Thursday, April 2, 2015

Woman punched, sexually assaulted as men hurl abuse at her in Melbourne laneway, police say

A woman has been sexually assaulted by a man while three others hurled verbal abuse at her in a laneway in Melbourne's CBD.

The 20-year-old woman was walking home from work along Latrobe Street when she stopped at the entrance of Eagle Alley to get cigarettes from her bag around 11:50pm on March 10.

Addie, which is not her real name, said she did not hear the men come up behind her.

"I had my headphones in, music really loud so as soon as I was actually approached from behind and felt the guy behind me, that's when I realised something was up," she said.

"He came across very aggressively from the start.
It was a very scary thing to be in that situation, something I'd never imagined myself having to deal with.
Victim of sexual assault

"The way in which they were speaking was very inappropriate, very threatening."

Addie said she was grabbed by the skirt and sexually assaulted before being punched in the face when she tried to fight back.

"In reaction to that, I've attacked him and just bolted," she said.

"I had a pretty bad black eye for a few weeks, that was it luckily for me."

Addie said the other men were leering in the background as she was attacked.

"There were four of them and one of me — being fully grown men, they should know better," she said.

Addie said she was now too frightened to walk home from work.

"I always catch a taxi home now, as difficult as it is to get one, but definitely taxis from now on," she said.

"It was a very scary thing to be in that situation, something I'd never imagined myself having to deal with so, very nerve-wracking."

An image of a man wanted in relation to a sexual assault in Melbourne  
 
 

The four men are described as Caucasian, in their mid 30s and were wearing dress shirts and jeans at the time of the assault.

Detective Sergeant Shane Manuell said they have not been able to obtain any CCTV of the attack or the men responsible.

"We've searched high and low in relation to CCTV but we're also appealing to anyone who may have CCTV from their businesses or in that area, if they could come forward and let us know that'd be great," he said.

"All she was doing was walking home from work and this has happened so it's something we're taking extremely seriously."

abc.net.au 2 Apr 2015

Thankfully for the Australian government's thoughtful action in terms of crime prevention, namely the government decided to keep people's 'metadata' to solve crime.

Now we can all be assured that the perpetrators of this disgraceful crime will be caught.

Wednesday, April 1, 2015

Magistrates' Court Jurisdiction



There is NO DOUBT that the judicature in Australia is literally corrupt to the core, and the slate should be wiped clean only to start from scratch.

There is little 'chatter' from the corporate media on this topic, or even on significant court cases that the corporate media's reporters attend but do not make public.

The Magistrates' Court, a place of business, trading and commerce has literally NO jurisdiction over you, if you do not let it.



The following post has been reproduced with the permission from the original author, with minor editing.

I had a constitutional barrister talk with me over my matter in the Frankston magistrates court on the 1st April. He informed me that all Magistrates’ Courts only recognise and run under "state constitutions" and they only acknowledge the charges brought to them and make their decisions on case law of the charges, NOT YOUR RIGHTS UNDER THE LAW, a defence under federal constitution will not be looked at, and they will only hear a defence under the act that you have been charged under.

He stated that you have to challenge the Act’s legitimacy (Road Safety Act etc) and the state Constitution’s legitimacy for your defence.

so ok I’ve done that before.

For my matter the Victorian Constitution of 1975 where the court draws its power to act from, is not a valid constitution because the 1855 constitution could only be amended not "repealed" so that makes the 1975 Victorian constitution invalid, and whereas the 1855 constitution did not receive royal assent either and was enacted by British parliament so that makes that null and void as well.

Reason the 1855 Constitution is not valid is because of the fact that Australia is the only Commonwealth nation that has no treaty with its original tribes to bring a de jure law from England and make it valid in this country............... that’s what a treaty is for to secede the original lore of a land to a new law of a foreign land namely England.

So, since this has never been done, you could state that NO legislation that draws its power from a state Constitution is valid via no treaty to give it any force of law....... and must be challenged to get it out of the Magistrates’ Court and into a court that will look at your evidence and defence.

