Mark Mason
Well-known member
Australia Bans Cash Payments over $10,000 AUD
he government of Australia plans to make cash payments over $10,000 AUD ($7,500 USD) illegal starting on July 1 2019. Afterwards, all payments over that amount will have to be made via check or debit/credit card.
The Aussie government cites criminal activity, tax evasion, and “encouraging the transition to a digital society” as reasons for its ban. Treasurer Scott Morrison, said “[t]his will be bad news for criminal gangs, terrorists and those who are just trying to cheat on their tax” and that “t’s a crime.” To enforce the ban, the government approved the creation of a $300 million Black Economy Standing Taskforce who is tasked with generating $3 billion of new tax revenue over the course of four years.
Read more: https://www.dashforcenews.com/australia-bans-cash-payments-over-10000-aud/
he government of Australia plans to make cash payments over $10,000 AUD ($7,500 USD) illegal starting on July 1 2019. Afterwards, all payments over that amount will have to be made via check or debit/credit card.
The Aussie government cites criminal activity, tax evasion, and “encouraging the transition to a digital society” as reasons for its ban. Treasurer Scott Morrison, said “[t]his will be bad news for criminal gangs, terrorists and those who are just trying to cheat on their tax” and that “t’s a crime.” To enforce the ban, the government approved the creation of a $300 million Black Economy Standing Taskforce who is tasked with generating $3 billion of new tax revenue over the course of four years.
Read more: https://www.dashforcenews.com/australia-bans-cash-payments-over-10000-aud/
