Payments of $10,000 cash or more are set to be banned

March 9 2020 - 4:30pm
If the ban passes, transactions over $10,000 will become illegal. Photo: File
If the ban passes, transactions over $10,000 will become illegal. Photo: File

Payments of $10,000 cash or more are set to be banned under controversial new legislation that would see fines of up to $25,500 and two years' jail for any Australian caught spending above the limit.

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