Employment:

This wasted and costly commodity of enforced idleness, with a corresponding loss in production, a similar loss in consumption demand, a loss in tax revenues and a burden on government outgoings in the form of welfare support... not to mention a loss of personal self-respect and personal growth opportunity.

Need a job or work experience?  Offer your services to potential employers on a part CA$H & part TradeDollars (goods & services credits) is income exempt and will not effect your Social Security Benefits or Pension payments in Australia. Bank your idle time for TradeDollars helping others in the community.

Offer your services to potential employers on a part CA$H and part TradeDollars basis, gaining work experience & build your resume in all areas needed to make your services more valuable.

TradeDollars.com can give you a competitive edge over other competitors trying for the same position. You can then purchase needed goods & services with your TradeDollars conserving your Cash flow.

An employer can pay for employment with the sales of his goods & services into a separate virtual economy that can help him and his company bring more sales from new customers and conserving his cash flow increasing his turnover and improve his life style.  

Income Except

This is a copy of the manual used by the Australian Department of Social Security decision makers confirming that goods & services credit are income exempt.

From: "Guide to the Administration of the Social Security Act 1991"

PART B: INCOME EXEMPT FROM ASSESSMENT

Other exempt income

Payments from Local Exchange Trading Systems

27.1340 Local Exchange Trading Systems (LETS) are community based schemes where goods and services are exchanged without money. LETS schemes have a local unit of exchange, often called an "eco", but other names for the unit of exchange are also used.

27.1341 Credits received from participation in LETS and other community exchange schemes are exempt from assessment under the income test applying to pensions and new start allowances.

27.1342 If both cash and credits in LETS schemes are received, the cash amount is to be assessed as income.

Another great way of learning new skills is to become part of a Co-operative enterprise.

There is a growing network of Co-operative enterprises, for example, "Local Exchange and Trading Schemes" known as LETS. People involved with LETS trade their services with other members in the Co-operative. These schemes are generally highly organised and work well. You can build up "credits" and use them to "purchase" goods or services offered by others such as child care, home maintenance, cleaning, gardening, clothes, plants and trade and professional services.

Such goods or services received through a Co-operative enterprise are not taken into account when we work out your benefit payments.

Organisers from Co-operative groups already set up in your community will be able to help you with information about the requirements for setting up or joining a Co-operative.

MINISTER FOR SOCIAL SECURITY PETER BALDWIN

MEDIA RELEASE

TREATMENT OF LETS TYPE SCHEMES FOR SOCIAL SECURITY PURPOSES

The Minister for Social Security, Mr. Peter Baldwin announced today that LETS (Local Exchange Trading System) type credits will not be counted as income for the purpose of the Social Security income test.

"LETS type schemes are a useful community initiative which should not be artificially discouraged by Social Security arrangements. I believe there is a strong case for giving Social Security clients the flexibility to participate in such schemes," said Mr. Baldwin.

"In particular, LETS type schemes represent a form of activity that assists our clients in keeping in contact with labor market skills and habits, and indeed, in contact with the labor market itself."

While exemption of LETS type credits from the definition of income for Social Security purposes marks a more flexible approach, the Minister was quick to point out that activity tests will remain and will be applied.

"I want to make it clear to LETS type groups, and to the community at large, that the activity test for participants of such schemes will continue, to be applied," said Mr. Baldwin

"I believe that the application of the activity test will be sufficient to ensure continued compliance with the conditions for receipt of our payments, that is, that recipients be actively seeking work, with work search as their primary activity."

The decision takes effect immediately and means that credits received via trading schemes such as LETS will not be assessable under the income test for pensions and benefits as well as Job Search Allowance and Newstart Allowance.

Canberra 2nd December, 1993

Media Enquires: Lynne Adams

Minister’s Office

06 277 7560

MSS/PB 28/1993