Nobody wants to see oligarchs getting away with cheating tax laws by handing over briefcases of cash, but if this new law does not affect private transactions that wouldn’t even affect this.
I wonder what supposed ill this is supposed to cure do we know of any examples of businesses that have cheated taxes or whatever else by paying in cash?
I have known of more than one person that has paid for a house in cash and it was a smart move for them, by the time you get done with the mortgage you might end up paying 4 times more.
what supposed ill this is supposed to cure do we know of any examples of businesses that have cheated taxes or whatever else by paying in cash?
Come on. It happens everywhere, particulary in sales of services.
Restaurants not making receipts for a dinner avoid the value added sales tax and company tax. Nobody will notice the food missing.
The cleaner who takes cash doesn’t pay income tax and can underbid the professionals. Nobody will notice that the cleaning has been done.
These might be small amount transactions, but once the pizza restaurant has 100 orders of €100 they have €10k.
Now how are they going to deposit or spend that without questions? They can of course use the cash to pay the cleaner a few times, but the stack of cash is going to increase. So they hire a carpenter to redo the floor. This costs more than €10k, and they pay him in cash. But then what’s the carpenter going to do with the money if he can’t spend it on a new car? He sure isn’t going to eat pizza for €10k monthly. Maybe he can buy drugs illegally, but then the pusher has the problem with the stacks of cash.
By making larger cash amounts illegal it will put a limit on how much cash somebody even wants to accept as payment, even if they’re okay with doing tax evasion and other crimes.
The small stuff transactions will still happen, but the amounts are going to be kept beneath the threshold of what people can actually use legally.
This will make it a lot more difficult for the pusher to launder the money.
The money laundering criminals can no longer make a fake receipt for a €100k grand piano. Now they have to make 10 receipts for €10k upright pianos and at some point somebody is going to question where all those pianos are.
Hundreds of thousands of dollars in $100 bills, I’ve Been Told is actually very bulky.
Now I do not know about that because I’ve never had that kind of money not even fucking close. Sadly.
But it has been Illustrated on some TVs and movies like Burn Notice. Not that I am advocating for that show I’m just saying they made that point on there it’s bulky when you get into large numbers.
You’ve been told correctly, or at least correctly enough that it won’t fit in a pocket. The attached pic is a bundle of 1,000 notes correctly packaged (assuming Canadian, since you said dollars and are on a .ca instance, but it’s similar for most currencies). One of those bundles in 100 dollar notes is, of course, $100,000, so presumably it’s some number between one and ten of those bundles
Nobody wants to see oligarchs getting away with cheating tax laws by handing over briefcases of cash, but if this new law does not affect private transactions that wouldn’t even affect this.
I wonder what supposed ill this is supposed to cure do we know of any examples of businesses that have cheated taxes or whatever else by paying in cash?
I have known of more than one person that has paid for a house in cash and it was a smart move for them, by the time you get done with the mortgage you might end up paying 4 times more.
Come on. It happens everywhere, particulary in sales of services.
Restaurants not making receipts for a dinner avoid the value added sales tax and company tax. Nobody will notice the food missing.
The cleaner who takes cash doesn’t pay income tax and can underbid the professionals. Nobody will notice that the cleaning has been done.
These might be small amount transactions, but once the pizza restaurant has 100 orders of €100 they have €10k.
Now how are they going to deposit or spend that without questions? They can of course use the cash to pay the cleaner a few times, but the stack of cash is going to increase. So they hire a carpenter to redo the floor. This costs more than €10k, and they pay him in cash. But then what’s the carpenter going to do with the money if he can’t spend it on a new car? He sure isn’t going to eat pizza for €10k monthly. Maybe he can buy drugs illegally, but then the pusher has the problem with the stacks of cash.
By making larger cash amounts illegal it will put a limit on how much cash somebody even wants to accept as payment, even if they’re okay with doing tax evasion and other crimes.
The small stuff transactions will still happen, but the amounts are going to be kept beneath the threshold of what people can actually use legally.
This will make it a lot more difficult for the pusher to launder the money. The money laundering criminals can no longer make a fake receipt for a €100k grand piano. Now they have to make 10 receipts for €10k upright pianos and at some point somebody is going to question where all those pianos are.
Did they actually hand over a bag full of cash?
Cause the other alternative isn’t a mortgage, it’s a bank transfer.
Briefcase(s.) Of 100 dollar bills.
But I’m with you, I would have went with the canvas bag with the big money symbol on it but I’m a traditionalist.
100 bills doesn’t need a briefcase. You can carry it in your pocket.
Hundreds of thousands of dollars in $100 bills, I’ve Been Told is actually very bulky.
Now I do not know about that because I’ve never had that kind of money not even fucking close. Sadly.
But it has been Illustrated on some TVs and movies like Burn Notice. Not that I am advocating for that show I’m just saying they made that point on there it’s bulky when you get into large numbers.
You’ve been told correctly, or at least correctly enough that it won’t fit in a pocket. The attached pic is a bundle of 1,000 notes correctly packaged (assuming Canadian, since you said dollars and are on a .ca instance, but it’s similar for most currencies). One of those bundles in 100 dollar notes is, of course, $100,000, so presumably it’s some number between one and ten of those bundles
That fits in the pockets of some jackets.
Some cargo pants can fit a few of them stacks no problem.