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Black economy crackdown as proposed law looks to criminalise $10,000 cash payments | Daily Mail

Australians could soon be jailed for up to two years and fined $25,200 for paying cash sums of more than $10,000.

The proposed law could come into effect as soon as January 2020 and will target transactions in the black economy.

According to the Treasury website, the black economy 'refers to people who operate entirely outside the tax and regulatory system'.

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