Cash
The Government announced it will mandate that businesses must accept cash when selling essential items with appropriate exemptions for small businesses. Final details on the mandate will be announced in 2025 and subject to the outcomes of consultation would commence from 1 January 2026.
Cheques
They also released a Cheques Transition Plan to phase out of cheques in an orderly and planned way. This includes a long lead time for customers and businesses to adjust alternate payment methods. Under the Plan, cheques will stop being issued by 30 June 2028 and stop being accepted on 30 September 2029.
Disclaimer: This does not purport to be comprehensive or to render legal advice. You should not act based on any information contained in this publication without first obtaining specific professional advice. Consult your legal advisor to determine if this applies to you.
