BAN CASH AS A TRANSFER OF AUSTRALIA TO DIGITAL MONEY

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BAN CASH AS A TRANSFER OF AUSTRALIA TO DIGITAL MONEY

The government of Australia plans to prohibit the use of cash for payments over ten thousand dollars. From the first of July 2019, the ban will come into force. This means that all payments over ten thousand dollars must be made through a credit or debit card, or must be confirmed by check. To support the ban, the Australian government will allocate three hundred million dollars. And over the next four years, tax revenues of $3 billion are planned. Because the purpose of the bill is not only the transition to the digital community, but also the prevention of tax evasion.

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