AUSTRALIA GREENS SUPPORT LETS TIME-BASED CURRENCY

http://www.act.greens.org.au/ 

GPO Box 2019, ACT 2601
Ph - 02 6247 6305 Fx - 02 6205 0007
mailto:act@greens.org.au 

Economic Policy 
http://www.greens.org.au/policy/s1economic.htm 
 

2.3.14 Taxation Issues in Regard to Alternative Monetary Systems:  

"Among community groups there have spontaneously come into existence 
bartering systems, the best known of which is LETS (Local Exchange 
Trading System). Local currencies are used as payment for goods and 
services. The Australian Greens support the present contention that 
such trading should be taxed when a professional carries out a job or 
sells an item but not if the payment concerns somebody working outside 
his or her normal trade."  

3.2 Goals:
 

"The objectives of the policy include: 
h) strengthening the role of credit unions, Local Exchange Trading 
Systems (LETS), and ethical investments;" 

3.3 Short Term Targets: 
3.3.2 Community Financing Options: Cooperatives, LETS and Ethical 
Investment 

"The Greens will support the establishment and use of community 
controlled investment facilities which direct investments to eliminate 
reliance on foreign borrowings by both the public and private sectors. 
Investments in ethical enterprises which emphasize both social and 
environmental sustainability will be encouraged. The Australian Greens 
will explore a range of opportunities to assist these measures, and 
support: 
d) establishment of a cooperative bank; and 
e) establishment of LETS and encouragement of the involvement of local 
business."

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