Q & A

Nubeans is a local sub-branch of the Tasmanian wide Community Exchange and Trading System (CENTS).

CENTS is part of an Australian and worldwide Community Exchange System (CES).

Click to Register Online.

There is no fee to join CENTs.
All transactions attract a 4% levy (paid in CENTs) to both buyer and seller to fund ongoing administration costs.

The unit of currency that CENTs uses is the CENT. One CENT is equivalent to one Australian dollar. Every traders time is valued equally at 25 CENTs per hour.
Anything you could buy or sell at a market, a garage sale or a business enterprise can be traded through Nubeans. Services such as lawn mowing, car maintenance, house-cleaning, alternative therapies and hairdressing are popular. Skills like teaching music, hand-crafts or tutoring in maths or computer literacy are also easily tradable.
Your time and energy will be the greatest contribution.
Young and older, individuals and businesses. Anyone can join Nubeans.
Think about the skills and abilities you have, that you would enjoy sharing and you have started!
Children and young people are encouraged to join, however minors must join the system through their parent or guardian.
All trades are 100% CENTs – unless you are a registered for GST business, and then you can trade part CENTs and part Australian dollars.
Nubeans is sub-branch of the Tasmanian wide CENTs organisation.

CENTs has sub-branches in Devonport, Burnie, Channel, Huon, Deloraine, Hobart, Launceston, Wynyard, East Coast, West Coast and the Nubeans group on the Tasman Peninsula.

When you join Nubeans you also join CENTs and you can trade locally, state wide and interstate. Join the branch closest to where you live, this will enable you to connect with other traders local to your area.

Your account does not have to be in credit for you to begin trading. You can begin trading by going into debit (not debt). This means your account has a negative balance but unlike with conventional currency you do not have to pay interest on it.
You can trade up to 1000CENTs in debit and 3000CENTs in credit. Beyond these amounts your credit or debit trading is on hold until your account is again within credit/debit trading limits.
You need to trade at least once per year to keep your account open.
The best resolution is to avoid the potential for disputes – for instance, before agreeing to trade with someone you can check their balance. If you see they are running a large debit, you can refuse to trade until their standing has improved.
CENTs is a community exchange initiative, and it is encouraged that disputes are resolved within the community. If problems arise, call the Nubeans co-ordinator: contact us
If you intend to move from the area permanently, try to bring your account as close as possible to zero and please advise the CENTs administrator before the move – contact us
There is no GST or tax involved for transactions below the threshold. The current threshold is all transactions greater than $75,000 between two business entities (Pty Ltds).
The Federal government currently has no legislation in place which requires tax on community exchange programs.
Please call the Nubeans co-ordinator: contact us

who will discuss with you ways in which you can still participate without internet access.

All account and trading details are confidential, except that any account holder may know the balance and turnover of another. This enables everyone to participate in regulating the system. Members phone numbers are printed in the newsletters and register but all other personal information is confidential.
If it is a major household project, ask for a written quote for work, prior to the work being done. As with all business dealings, it is advisable to negotiate an exchange of CENTS prior to the trade taking place. Members are advised to take out Work Care cover (approx $10.00 per year), as household liability insurance may not cover household workers employed on your property.
Yes, the CENTs initiative caters to all people in the community. For more information regarding assistance for people with disabilities, please contact your local co-ordinator.
For more information please contact the Nubeans co-ordinator:
contact us .