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Pensioners hoarding $100's

Posted by: Paul Entwistle | 25 September, 2012 - 9:42 AM
Pensioners have been accused of hoarding 100 and 50 dollar notes to augment their pensions.

According to a former Reserve Bank official the average Australian pensioner is sitting on a $50,000 cash nest egg the ATO doesn't know about. Steve Mills spoke to Peter Mair about his letter to the RBA alerting them to his potential discovery.

Blog comments Your Say

  • If I was a pensioner,especially one who has lost thousands of dollars due to the GFC, I'd be hiding my hard-earned cash under the mattress too.
    Why bother putting it banks which overcharge and then be taxed by the ATO as well?
    Old doesn't mean stupid nor dishonest.

    Dellas Thursday 27 September, 2012 - 8:54 PM

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