According to a report in Sydney's Daily Telegraph on Wednesday, the players have informed the Australian Cricket Board they are prepared to forfeit up to A$30,000 (US$20,000) a man to pull out of the tournament, to be held in Morocco in September.
Australian Cricketers' Association chief executive Tim May told the newspaper the players wanted out of the tour because of fears about their heavy workload and security.
"Our concerns are two-fold, the first is the volume of cricket," May said.
"There is a significant resistance from the volume of players in
"The second one is security in the wake of the most recent terrorist attacks which certainly concern us."
Australia's cricketers, currently on tour in West Indies, have been playing virtually non-stop since November last year.
They will have a short break when they return home next month before starting their preparations for the historic home series with Bangladesh in July and August and were hoping to have another rest in September before the start of another hectic summer.
They are also reportedly concerned about security issues in Morocco after 43 people were killed by a series of bomb blasts in Casablanca earlier this month.
