The ACB released a statement following media reports that each player was prepared to forfeit up to A$30,000 (US$20,000) to pull out of the Morocco tournament being held in August and September.
"There were a number of issues to manage but in the end, it came down to a problem with dates," the ACB's general manager of cricket operations Michael Brown said.
"The ACB had also been monitoring the security situation in Morocco and assessing player workload," he added.
The board held discussions with the Australian Cricketers' Association and government officials before announcing the decision to cancel Australia's participation in the International Cricket Council-sanctioned
A full list of teams expected to participate in the Morocco event has yet to be announced.
Australia return from their tour of the West Indies on June 4 and will host Bangladesh for two Tests and a one-day series in July and August.
The players will take annual leave in September.
Australia then host two Tests against Zimbabwe in October before heading to India for a one-day triangular series that also includes New Zealand.
India will tour Australia for four Tests in December and January before they are joined by Zimbabwe for a triangular one-day series.
Australia remain interested in future series, the ACB told the Sharjah-based Cricketer Benefit Fund Series.
