The Currency (Restrictions on the Use of Cash) Bill 2019 would introduce a $10,000 cash payment limit from 1 January 2020. The Bill is currently being considered by a Senate Committee due to report on 7 February 2020. The Government has advised the Committee that it does not intend for the limit to apply retrospectively. The government will consider the appropriate date for the cash payment limit to commence together with any other issues identified in the Senate Committee’s report.
A fact sheet and information about the proposed exemptions are available in the downloads.