WA New cash restriction laws

[P458789]

The Australian government passed a law earlier this year restricting sales of $10K in cash & above which could lead to a possible prison sentence or fines if found guilty in a court of law. Is it true that private transactions between individuals for second hand goods will be exempt from the new law ? For instance if someone was to buy a car with over $10K cash & transfer the vehicle in to their own name would they be fined or possibly sentenced to prison time ?
TIA !

 

[Tim W]

In short and simple - this act is about combatting black economy transactions.
The ordinary person making day to day personal transactions in cash
is not affected.

Most of the stuff "going around" about it is tin-foil-hatted nonsense.
For those interested in the facts around this bit of legislation,
there is some public info from Treasury here.