And the way to do that is to challenge the validity of the legislation you’re been charged under,       by the Magistrates Court Act.

Stating that the Road Safety Act (1986) is not in accordance with section 92 of the 1901 Constitution will not be acknowledged as a defence, because the Magistrates’ Court only recognises the state Constitutions not federal.

I don’t see a reason that you will need to treaty 1st to play this, only to know the fact that until there is a treaty to extinguish the original lore of this land, a foreign law or a law that replaced it like they have today, has any effect or basis in law by means of NO TREATY to give any law of the Commonwealth (even commercial law) power.

Magistrates' Court Act 1989 - SECT 100

100. Extent of jurisdiction

(2) The Court does not have jurisdiction in any cause of action- 

(a) in which the effect of, or the validity or invalidity of, any act, matter or thing done or omitted to be done by any person or body whatsoever in the exercise or purported exercise of any power or duty conferred or imposed on that person or body or purportedly conferred or imposed on that person or body by or under- 

(i) any royal prerogative; or 
(ii) any statute- is sought to be determined or declared; or 

(b) in the nature of a proceeding for a prerogative writ; or 

(c) brought on a judgment of the Supreme Court or the County Court.

I believe that since the police ‘prostituion’ office are not lawyers or barristers they can't run a matter under a Chapter 3 court under the federal Constitution, so since the state Constitution is the instrument that gives the powers of the court and cops authority to run, they run under that .

So, if you challenge the validity of the statutes the charges draw their power from and apply for a Constitutional challenge under Section 100 Subsection 2 of the Magistrates’ Court Act, the ‘prostitution’ can’t act and has to hand it over to the DPP, then you would challenge the validity of the Constitution by means of Ultra Virus because of no treaty to use the Crown’s law here in a higher court.

I had the ‘prostitute’ walk in the courtroom without her brief today, after being a typical hero cop bitch last week, I walked up to her yesterday and told her that I’m seeking applications under Section 100 sub 2 for a Constitutional matter and she was quite the different lady, still a chip on her shoulder but not so bitchie, now the matter is listed for a contest hearing on the 1st July, and the Magistrate told her on 3 occasions that the problem that she is going to have is getting me TO CONSENT TO THE JURISDICTION of the court, so he listed it for a contest hearing, and acknowledged me for stating that I will be filing for malicious prosecution, and she said that she will be dropping the not following bail requirements charge, because they sent it to the wrong address.

So alls good so far.

I have MR CRISP as a magistrate, he charged and jailed someone for contempt of court for blowing a bubblegum bubble in court, only to have it dropped on appeal............... but the guy sat in lock up for 12 days before the appeals court day ............... so his a prick................. even the barrister told us that his mad, and he said the he was a shit barrister and a worse magistrate................ so where it goes from here no one knows.

Source supplied.

Tuesday, March 31, 2015

The start of a 'new world order'?

China has scored a ‘diplomatic coup’ by causing US allies to break ranks and join a new r
China has scored a ‘diplomatic coup’ by causing US allies to break ranks and join a new regional bank. Pictured, job seekers in Beijing. Source: AP
 
WHEN people try to pinpoint the start of a ‘new world order’ they could look to March 2015. 

This week, Australia announced it would sign on to China’s plans to create a new Asian Infrastructure Investment Bank to rival global institutions like the World Bank and International Monetary Fund.

But far from being some boring economic plan, the bank — which aims to address the $8 trillion infrastructure gap and provide $100 billion for new roads, bridges and ports in Asian economies — could usher in a new phase of regional influence for China without US involvement.

UNSW’s Institute of Global Finance director Fariborz Moshirian said China’s massive foreign exchange reserves and desire for more power have driven Beijing’s plan.

“China is trying to use economic muscle and also in a sense it’s a reaction to the Bretton Woods institutions like the IMF and World Bank. They are seen as US and European children and China wants to make their own mark.”

“It’s sort of a byproduct of the rise of the financial strength of China ... We’re going to see more of this kind of influence because China can afford now to take part of this kind of activity.”

