Government flags heavy-handed crackdown on black economy

Original article by Mike Bruce
The New Daily – Page: Online : 21-Aug-19

Gary Pflugrath of CPA Australia says the federal government should reconsider proposed legislation to restrict cash payments between businesses and individuals to no more than $10,000. It was one of the recommendations of the government’s Black Economy Taskforce, but Pflugrath contends that there are sufficient "checks and balances" to counter criminal activity. Kurt Wallace from the Institute of Public Affairs says restricting cash payments would have little impact on the cash economy, while reducing the freedoms of ordinary Australians. Individuals could face big fines and imprisonment for breaching the proposed laws.

CORPORATES
CPA AUSTRALIA, INSTITUTE OF PUBLIC AFFAIRS LIMITED, H&R BLOCK LIMITED, ONE NATION PARTY, UNIVERSITY OF MELBOURNE

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