A recent consultation paper to gather insights and feedback to look at ways Australians can continue to pay with cash when needed, will form part of a possible mandate on cash acceptance.

Digital payment methods are increasingly becoming the norm and some small businesses have already opted to not accept cash, but cash is still a legitimate form of payment and often the only method for some of the community.

The Federal Government are proposing to mandate that businesses must accept cash when selling essential items such as groceries and fuel, with appropriate exemptions for small businesses.

The consultation covered the following aspects of the mandate:

• An appropriate definition of essential goods and services to ensure cash can always be used to access the basics
• Which businesses the mandate should apply to
• Other features, such as transaction caps or time limits, which may be necessary to ensure the mandate works for both businesses, particularly small businesses, and consumers
• What further steps are required to ensure the long-term and sustainable distribution of cash to enable adequate access.

Final details of the mandate will be announced in 2025 and subject to the outcomes of consultation, the mandate would commence from 1 January 2026. Further information is available at www.treasury.gov.au

Just a reminder that cheques are being phased out and will stop being issued by 30 June 2028 and stop being accepted on 30 September 2029.
 

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