In recent years, we have been using electronic payments more and more often. However, many people, especially from older generations, are still attached to traditional cash. Questions often arise about what savings we can keep at home. What is worth knowing about this topic? Here are the highlights.
How much cash can we keep at home?
For several months now, we have been able to come across articles on websites that threaten us with alleged new limits on the cash we can keep at home. It is therefore worth pointing out clearly that there are currently no restrictions on this issue. For this reason, we can keep as much money as we want in home safe deposit boxes.
How much cash can we keep at home? Photo Jakub Ociepa / Agencja Wyborcza.pl
Even though there are no regulations regulating how much cash we can keep at home, it is worth remembering that experts usually do not recommend keeping large amounts of money with you. This is not only dangerous and impractical, but also unprofitable.
Do you keep cash at home? This may lead to problems
Even though hoarding cash at home is not prohibited, sometimes it can get us into trouble. A few years ago, she described the story of Mr. Jan (the hero’s name was changed at his request). The man bought a house. However, when paying, he did not use a bank transfer and paid in cash. That is why the Tax Office became interested in the matter. The officials found this very suspicious. So they decided to check where Mr. Jan got the money from.
The inspectors then stated that they were dealing with an undisclosed source of income and the man should be punished. Mr. Jan therefore appealed to the Provincial Administrative Court. Then the judges decided that although the use of banking services is voluntary, “an element of rational management of funds is to create conditions that will protect a given person against loss of their real value due to inflation, or even physical loss. It is not reliable to store large sums of money outside the banking system in the event of active use of bank accounts. The court ordered payment of 75%. tax on undisclosed sources of income, and the Supreme Administrative Court upheld the judgment.
Source: Gazeta
Bruce is a talented author and journalist with a passion for entertainment . He currently works as a writer at the 247 News Agency, where he has established himself as a respected voice in the industry.
