"The ban starts on July 1, 2019 and any payment over $10,000 will have to be made by check or credit/debit card. The government will enforce the measure by allocating roughly $300 million for what it calls the Black Economy Standing Taskforce. The goal is to drum up about $3 billion in new tax revenue over the next four years.
As The Guardian points out, one of the biggest targets for the new task force will be the illicit tobacco trade. Australia has the highest tax on cigarettes in the world, with an average pack costing about $40 AU ($30 US). But there’s a huge black market for cigarettes, which comes from both stolen goods and smuggling from outside the country. Taxes aren’t paid on cigarettes until the point of sale, so theft from tobacco warehouses is unusually common in Australia."
https://gizmodo.com/australia-bans-cash-for-all-purchases-over-7-500-start-1825946888
As The Guardian points out, one of the biggest targets for the new task force will be the illicit tobacco trade. Australia has the highest tax on cigarettes in the world, with an average pack costing about $40 AU ($30 US). But there’s a huge black market for cigarettes, which comes from both stolen goods and smuggling from outside the country. Taxes aren’t paid on cigarettes until the point of sale, so theft from tobacco warehouses is unusually common in Australia."
https://gizmodo.com/australia-bans-cash-for-all-purchases-over-7-500-start-1825946888