War on Cash Proposals in Australia: Microchip Expiring $100 Bills, Forcing People to Keep Receipts

• War on Cash Proposals in Australia: Microchip Expiring $100 Bills, Forcing People to Keep Receipts
  by https://mishtalk.com/
  Australia’s Black Economy Taskforce has come up with a list of 35 “consumer-focused” proposals to crack down on cash. The taskforce blames consumers for holding cash and for not getting receipts.
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  Michael Andrew, the head of the taskforce, proposes nanochips in $50 and $100 notes so the government knows where the cash is. Cash will expire after a designated period of time.
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  Andrew believes “consumers are part of the problem”. He wants to punish people who pay in cash and don’t get a receipt.
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  A plan to strip consumers of their legal protections if they pay in cash and fail to get a receipt has been slammed as “completely unfair” by leading advocacy groups.
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  The proposal was one of 35 recommendations contained in the interim report from the federal government’s Black Economy Taskforce, which argued the need for “consumer-focused action” to crack down on cash payments.
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  According to Taskforce chair Michael Andrew, former global head of accounting firm KPMG and current chair of the Board of Taxation, while current anti-black economy laws focused on businesses, consumers are “part of the problem”.
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