Aussie 'War On Cash: nanochips in $50 and $100 notes, cash should expire after a designated period of time

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.

Michael Andrew, the head of the taskforce, proposes nanochips in $50 and $100 notes so the government knows where the cash is, and suggests that cash should expire after a designated period of time.

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.

“We intend to examine the merits of consumer focused sanctions, including the loss of consumer protections, warranties and legal rights for people who make cash payments without obtaining a valid receipt,” Mr. Andrew wrote. “This is not simply of matter of imposing new penalties, but part of a wider cultural change agenda.”
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