Treasurer Joe Hockey said the bank will be a truly global institution: Picture: Photo: Ti
Treasurer Joe Hockey said the bank will be a truly global institution: Picture: Photo: Tim Marsden Source: GoldCoastBulletin
 
Overnight, Japan, Taiwan and Egypt expressed interest in become founding members taking the total number of countries involved to more than 40. They’re the latest in a flood of traditional US allies who have signalled intention to join including Australia, Britain, New Zealand, France, Germany, Switzerland and South Korea.

It leaves the US the only major economy not involved, a decision described as “problematic at best and churlish at worst” by Brookings Institution analyst Jonathan Pollack. It comes after the US waged a lobbying campaign against the plan citing concerns over how the bank will be managed.

Professor Moshirian said the fact the US is now the only holdout is a clear sign US allies are not willing to stand by at the expense of their own economic development, with many European partners saying “if you can’t beat them, join them.”

“They don’t want to be isolating themselves. They’ve got very close links with China in terms of trade and investment and why shouldn’t you? If money is being thrown about by China why shouldn’t they grab it? China is becoming strong so why should you isolate yourself?”

The Asian region is home to some of the world’s fastest growing economies and is home to
The Asian region is home to some of the world’s fastest growing economies and is home to nearly 1 billion middle income consumers. Picture: WANG ZHAO. Source: AFP
 
Australian Institute of International Affairs’ Ashley Rogge said the mass influx has left the US feeling “embarrassed” after stalled IMF reforms mean the US missed an opportunity to give China greater say in existing organisations.

“If there’s any reason for them to be embarrassed it’s for that reason,” she said. “They had the opportunity to encourage China in a cooperative manner [but] they kind of forfeited that as these reforms have stalled.”

“These new institutions are now being created because they have dropped the ball. Now they’ve created this opposition which is the total opposite of they wanted.”

The bank plans to raise more than $100 billion for regional infrastructure projects. Pict
The bank plans to raise more than $100 billion for regional infrastructure projects. Picture: AP: Source: News Limited
 
Details over where the bank will based and how it will work are still underway with more discussions expected before countries formally sign on. However joining the negotiations early means they will receive a greater say in how the bank is shaped.

Prime Minister Tony Abbott said on Sunday progress in terms of transparency and governance prompted Australia’s late decision to apply for membership. However he stressed that key matters like authority over major investments and who has ultimate control still need to be resolved.

Treasurer Joe Hockey said interest from other countries also helped.

“(It) has been encouraging for Australia to know that it truly is a global organisation,” he said. “We could massively increase our exports of iron ore to India if there were better port facilities.”

Overnight, US Treasury Secretary Jack Lew said Washington wants the new AIIB to partner with other Washington-based institutions on projects, with officials still worried about how lending will take place.

Professor Moshirian said while the door is likely to remain open to US involvement, the reality is China has the money and partnerships to do it anyway.

“China will go ahead regardless of US. If the US joins it fine, if not China will set the tone for this entity anyway.”

Chinese President Xi Jinping said China will spend more than $640 billion investing in other countries in the next five years and “being a big country means shouldering more responsibility for world peace and development.”

The deadline for countries to apply to join the bank is 31 March.

news.com.au  31 Mar 2015

Is this the mainstream's media taking the 'piss' out of the 'conspiracy theorists'?

The 'New World Order' has been in place for decades.

It has been mentioned by many a U.S President.

Monday, March 30, 2015

Promissory Note

What is a promissory note?

A promissory note is a negotiable instrument, wherein one party (the maker or issuer) makes an unconditional promise in writing to pay a determinate sum of money to the other (the payee), either at a fixed or determinable future time or on demand of the payee, under specific terms. Promissory notes differ from IOUs in that they contain a specific promise to pay, rather than simply acknowledging that a debt exists. In common speech, other terms, such as “loan,” “loan agreement,” and “loan contract” may be used interchangeably with “promissory note” but these terms do not have the same legal meaning.

