Cash receipt limit Bill passes House

The Currency (Restrictions on the Use of Cash) Bill 2019 has been passed by the House of Representatives.

The Bill establishes the cash payment limit and introduces offences for entities that make or accept cash payments of $10,000 or more from 1 January 2020.

​These offences protect the integrity of the taxation law and other Commonwealth laws by ensuring that entities cannot avoid scrutiny and facilitate their participation in the black economy by making large payments in cash.

 

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