February 25, 2021 | Warren Kruger | No Comments | Tax Tips For Business Owners, Miscellaneous
It appears that the Government has decided not to proceed with its proposal to limit cash payments in Australia to $10,000.
This measure was originally raised as part of the 2018/19 Budget, and the Government subsequently introduced a Bill to the House of Representatives, proposing to make it an offence for entities to make or accept cash payments of $10,000 or more.
That Bill passed the House and was then introduced to the Senate on 11 November 2019, but proceeded no further, and the Government withdrew the Bill from the Senate on 3 December 2020.