Referred to as a note payable in accounting, or commonly as just a “note”, it is internationally regulated by the Convention providing a uniform law for bills of exchange and promissory notes. Bank note is frequently referred to as a promissory note: a promissory note made by a bank and payable to bearer on demand. 

Historically, promissory notes have acted as a form of privately issued currency. The first evidence of a promissory note being issued is that which Ginaldo Giovanni Battista Stroxxi issued in Medina del Campo (Spain), against the city of Besançon in 1553. However, there exists notice of promissory notes being in used in the Mediterranean commerce well before that date. Tradition has it that the first one ever was signed in Milan in 1325.

The terms of a note usually include the principal amount, the interest rate if any, the parties, the date, the terms of repayment (which could include interest) and the maturity date. Sometimes, provisions are included concerning the payee’s rights in the event of a default, which may include foreclosure of the maker’s assets. 

Demand promissory notes are notes that do not carry a specific maturity date, but are due on demand of the lender. Usually the lender will only give the borrower a few days notice before the payment is due. For loans between individuals, writing and signing a promissory note are often instrumental for tax and record keeping.



Commonwealth Consolidated Acts


BILLS OF EXCHANGE ACT 1909 - SECT 89

Promissory note defined
 
             (1)  A promissory note is an unconditional promise in writing made by one person to another, signed by the maker, engaging to pay, on demand or at a fixed or determinable future time, a sum certain in money, to or to the order of a specified person, or to bearer

             (2)  An instrument in the form of a note payable to maker's order is not a note within the meaning of this section unless and until it is indorsed by the maker. 

             (3)  A note is not invalid by reason only that it contains also a pledge of collateral security with authority to sell or dispose thereof. 

             (4)  A note which is, or on the face of it purports to be, both made and payable within Australasia is an inland note. Any other note is a foreign note.

Ref:  http://www.austlii.edu.au/au/legis/cth/consol_act/boea1909148/s89.html

Sample of a Promissory Note:

https://drive.google.com/file/d/0B21_coIgIYu2OTNoVWxlZXlsdWs/view?usp=sharing

2500 metadata 'cops' to search phone and internet records

EXCLUSIVE

Insists legislation contained "strengthened safeguards": Senator George Brandis.
Insists legislation contained "strengthened safeguards": Senator George Brandis. Photo: Andrew Meares
 
About 2500 officials across the country will be able to sign off on access to Australians' phone and internet records under the Abbott government's new "metadata" laws passed last week.

A detailed analysis by Fairfax Media has found the great majority of people empowered to approve requests for so-called communications metadata are police officers.

Such data can be accessed from telco firms without a warrant, however the application has to be approved by a senior officer or official.

NSW Police leads the way with more than 900 senior officers able to sign off on junior colleagues' requests to get data. Victoria Police have more than 400 officers who meet the threshold of seniority to approve the requests and Queensland Police more than 300.

The Australian Federal Police have 190 sworn officers who can authorise requests, though a spokesman said fewer than 55 did so in the regular course of their jobs.

Under the controversial new laws that received final ratification by the Senate on Thursday night, phone and internet companies will be forced to keep customers' data – such as the origin, destination and time of phone calls, text messages and emails – for at least two years.

It does not include the content of communications, access to which requires a warrant.

Police and other agencies say metadata is a vital tool in most investigations. But they say their powers are gradually eroding in the digital age as telco firms, which increasingly charge customers on flat rates or by the amount of data they use, wipe records of individual communications after as little as a few days.

The 22 agencies who will be able to access metadata under the new laws is actually fewer than the roughly 80 who can do so currently. As a trade-off under the new laws,  Attorney-General George Brandis limited the number of agencies to crucial crime-fighting and national security bodies, removing groups like the RSPCA and local councils.

But privacy advocates say the stakes are higher under the new laws because compulsory retention will create an ever-growing pool of data that is open to misuse.

George Williams, a law professor at the University of NSW, described the 2500 officials as "a remarkably high figure".

