CASH GRAB: Inactive Australian bank accounts to be seizedNews.com.au
Feb. 27, 2013
Chris Rock: 'I Want to Live in a World Where An Equal Amount of White Kids Are Shot Every Month - I Want to See White Mothers On TV Crying'
Tucker: Psychiatric Drugs, Social Alienation, Broken Families, War On Men More Relevant Than Gun Control
Swamp Drains Itself: Top GOP Donor Al Hoffman Jr. Says He Won't 'Write Another Check' Without Gun Ban
Florida School Shooter IDed as 19-Yr-Old Nikolas Cruz
Student: There 'Had To Be Two Shooters' Because I Talked With Suspect Shortly After Shots Were Fired
HOUSEHOLDS face losing up to $109 million from their family savings as the Federal government moves to seize cash from inactive bank accounts.
After legislation was rushed through parliament, the government will from May 31 be able to transfer all money from accounts that have not been used for three years into their own revenues.
This will mean that accounts with anything from $1 upwards that have not had any deposit or withdrawals in the past three years will be transferred to the Australian Securities and Investment Commission.