In the 2018-19 Budget, the Government responded to the Black Economy Taskforce Final Report. This included the introduction of an economy-wide cash payment limit of $10,000 for payments made or accepted by businesses for goods and services.

The Treasury is leading a consultation process on the draft legislation and accompanying explanatory materials to implement the cash payment limit from 1 January 2020.

You can read the draft legislation, explanatory materials and participate in the consultation process, by visiting the Treasury’s website. The consultation period closes Monday 12 August 2019.

For any questions about the draft legislation and the consultation process please contact the Treasury by emailing Blackeconomy@treasury.gov.au