"This affirms the need for more than a self-serve model of access to metadata," he said. "The absence of external checks is very concerning … Limiting metadata approval to more senior people within these organisations would be a start, but I do not think that would be sufficient. It is well accepted in other comparable areas that external checks and oversight is required in regard to the decision to access sensitive, private material."

Senator Brandis said after the legislation passed that it contained "strengthened safeguards" including new oversight powers for the Commonwealth Ombudsman.

Fairfax Media contacted all of the 23 agencies that are listed in the legislation as being able to access metadata under the new laws. Most supplied information on how many of their staff could approve requests.

Most state police forces authorise officers at the rank of Inspector and above to approve requests.

In addition to police forces, the Australian Taxation Office has 276 senior staff who can approve requests, the Australian Crime Commission has 21 staff, the Australian Competition and Consumer Commission has three staff and the NSW Independent Commission Against Corruption has eight staff.

The Australian Customs and Border Protection Service refused to say how many of its staff approved access to people's metadata, but its latest annual report shows it has 65 staff at Senior Executive Service level – typically the level required to authorise requests.

A range of integrity and anti-corruption agencies can also access metadata, generally with fewer than 10 staff empowered to approve access.

On the request of a Parliamentary inquiry into the new laws,  Senator Brandis amended the government's legislation to state that officials approving access requests must "be satisfied" that the invasion of privacy is justifiable and proportionate.

theage.com.au  29 March 2015

Another example that one is living in the Police State of Australia.

'Criminals' will still continue to operate, and drug cartels will continue to flourish, as the 'authorities' are laced with bribery money.

The Attorney General, George Brandis, another criminal up for alleged treason.

Another farcical law.

Melbourne luxury hotel drug trafficker Melinda Hansen avoids jail

Melinda Hansen outside the Melbourne Magistrates’ Court. Picture: Andrew Henshaw
Melinda Hansen outside the Melbourne Magistrates’ Court. Picture: Andrew Henshaw
 
A SNAP-happy former private schoolgirl who trafficked drugs from a luxury Melbourne hotel room and a Toorak rehabilitation centre while on bail for drug crimes has avoided jail. 

Melinda Hansen, 26, was arrested last June after police discovered ice-manufacturing equipment — including notebooks with methylamphetamine recipes penned in pink ink — in a dramatic raid on room 103 of The Olsen Hotel in South Yarra.

Earlier this week, Hansen pleaded guilty to trafficking drugs over a 15-month period and possessing equipment and documents used in the manufacture of methylamphetamine.

Today she was convicted and sentenced to an 18-month community corrections order and must perform 200 hours of unpaid community work.

Magistrate Charlie Rozencwajg said it was of “significant concern” that Hansen was trafficking drugs from rehab and the hotel while on bail for drug possession offences, as well as when she promised the court she would be of good behaviour and after that time.

He said the fact people with access to cash thought they could get away with their criminal charges “by playing the game of rehab is disturbing”.

The magistrate said Hansen was not a truly pathetic drug-addict, but chose to sell drugs from a fashionable hotel.

Melinda Hansen at an earlier court appearance. Picture : Mike Keating.Melinda Hansen at an earlier court appearance. Picture : Mike Keating.
 
“It may accurately be said that we are talking lifestyle choices,” Mr Rozencwajg said.

Defence counsel Marita Altman earlier told the magistrate not to be “fooled” by Hansen’s neat, pink handwriting, which she credited to her education at Tintern Girls Grammar School, as “the rest of her life (was) in absolute chaos”.

At a hearing last year, police alleged two mobile phones in Hansen’s possession contained incriminating photos of her with drugs, scales and wads of cash.

Melbourne Magistrates’ Court heard Hansen’s phone contained more than 300 text messages related to drug dealing.

Assorted chemicals and drug-making equipment, including flasks, protective masks and coveralls, were also seized in the June 20 search.

In the raid, police recovered seven deal bags containing 27.2 grams of a substance they believed to be the drug ice, but forensic tests later determined the pure weight to be just .2 of a gram.

