But the Australian Tax Office (of Internal Revenue) wants Verified Accounts Programmed to be Managed and kept up to date.

            A "Vampire" or "PET Vampire" will do 80% of this work more efficiently using "electronic money" rather than "cash" or "credit" or old fashioned "IOUs" for paying the working Wife and Children.
 

           The Average Australian Family:
           The average Australian family comprises a Husband and Wife with three children. Each is able to have a Bank Account and, should the family have a Partnership Tax File Number, there could be
six Accounts - all of which can be "linked" as the Internet is using the same computer as an ATM.

           How the Poor Operate:
           The average amount of money put on the kitchen table by a PAYE Income producing husband (or Welfare recipient) for the weeks expenses (food etc.) is $300. In a working class family there is usually no accounting of this $300 other than that it goes to "pay for the groceries etc.".

           How the Rich Operate:
           In a Business Family the $300 would go to pay the internal Accounts - wages etc. - then the food. This required a lot of cheque writing in the past - with a long wait for the cheques to clear.

           Before the Computer:
           Before the age of the Computer this was a big job with time involvement with Cheques, IOUs, etc. But with Electronic Bank Transfer it is now done efficiently at the speed of light - almost effortlessly and without mistake ---- and more than acceptable to the Australian Taxation Department (with a few provisos)  Cheques still take five working days to clear so they are almost obsolete and no one considers an IOU anymore.

          Example of the Vampire at Work:
          In a working class family this $300/week would amount to $15,000 per year. In a Business Family using "VAMPIRE", the Bank Statements would identify, debit and credit individually but amounting totally to over $300,000 per year.

          Impossible one might say!

          Well, consider the six legal Bank Accounts indicated above.

          If the $300 per week  were moved through (in and then out) one of the six linked Accounts each week, electronically, the Bank Statement would show the date and then:

 (1) Type of Transfer:  and in the columns
 (2) Credit $300: and then
 (3) Debit $300:  with the final
 (4) Balance:  after both Electronic Transfers - showing no change in the
Balance of the Account.

       Electronic Footprints of Money:
      "Money" just came into the Account, left electronic footprints, and went on out again.

      This one account has a total movement of $600 using the original or similar $300 per week.

           If you did this to each of the six Accounts and for Business reasons four times at one account, total amount moved as indicated by the Bank Statements - both Debit and Credit - would be $6,000 per week or $300,000 per year.

            Bank charges for each Transaction or set of electronic footprints currently 50 cents.

            Good Grief - a PET Vampire:
            If you were to instruct the Bank to do this each week by filing an Authorising Transfer Form it would be called a "Periodic Electronic Transfer" or PET. So each family would have a "PET Vampire" working for them and it's wages would be something like $250 per annum which is much better than an old fashion Accountant. Would you not agree?

         Who Next will the Rich Employ?
          Nonsense you say - being Working Class - and you would be right. All these "money" footprints  would mean nothing at all to you. 

          In fact, they could become embarrassing should the Australian Tax Office ask you to explain the "money" movements in your Accounts - which would be difficult indeed if you were on Welfare.

           But If you were Business Class you would say:

           How do you know which Transaction entry is the Husband's Equity in the Partnership?

                Good Question!

           The Wife's Equity in the Partnership?
           The Wife's Drawings?
           The children's Wages?
           The Taxable  Income?
           The non Taxable Income?  (the $50,000 of non-Taxable Income available to a Business Family)
           Tax Deductibles.
           Who pays the Rent?
           The income from Rent?
           Who pays for the food on the table?

           and finally -- if you did buy your groceries from Campbells Wholesale how  would that affect the Negatively Geared Mercedes E 280?

           Good question:

           Campbells might say:-
          "It depends on what percentage you use your Mercedes for private use - if any".

           Of course the Tax Office would need to know the code too - but of course, you'd tell 'em when and if they ask.

           Would the bank need to know the code?

           For what reason would anyone other than you - the book keeper - and ATO need to know?

               Like Colonial State Bank's "Viridian" and "Virtual", "Vampire" "Voyager" and "Vendetta" are just other ways to make your "money" more efficient and effective.

               The Bank teaches everyone how to use the Bank in their preferred Products but we teach other (better) ways of using a Bank for the customer's profit.

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