the problem with this whole plan is that is escalates a civil/traffic offence into a criminal offence.
if you have Mr. A. and he is cruising along a deserted highway (marked 110) at 135 in his modified holden commodore GTS (worth say $60,000), he has a history of speeding offences at the rate of about 1 a year. now he sees a police car closing in on him lights and sirens ablaze. under current law he is looking at a fine, he will incur demerit points and possible loss of licence. he is quite likely to pull over and take it like a man. he may or may not change his behaviour but most likely he will at least reconsider the way he drives on the road.
under this proposed law, same situation. he is now looking at loosing $60,000. It's plausible that he will decided to take his chances and outrun the cops as loosing $60,000 is a punishment that in no way reflects the seriousness of his crime and will cause him severe financial hardship for years to come. Now once he makes this conscious desicion to evade lawful arrest then he is in a whole new league of offences. Plus as he now accelerates to get away the risk of a serious accident to him or the pursuing officers becomes pretty high. He will be determined too as if he is caught now not only will he loose his $60,000 car, he will be looking at possible jail time. He's now involved in criminal behaviour and is definitely dangerous to others on the road.