Re:Currency (Restrictions on the Use of Cash) Bill 2019
by pjc50 on Monday July 29, 2019 @09:06AM
(#20554172)
> What if you wanted to buy a $25,000 car in cash from a dealership? That's not intentionally avoiding taxes. It's trying to get a better deal.
Eh? The normal way you get a better deal by paying upfront is by avoiding the financing costs or convincing them that you're closing the deal immediately - although sometimes the financing makes the dealership money at the expense of the manufacturer, so it could go either way.
All other possible ways of getting a discount for cash involve either tax evasion or fraud (e.g. salesperson gives you 5% off, writes down 10% off in the records and pockets the remaining money).
> It's not unreasonable to want to avoid keeping a lot of money in a checking account in the US.
The bank is insured, while you're not, and at risk of being held up at gunpoint by robbers or the police. Keeping a large amount of physical cash lying around incurs security costs and risks.
Eh? The normal way you get a better deal by paying upfront is by avoiding the financing costs or convincing them that you're closing the deal immediately - although sometimes the financing makes the dealership money at the expense of the manufacturer, so it could go either way.
All other possible ways of getting a discount for cash involve either tax evasion or fraud (e.g. salesperson gives you 5% off, writes down 10% off in the records and pockets the remaining money).
> It's not unreasonable to want to avoid keeping a lot of money in a checking account in the US.
The bank is insured, while you're not, and at risk of being held up at gunpoint by robbers or the police. Keeping a large amount of physical cash lying around incurs security costs and risks.