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Originally Posted by LegacyRS
Any personal cash deposit under $10k is not flagged (according to Westpac teller friend) anything over $10k is flagged but not investigated..
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I believe it's as low as $5k - any transaction gets 'flagged' - the banks, ATO & Centrelink all share the info between them using your tax file number. It's all about preventing tax avoidance schemes, money laundering, anti-terrorism, anti-mob, etc, etc.