The writer has for some time argued the restriction to the use of cash is a sledge hammer approach to the inefficiencies of Government departments in dealing with common Tax Evasion and that the Restriction on Cash Transaction Legislation is a breach of an Australian Citizens right to use cash over cards, and is in essence a Breach of our Civil Liberty.
Using cash does not make you a criminal nor does it mean you are partaking in any criminal activity. For many readers, cash is a personal preference, as the use of Cash Vs Card disassociates you from the value of money. Old fashioned, maybe, but a personal right as a Citizen of Australia to use Cash Vs Card. Further Australians who choose to use cash should not be denigrated or seen as ‘participants in tax evasion’ merely because they choose to transact in cash, yet that is the message that the underlying Legislation is creating in the minds of the general public.
The Federal Government being ever conscious of the view of the writer and many other concerned Australians that a core value of this great Nation, i.e. that Citizens have a ‘Freedom of Choice’ is being eroded, the Federal Treasury has produced the below table in order to appease the sentiments of concerned Australians. All in all, it seeks to settle false myths emanating from the New Restriction on Cash provisions. https://treasury.gov.au/sites/default/files/2019-10/28454_factsheet_addressing_the_myths_about_the_cash_payment_limit_.pdf
Date of Issue: 29 October 2019 Author: Noé Vicca
Disclaimer: The contents herein are intended for general information only and should not be construed as legal or accounting advice. Vicca Chartered Accountants Brisbane bears no responsibility for any loss that might occur from reliance on information contained in this publication. Please do not reproduce, transmit or distribute the contents herein in any form without prior permission from Vicca Chartered Accountants, Taxation Accountants Brisbane Australia.
