4 Mar 2013

Feral Australian Government Starts Robbing Bank Accounts

Weird body language
You have to wonder why Feral PM Gillard wants to set-up a crime fighting taskforce when Australia's biggest criminals are our major political parties. They have declared economic war on the population. From News.com
"Housholds 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.
This will mean that accounts with anything from $1 upwards that have not had any deposit or withdrawals in the past three years will be transferred to the Australian Securities and Investment Commission. The law is forecast to raise $109 million this year as inactive accounts for three years or more are raided by Treasury. The money can be reclaimed from ASIC but the process can take months.
Experts warn this will have a negative impact on people that may have put money away in a special account for their children's education or decided to put an inheritance in a separate account for a rainy day.
The previous legislation allowed for bank accounts to remain inactive for up to 7 years before the money was transferred to ASIC.
This cash grab comes as economists warn the government is on track to hand down a $15 billion budget deficit in May as company tax receipts collapse.
Before Christmas, Treasurer Wayne Swan junked the government's previously "rock solid" promise to produce a surplus in 2012-13."

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