Australia Bans Cash For All Purchases Over $7,500 Starting July of 2019
  • 6 years ago

Australia’s Liberal Party government has announced that it will soon be illegal to purchase anything over $10,000 AU ($7,500 USD.) The government said it’s, “encouraging the transition to digital society,” and cracking down on tax evasion. The ban starts on July 1, 2019 and any payment over $10,000 will have to be made by check or credit/debit card. The goal is to drum up about $3 billion in new tax revenue over the next four years. One of the biggest targets will be the illicit tobacco trade.
Recommended