No More Cash for Scrap in Vic

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  • No More Cash for Scrap in Vic

    All payments for scrap metal must after May 30 be made into a bank account or by cheque,no more cash for scrap.........THOUGHTS?????

  • #2
    Who said?

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    • #3
      State Government Legislation,got all the info today from my scrap buyer,also got an email from Business Licening Victoria,as I am also SHD registered,will try and scan and upload the info fr you.

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      • #4
        Motor car traders and second-hand dealers update
        Consumer Affairs Victoria - 10 May 2018
        Consumer Affairs Victoria logo
        Cash for scrap metal banned under new laws
        Changes to the Second-Hand Dealers and Pawnbrokers Act 1989 (the Act) come into effect on 30 May, banning cash payments for scrap metal.

        The new laws also prohibit dealings in motor vehicles destined for scrap if the vehicle identifier is removed, defaced, obliterated or altered.

        The new laws will apply to all scrap metal dealers, regardless of whether they are registered as second-hand dealers.
        Record keeping requirements

        Under the new laws, scrap metal dealers will need to maintain detailed records of all transactions.

        All dealings in scrap metal must be conducted using only electronic funds transfer (EFT) or cheque.

        The new laws will help police track stolen goods and vehicles, and disrupt criminal activity from affecting the industry.

        Regulations to support the new laws are currently being made; they will provide further details about the records that must be kept. We will update you when the regulations are changed.
        Penalties and enforcement

        Police will monitor compliance with the new laws, and significant penalties will apply for non-compliance. Police will also gain new rights of entry and enforcement under the Act, including the ability to enter business and storage premises without a warrant at any time, if they reasonably believe that dealing in scrap metal is being carried on.

        More information about these changes will soon be available in our Second-hand dealers and pawnbrokers section.
        Send us your feedback
        We welcome your comments about this update. Please email us your feedback.
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        © State Government of Victoria (Consumer Affairs Victoria) 2018
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        Department of Justice - State Government Victoria
        This email was sent by Consumer Affairs Victoria, 121 Exhibition Street, Melbourne, Australia 3000 to junkhunter@bigpond.com



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        • #5
          Don't think it'll make much difference, it'll just mean the crooks will cut the cars up into smaller pieces and sell as pressing steel.
          for a hobby scrapper there's no change except money in the bank instead of cash, but you can just go to the atm and withdraw it anyway, your name was always recorded and as soon as you hit $6,500 or something like that in a year it automatically gets sent to the tax office, no change there so yeah, no difference really.

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          • #6
            it's been that way in the UK now for a few years, basicly it makes no real differance except it doesn't clear tll the next day
            the idea was to make stolen cable ect tracable but in practice once the scrap is in the pile in the yard it becomes just as untracable as it ever was, just more poorly thought out rules that in the real world just don't work as intended

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            • #7
              I agree with Ben, no real change. For the hobbyist just means you have to wait a day before buying the slab of beer. For career scrappers, will everyone declares and pays taxes no drama.

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