Say goodbye to the good old mattress bank!

1 min read

Say goodbye to the good old mattress bank!

The government has proposed legislation that would make it illegal to use cash for purchases above $10,000.

Instead, Australians will have to use electronic payments or cheques (remember them?).

This reform was recommended by the government’s Black Economy Taskforce to tackle tax evasion and other criminal activities.

The change is scheduled to take effect on 1 January 2020.

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