To the Honourable President and members of the Senate in Parliament assembled:

The petition of the undersigned shows:

The introduction of the Currency (Restrictions on the Use of Cash) Bill 2019 is a fraudulent assault on the financial freedom of all Australians.

Banning cash transactions over $10,000.00 will not have any significant affect on tax evasion or money laundering in the “black economy”.

Recommendation for this Bill by KPMG in their 2017 Black Economy Taskforce Report is already displaying further ‘adjustments’ as they are now lobbying for the limit to be further reduced to $2,000.00.

Individuals and small to medium businesses of Australia do not contribute significantly to the ‘black economy’ being tax evasion and money laundering. Individuals and small to medium businesses are the main contributors to payment of taxation in Australia. Individuals and small to medium businesses spend their money in the Australian economy.

Large multinational corporations avoid or pay minimal taxation in Australia. Large multinational corporations are predominantly foreign owned. Large multinational corporations transfer cash to overseas investors and banks. These actions by multinational corporations evidence the biggest threat of tax evasion and money laundering.

The Currency (Restrictions on the Use of Cash) Bill 2019 for both the Act and Rules evidence exemptions that make protections for Public Officials receiving cash in course of duties (Government departments and agencies); entities that already report under an anti-money laundering or anti-terrorism legislation; payments that include a portion of digital currency (eg $9,999.00 cash plus $5,000 digital currency is exempt); exceptional circumstances where no other option available; and personal or private transactions (not including real property).

These exemptions are conflicting and open to abuse by government and large corporations. This Bill allows these entities to actively make cash transactions over $10,000.00 with impunity.

Individuals and small to medium business have their rights to privacy and financial freedoms taken away with this Bill.

Your petitioners ask that the Senate:

We the undersigned call on Parliament to:

Respect the right of Australians to use cash for privacy .

Respect the right of Australians to choose how they use their money.

Respect the right of Australians to not use banks.

Request this Currency (Restrictions on the Use of Cash) Bill 2019, Currency (Restrictions on the Use of Cash) Rules 2019 and the Cash Ban policy be rejected.

Request that the Australian Government take real and effective action on tackling the ‘black economy’ by introducing equal and fair taxation on large corporations (equivalent to individual and small business).

Request that the Australian Government remove taxation cuts to large and multinational corporations.

Request that the Australian Government enforce foreign ownership limits and increase Australian ownership in Australian assets, infrastructure and large corporations in Australia.

Request that the Australian Government take action to restrict movement of money outside Australia by multinational corporations.

Request that the Australian Government introduce closer scrutiny of financial transactions by multinational banks and corporations.