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It will not be long until you will be charged a premium for paying with cash. Cash required handling, banking etc. and these have costs associated with them. For a business, electronic is a better choice. Cash is also a haven for criminals, looking to escape scrutiny, but even there the Cash Transaction Reporting Act requires banks and businesses to report all transactions above $10,000.
There are stories that the Reserve Bank is concerned about the disappearance of $50 and $100 notes, with a common theory that retirees are hording them to escape Centrelink scrutiny of their bank accounts. Anyone on a pension or part-pension knows all to well the level of disclosure required.
Cash will be phased out eventually, and just as with our old currency, eventually they will cease being legal tender.
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