100s of $10k crud
A law may soon be enacted that will be widely ignored, and pray that this happen.One wasted resource in Australian society is cash, with a dormant stock of $100 and $50 banknotes needing to be drawn back in circulation.It's a strange social act, the squirrelling of cash in the name of survival, an epic message of distrust in the banking system.The Final Report of the Black Economy Taskforce recommended the Government introduce a $10,000 cash payment limit for transactions between businesses and individuals. A draft law is now up for discussion, one that criminalises still common and barely controversial conduct.Comments on the Currency (Restrictions on the Use of Cash) Bill 2019 close on August 12 with Treasury.Those $100 bills, worth more than $100 even in a no rate environment.