Ms Altman told the court Hansen suffered from bipolar disorder and ADHD and came back from a two-year stint in London in 2012 “with a raging cocaine addiction”.

She said her client, who spent only 18 days in custody before being bailed, had been punished enough by the publicity surrounding her case.

Mr Rozencwajg said she would be further punished by conditions on her CCO, which restrict where she can live, impose a night-time curfew and force her to undergo treatment for drugs and mental health issues.

heraldsun.com.au  20 March 2015

Rozencwajg is another criminal judge that should be expelled from 'work'.

This is the result of a corrupt government and corrupt judicature in action.

Comments from social media in relation to this article:


COURTS DETERMINE DRUG TRAFFICKING AND MANUFACTURE LESSER CRIME THAN ROAD INFRINGEMENTS OR INSIDER TRADING

That's right Infringers. Whilst trafficking drugs in some countries seemingly is going to result in multiple bullets fired through your heart despite any attempts you might make over a decade to rehabilitate yourself, in Victoria this week we're seen Magistrate Charlie Rozencwajg let the devastating drug Ice manufacturer and trafficker Melinda Hansen off with not so much as a fine after she pleaded guilty in court WHILST ON BAIL for similar offences. In the same week insider trader Lukas Kamay was sentenced to seven years and three months jail with a non-parole period of four years and six months for stripping cash from the currency markets. His buddy who passed the information to him from the ABS only made a few thousand dollars for his leaks but was jailed for three years and three months with a non-parole period of two years.

But earlier this week, drug queen and ex Tintern Girls Grammar School student Hansen pleaded guilty to trafficking drugs over a lucrative 15-month period and possessing equipment and documents used in the manufacture of methyl amphetamine. Yesterday she was convicted and sentenced to an 18-month community corrections order and must perform 200 hours of unpaid community work. Sweet. The magistrate said Hansen was not a truly pathetic drug-addict, but chose to sell drugs from a fashionable hotel. “It may accurately be said that we are talking lifestyle choices,” Mr Rozencwajg said. LOL. Sounds like a reasonably nice lifestyle....trading from the Olsen Hotel!

So for those battling with Civic Compliance payment plans, or having the Sheriff banging on the door over unpaid tolls and wanting to cart you off to jail unless you pay up on the spot, or those having their car registration cancelled for not paying fines resulting from having not voting in a council election, or maybe those small business owners that have been slapped with a $2952 fine for a speeding offence that was incurred in a company vehicle that the (maybe former) employee refuses to pay, or those that have lost their licence and consequently their job after accruing demerit points for petty camera infringements and now look like losing the house, maybe magistrate Rozencwajg is showing us the way forward.

Rent a luxury apartment in a swanky hotel, manufacture and traffic drugs from there and even if you get caught and bailed you can be confident that you can forge on for 15 months and if you get busted again you'll just do a few weeks community service. Don't leak or act on financial info though....or get pinged doing 43kph in a 40 zone....

Sounds like a plan Infringers!

Sunday, March 29, 2015

Moss report reveals toxic culture of abuse and cover-up on Nauru

The release of the Moss Report has reaffirmed a series of shocking allegations of abuse directed at women and children on Nauru and cleared Save the Children staff of any wrongdoing when raising these allegations, the Australian Greens have said.

"The allegations of abuse in this report are shocking and mirror what we've been hearing for months now," the Greens' immigration spokesperson, Senator Sarah Hanson-Young said.

"This report contains accounts of children as young as three being abused, young girls too scared to come forward after being assaulted and threats of rape made to women who are about to be resettled on the island.

"While revealing a toxic culture of abuse, many of these accusations remain unsubstantiated because of the lack of information coming out of the Nauru camp.

"The government needs to end the pervasive culture of cover-up and concealment that reigns supreme in these centres. What we do know from this heavily redacted report is that many Transfield and Wilsons staff have lost their jobs in the centre. I have significant doubts that the Nauruan legal system will hold those people to account.

