Going cashless

[Kaapie]

How is it the consumer’s problem?

We have cash. Not talking about salaried peeps getting their monthly eft, though some prob have a side hustle too. . The many of us who either have own business taking cash, or those hustling out here. Also giving cash is very much a tradition/culture thing for us, Weddings, people going away, gifts, Eid etc.

Everything is better for the consumer. Things are cheaper, safer and more effective.

Not 100%. Ever been to a stall/ shop, and they actually tell you it's cheaper if you pay cash?

They get to pay and pay again? Wat?

Lat month I was charged just over 2k in cash deposit fees, and that is without uisimng the huma teller that is more expensive. . So I actively look to spend cash. Choose COD on Takealot where I can, pay suppliers where I can, This is also becoming less with more clearly stating EFT only.

There literally aren’t downsides here.

And everything should be taxed. That shouldn’t be an objection, again only the bad guys get affected here.

Tax Avoidance and pushing 'other' purchases into a 'claimable' bracket has been easier for me.
Paye, Company tax, STC, Income tax, CGT, VAT, I feel we are literally paying tax on taxed money.

Also, you pay with your card at Checkers so why the fake protest?

Cash wherever I can.

BUT you are right. It will be easier and quicker tallying stuff and accounting for sure. BUT..do I want it?
Spare a thought for us operating in the lower end of the economic environment. Cash still reigns.

 

[SauRoNZA]

We have cash. Not talking about salaried peeps getting their monthly eft, though some prob have a side hustle too. . The many of us who either have own business taking cash, or those hustling out here. Also giving cash is very much a tradition/culture thing for us, Weddings, people going away, gifts, Eid etc.

So stop taking cash and giving cash. This is literally in your power to change.

Not 100%. Ever been to a stall/ shop, and they actually tell you it's cheaper if you pay cash?

That type of “cash” means non-card due to the fees and EFT or eWallet or Geopay is the same kind of cash. This is also less and less of an issue with all the modern ways to pay.

Lat month I was charged just over 2k in cash deposit fees, and that is without uisimng the huma teller that is more expensive. . So I actively look to spend cash. Choose COD on Takealot where I can, pay suppliers where I can, This is also becoming less with more clearly stating EFT only.

Again, stop taking the cash and you solve your own problems here.

Tax Avoidance and pushing 'other' purchases into a 'claimable' bracket has been easier for me.
Paye, Company tax, STC, Income tax, CGT, VAT, I feel we are literally paying tax on taxed money.

Aah so you are one of the bad guys and want cash to stay around so you can carry on doing the dodgy stuff without paying your dues.

You don’t pay tax on anything already taxed other than VAT and the more above board you are the more rebates and legitimate tax reductions you can do so it goes both ways.

BUT you are right. It will be easier and quicker tallying stuff and accounting for sure. BUT..do I want it?
Spare a thought for us operating in the lower end of the economic environment. Cash still reigns.

Also consider you have no security on that cash other than what you provide yourself. When it gets taken from you it’s gone, whether by a person or a fire etc. It could sink your ship very quickly.

It’s a one way street to getting stuck in lower end of the economic environment forever by not moving forward and getting with the times.

More people will avoid a business only taking cash than people will avoid a business only taking electronic payments.

 

[backstreetboy]

 

[Dretastic06]

vax vs anti vaxx allover again

 

[ShloshMalosh]

tipping the cashier in cash is a legitimate strategy...

 

[ShloshMalosh]

We have cash. Not talking about salaried peeps getting their monthly eft, though some prob have a side hustle too. . The many of us who either have own business taking cash, or those hustling out here. Also giving cash is very much a tradition/culture thing for us, Weddings, people going away, gifts, Eid etc.

Not 100%. Ever been to a stall/ shop, and they actually tell you it's cheaper if you pay cash?

Lat month I was charged just over 2k in cash deposit fees, and that is without uisimng the huma teller that is more expensive. . So I actively look to spend cash. Choose COD on Takealot where I can, pay suppliers where I can, This is also becoming less with more clearly stating EFT only.

Tax Avoidance and pushing 'other' purchases into a 'claimable' bracket has been easier for me.
Paye, Company tax, STC, Income tax, CGT, VAT, I feel we are literally paying tax on taxed money.

Cash wherever I can.

BUT you are right. It will be easier and quicker tallying stuff and accounting for sure. BUT..do I want it?
Spare a thought for us operating in the lower end of the economic environment. Cash still reigns.

agree

there must be a balance in terms of ones right to privacy

No one is obliged to keep banks informed about how and where they spend THEIR money.

 

[Tim_vb]

agree

there must be a balance in terms of ones right to privacy

No one is obliged to keep banks informed about how and where they spend THEIR money.

Having worked at banks i'm always amazed at how people think the banks even know (never mind care) where Joe Soap spends their money. No one cares you if spent R100 on condoms at Clicks or on EFF donations

 

[Bliksis]

A casual worker couldn't buy a soda at a local OK. He only had cash. Can you believe that

 

[FiestaST]

When my dear granny gives me some birthday bucks, it’s physical bucks.

I will dare not ask her to e-wallet me.

 

[OutlawJoseyWales]

I just looked through my records and realised that I last withdrew cash at an ATM on 31 Oct 2021.

I seem to have gone cashless without realising it.

If it were not for my wife, carguards and the like would starve. Even the parking attendants in Stellenbosch take card payments and vendors who don't have card machines will take SnapScan or equivalent. My occasional garden engineer is paid via EFT.

Does anyone else still handle cash?

Just go to the bank and withdraw some R2s, R5s or whatever you give car guards and keep them in your car.
I wouldn't swipe my card anywhere but a shop I'm certain won't clone my card or some such.

 

[quovadis]

Just go to the bank and withdraw some R2s, R5s or whatever you give car guards and keep them in your car.

All those coin tippers can become spare change ballers…

 

[SauRoNZA]

A casual worker couldn't buy a soda at a local OK. He only had cash. Can you believe that

He had other cashless means, but education is a massive issue.

And what nobody teaches people is that cash costs you money every step of the way.

 

[bwana]

Aah so you are one of the bad guys and want cash to stay around so you can carry on doing the dodgy stuff without paying your dues.

Don't confuse avoidance with evasion. There is nothing wrong with wanting to pay the government as little as possible... particularly this government.

One might argue he's one of the good guys.

 

[sjm]

Don't confuse avoidance with evasion. There is nothing wrong with wanting to pay the government as little as possible... particularly this government.

One might argue he's one of the good guys.

What he's seemingly worried about seems more evasion (not wanting SARS to have sight of his cash flow) than avoidance though (although he mentioned some avoidance related items).

For tax avoidance you don't need to worry about cash vs non-cash, as your deductions etc will still end up the same. You only worry about cash when you want to underreport, which is evasion.

 

[Azbubu]

Just give your cash to the person infront or behind you in the queue and let them pay for your items with their card.

 

[SauRoNZA]

Don't confuse avoidance with evasion. There is nothing wrong with wanting to pay the government as little as possible... particularly this government.

One might argue he's one of the good guys.

When you are hiding money it’s evasion, because it’s not declared simple as that.

When you are creatively using all the tools at your disposal to lower tax after declaring it all that’s avoidance.

The only reason to actively pursue cash in regard to tax is evasion.

And yes I agree the government doesn’t deserve it, but that’s a different conversation.

 

[Bliksis]

What is thus talk of hiding money and avoiding tax? Some people still use cash.

It's hilarious to see that when some store stops using cash, it's considered progress.

Where you could use both, you choose to use only one.