Original article by Joanna Mather
The Australian Financial Review – Page: 9 : 5-Jul-18
The Australian Chamber of Commerce & Industry has questioned whether the Federal Government’s proposal to limit cash payments to $10,000 will be effective in combating the cash economy. The ACCI has warned that the ban, which was announced in the May 2018 Budget and is based on the recommendations of the black economy taskforce, could potentially undermine the integrity of the financial system. Australian Bankers’ Association CEO Anna Bligh has called for a sufficient transition period for bank customers to adapt to the proposed policy.
AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, AUSTRALIAN BANKERS’ ASSOCIATION, AUSTRALIA. DEPT OF FINANCE, KPMG AUSTRALIA PTY LTD