"This report has shown that there is no evidence of the inappropriate behaviour that Save the children staff were accused of and fired for. The government should apologies to these wrongly accused staff immediately.

"This report is bad news for the government and, after sitting on it for weeks, the Minister has chosen to dump it late on the day former Prime Minister Malcolm Fraser has died. I didn't think the Liberals could sink much lower, but this behaviour shows that they are shameless."

greens.org.au  20 Mar 2015

The corruption of the Australian government literally known no boundaries.

The report (86 pages at 4.1MB) has been uploaded to CorpAu's Google drive at the following address:

https://drive.google.com/file/d/0B21_coIgIYu2TEpvVW9oTWhYc2M/view?usp=sharing

The Constitution Act 1975

For those who are researching the validity of law in Victoria, Australia.

The document contained in the pdf is in relation to the invalid "Constitution Act 1975".

It is available for download at the following link:


We invite the mainstream media to follow, investigate or report on the validity of law (not only in Australia) but particularly in Victoria.

Would the mainstream media report on a seemingly insignificant court case challenging a 'parking fine' that exposes the validity of law in Victoria?

Source supplied.

Surveillance in Public Places

What most people may be struggling to comprehend is that the Australian government is a fascist dictatorship.

People literally do not have any say whatsoever with regards to laws being created, despite the fact that the masses are taught that they live in a democracy, and contrary to what the true premise of government is supposed to be in this country i.e. a representative of the people, enacting the WILL of the people, with the Westminster system of law in place.

The current hot topic is 'metadata' and intrusive surveillance.

A report has been completed by the Victorian Law Reform Commission on the topic of surveillance.

The report is called SURVEILLANCE IN PUBLIC PLACES Final Report 18

It is 180 pages long taking up 3.4MB and is available for download at:

https://drive.google.com/file/d/0B21_coIgIYu2TzJ2TmFHcVk4Mkk/view?usp=sharing

Federal Government set to introduce tax on bank deposits


The Federal Government looks set to introduce a tax on bank deposits in the May budget.

The idea of a bank deposit tax was raised by Labor in 2013 and was criticised by Tony Abbott at the time.

Assistant Treasurer Josh Frydenberg has indicated an announcement on the new tax could be made before the budget.

The Government is heading for a fight with the banking industry, which has warned it will have to pass the cost back onto customers.

Mr Frydenberg is a member of the Government's Expenditure Review Committee but has refused to provide any details.

"Any announcements or decisions around this proposed policy which we discussed at the last election will be made in the lead up or on budget night," he said.

Speaking at the Victorian Liberal State Council meeting Mr Abbott has repeated his budget message, focusing on families and small businesses.

"There will be tough decisions in this year's budget as there must be, but there will also be good news."

The banking industry has raised concerns about a deposit tax, saying it will have to pass the cost back onto customers.

Steven Munchenberg from the Australian Bankers' Association said it would be a damaging move for the Government.

"It's going to make it harder for banks to raise deposits which are an important way of funding banks. And therefore for us to fund the economy," he said.

"And we also oppose it because particularly at this point in time with low interest rates a lot of people who are relying on their savings for their incomes are already seeing very low returns and this will actually mean they get even less money."

Bank deposit tax will break election promises: Labor

The Federal Opposition has accused the Government of breaking an election promise by planning to introduce a tax on bank deposits.

The former Labor Government put forward the policy in 2013 to raise revenue for a fund to protect customers in the event of a banking collapse.

Shadow Assistant Treasurer Andrew Leigh said Treasurer Joe Hockey criticised the proposal at the time.
"When we put it on the table Joe Hockey said that it was a smash and grab on Australian households just aimed at repairing the budget," he said.

"I don't think we're going to take any lessons on bipartisanship from Joe Hockey. If he's got any serious proposal to put on the table Labor will respond to that."

abc.net.au  28 Mar 2015

The actions of a fascist dictatorship.

Worse than the so called 'evil' Communism?