Amendment to the Banking Foundations Act

[UnityMaster]

Author(s): Robi Hawes, UnityMaster
Sponsor: UnityMaster
Type: Amendment to an Act of Parliament

A
Bill
To
Amend the Banking Foundations Act​

Preamble:
Current taxation laws encourage the hoarding of money and reduce the circulation of money in the economy
1. Short Title and Enactment
(a) This Act shall be referred to as the “Amendment to the Banking Foundations Act"
(b) This Amendment was authored by UnityMaster
(c) This Amendment comes into force immediately upon passage.

2. Amendments

1. Taxation

(b) Normal checkings/savings accounts shall have a 0.25% tax on each withdrawal.
(b) Financial Institutions shall have a 0.50% tax to be paid on their total deposits held, every month (thirty days).