Do you use gift cards in your business? New laws deferred to April 2018
Proposed changes to NSW gift card laws due for implementation from 1 December 2017 have been deferred following protests from businesses citing lack of sufficient implementation time.
On 18 October 2017, the NSW Government passed the new gift card laws requiring businesses to extend the expiry date of gift cards sold in NSW to three years or face penalties of up to $11,000.
Outcry over the confusion and impact to business this could cause so close to the Christmas shopping period saw the implementation voted down.
It's likely the laws will be deferred until April 2018, although advocacy groups are campaigning for a 12 month deferment to allow a smooth transition.
The NSW gift card laws include:
a prohibition on, and fines for, selling a gift card or voucher that is redeemable in NSW, with an expiry date of less than three years;
a prohibition on, and fines for, imposing administrative charges or fees for redeeming gift cards that reduces the value of the gift card or voucher;
other debit or credit ‘gift cards’, such as the visa prepaid gift card, are exempt from the laws;
gift cards supplied in connection with loyalty programs are exempt from the laws.