. So bottom line = rubbish.

 

Very interesting. Learning something new every day....

 

I've used Airtasker a few times recently and haven't noticed that the site has an option for cash payment. The cost is deducted electronically by Airtasker when I tell them the job is complete - then Airtasker takes their cut and the rest is transferred electronically to the worker. No cash.

I guess once the worker arrives, you could ask them to do another job for cash (by going outside the Airtasker site) - but not the original job.

 

Churches are the best tax lurk in Australia