Legal tender

[craigb]

They can't legally refuse to accept them but they do refuse to and there isn't alot you can do about it. Take'em to court?

They can't legally refuse them if the debt is less than 20 cents.

What exactly can you buy for 20 cents? :confused:

[ozwinner]

They can't legally refuse to accept them but they do refuse to and there isn't alot you can do about it. Take'em to court?

And pay in copper, actually copper has gone throught the roof price wise, so hang on to them or weight them in for scrap...

Al

[ozwinner]

US$4000 per ton.
Hang on to them and collect heaps more, one day you will be rich.

Al

[Grunt]

What exactly can you buy for 20 cents? :confused:

A romantic weekend with Al.
A month naked with Zed.

[ozwinner]

A romantic weekend with Al.
A month naked with Zed.

Hey Im cheap but it will cost you 40c mister.

Al

[Honorary Bloke]

I think the government here has tried 7,462 times to discontinue the 1 cent coin, always without success. They make no sense (bad pun ), cost more to manufacture than they are worth, and because people tend to hoard them they must keep minting new ones. Because of our odd VAT structure, goods cannot be priced to include VAT, so prices always seem to come out the odd penny or two at the cash register.

Just another instance of popular culture trumping logic.

[ozwinner]

Because of our odd VAT structure, goods cannot be priced to include VAT, so prices always seem to come out the odd penny or two at the cash register.

Just another instance of popular culture trumping logic.

Do you have VAT?
I didnt think you had it?

Al :confused:

[Honorary Bloke]

We call it Sales Tax and it varies from state to state and city to city. But it is certainly a value-added tax as it is calculated on the total sale at checkout. Food typically has a different and lower sales tax, so items in a grocery market may have two or three different tax rates, depending on the goods purchased. Here in South Carolina we have (I think:confused: ) 6% state tax on non-edible goods and 3% on non-prepared foods. Add 1% for the city for 7%. The restaurants and hotels also add another 2% hospitality tax, which is aimed particularly at gouging the tourists.

Actually, it is so confusing that no one here really understands it and just trust that the cash register computer assigns it properly to each item.

[ozwinner]

We call it Sales Tax and it varies from state to state and city to city. But it is certainly a value-added tax as it is calculated on the total sale at checkout. Food typically has a different and lower sales tax, so items in a grocery market may have two or three different tax rates, depending on the goods purchased. Here in South Carolina we have (I think:confused: ) 6% state tax on non-edible goods and 3% on non-prepared foods. Add 1% for the city for 7%. The restaurants and hotels also add another 2% hospitality tax, which is aimed particularly at gouging the tourists.

Actually, it is so confusing that no one here really understands it and just trust that the cash register computer assigns it properly to each item.

Whoah, so our 10% on MOST items seems easier, unless it is unprepared food, IE fruit, hang on bread is exsempt too and it is prepared., but if you add nuts or fruit to bread its taxed. :confused:

It confuses the bejabouse out of me. :confused:

And this is the simplified tax. :confused: :confused: :confused:

Al

[renomart]

Surely you would be better going to your scrap metal merchant. The copper has to be worth something.

[Terry B]

I think the government here has tried 7,462 times to discontinue the 1 cent coin, always without success. They make no sense (bad pun ), cost more to manufacture than they are worth, and because people tend to hoard them they must keep minting new ones. Because of our odd VAT structure, goods cannot be priced to include VAT, so prices always seem to come out the odd penny or two at the cash register.

Just another instance of popular culture trumping logic.

We still have items sold with odd amounts but if you pay cash the amounts are rounded to the nearest 5 cents. If you pay electronically or with a credit card the exaxt amount is charged.
When I travelled to Canada (which seems to have a similar system to you guys) I found it incredibly frustrating that the marked price on an item is not what you payed but extra was added at the cash register. You never knew what something was going to cost. Our GST is always included in the marked price which hides it but makes budgeting easier.

[Gumby]

O.K, I'm a bit right. It seems that 1's and two's are legal tender for debts less that 20 cents.

http://www.rba.gov.au/CurrencyNotes/...al_tender.html

Thanks mate, now I have to get them out of the bin. You nearly cost me 34 cents.

[craigb]

A romantic weekend with Al.
A month naked with Zed.

Yep. You get what you pay for.

[Sturdee]

For the record all currency, both notes or coins, issued by the Reserve Bank on behalf of the Commonwealth is and always will remain legal tender.

Even the old pre decimal coins eg farthings, halfpennies and pennies as still legal tender and banks, as agents for the RBA, are required to accept same without restrictions.

So if you find any of these old coins you can still use them to pay your bills.


Peter.

[Gumby]

For the record all currency, both notes or coins, issued by the Reserve Bank on behalf of the Commonwealth is and always will remain legal tender.

Even the old pre decimal coins eg farthings, halfpennies and pennies as still legal tender and banks, as agents for the RBA, are required to accept same without restrictions.

So if you find any of these old coins you can still use them to pay your bills.


Peter.

Oh good. I've got 2 pennies as well.