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Ban not going to work

Thursday 5 July 2018

News Summary

Financial Review 

The Australian Chamber of Commerce and Industry (ACCI) has questioned the cash ban.

The article reported that the ACCI believes that the Turnbull government is focusing on the wrong thing and this will not mean a decline in the ‘black economy’ because of the ban.

"Resources and effort would be better spent dealing with the causes of black-market activity and tax avoidance, which, as the Black Economy Taskforce correctly noted, are high taxes, a high regulatory burden and low profit margins."