The Coalition will introduce a bill to expand protections for people who prefer paying with cash. The opposition says current rules introduced by Labor do not go far enough. Those rules require most retailers to accept cash for in-person purchases up to $500 between 7am and 9pm, but the opposition argues they exclude essential goods such as medicine, clothing and hardware. The proposed Cash is King Bill would require major retailers to accept cash, lift the transaction limit from $2000, remove the 7am to 9pm restriction and apply the same rules to Commonwealth agencies.
The federal government has resumed some paused parts of its Targeted Compliance Framework, which tracks jobseekers' mutual obligations. The components were halted in July 2024 after the federal ombudsman found almost 1,000 payments had been unlawfully cancelled. A Senate estimates hearing later revealed the number affected was in the vicinity of 30,000. Employment secretary Simon Duggan said compensation for eligible people has begun. Remaining measures allowing payment reductions or cancellations are expected to resume in early 2027, once safeguards are in place.
South Burnett Regional Council has issued rate notices for the period 1 July to 31 December 2026. Ratepayers who have not received theirs by 26 October 2026 can ask for a copy to be posted. Payment can be made in person at six customer service centres, through Australia Post or by BPay, with the discount applying until 16 November 2026. Ratepayers can also apply for a payment plan or financial hardship assistance. Ratepayers who switch to email delivery can enter a draw to win a $500 rates credit.
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Australia's largest bank says it is committed to keeping cash available across the economy. Chief executive Matt Comyn made the remarks at the bank's annual general meeting in Sydney. A Reserve Bank of Australia survey found cash use has stabilised and makes up about 15% of payments by number and 8% by value. About half of Australians use cash in a typical week. Chairman Paul O'Malley said the bank spends about $400 million a year to keep cash available. The bank has also joined the other three major banks in a joint venture to create a common cash reserve.
Prime Minister Anthony Albanese has defended Treasurer Jim Chalmers after the tax office's sudden plan to stop accepting credit card payments drew sharp criticism. The ban followed a Reserve Bank move against passing on surcharges to customers. Business groups and the Coalition warned it would hurt small businesses and struggling families. Chalmers said the government would cover surcharge costs while more consultation takes place. Opposition Leader Angus Taylor called for Chalmers to be sacked, while Albanese said the whole government agreed on the change. Chalmers conceded more consultation should have happened before the ban was announced.
Commonwealth Bank chief executive Matt Comyn has pledged a long-term commitment to delivering cash across the economy. He told shareholders at the bank's annual general meeting in Sydney that he cannot see a time when cash stops being distributed nationally. Chairman Paul O'Malley said the bank spends about $400 million a year on cash availability. Shareholders were also set to vote on a resolution about financing deforestation, which the board has recommended they reject.
Commonwealth Bank chief executive Matt Comyn has pledged a long-term commitment to delivering cash across the economy. He told shareholders at the bank's annual general meeting in Sydney that he cannot see a time when cash stops being distributed nationally. Chairman Paul O'Malley said the bank spends about $400 million a year on cash availability. Shareholders were also set to vote on a resolution about financing deforestation, which the board has recommended they reject.
American Express is introducing a framework designed to confirm a customer's purchase intent before an AI agent completes a transaction. The company says the Intent Intelligence Framework could become an industry standard for AI-powered payments. The framework starts with a Create Intent API that records the customer's instructions and limits, such as budget and preferred merchant. The customer then verifies their identity and approves the captured intent. The agent uses a secure digital payment credential at checkout instead of the customer's card number. Amex says this can help stop errors, such as an agent buying the wrong brand.
The Reserve Bank of Australia has lifted the ban on no-surcharge rules for designated card networks, ending checkout card surcharges for Visa, Mastercard and eftpos from October 1, 2026. Businesses that pass card costs to customers must now include those fees in their advertised prices. Wholesale interchange fees have been cut, with the domestic credit card cap set at 0.3 per cent of transaction value. Merchants on flat-rate plans must ask their provider for the savings, and new rules require providers to publish average fees and detailed statements.
The Albanese government has pushed back the date for ending direct credit card payments to the Australian Taxation Office until 30 June 2027. The change follows concern from small businesses that the original timetable gave them too little time to adjust. Businesses and individuals can keep paying tax by credit card until then, and the government will provide transitional funding for the cost. The tax office will consult affected taxpayers, including those facing financial hardship, on other payment options. Credit card payments through third-party providers, along with debit card payments and bank transfers, will remain available.
Small businesses across New South Wales are working out how to cover merchant fees after the Reserve Bank of Australia banned extra charges for card payments. The ban took effect on October 1. Sydney cafe owner Philip Barbaro said his group pays about $150,000 a year in merchant fees and has raised prices on some menu items. Baker Chris Skuce said he has absorbed the cost so far but expects to raise prices at some stage. The Australian Competition & Consumer Commission said businesses must not mislead consumers about prices or the reasons for changes.
Small businesses have rejected suggestions that they are the big winners from Labor's ban on credit card surcharges. Assistant Treasurer Daniel Mulino called the reform a huge positive for business, saying it will save small businesses $900 million a year. Choice head of policy Morgan Campbell said consumers benefit from knowing prices upfront. Restaurant and cafe industry chief Wes Lambert warned that changes to card scheme fees could push merchant fees higher, and that the sector already faces rising inflation and wage costs.
Now that the Reserve Bank of Australia has banned card surcharges, some businesses may offer discounts to customers who pay in cash. Cash use has fallen sharply since 2007, when 97 per cent of Australians used it weekly, but the RBA's 2025 survey recorded 50 per cent, slightly up from 47 per cent in 2022. University of Canberra economist John Hawkins expects only a modest rise, while RMIT professor Angel Zhong anticipates small increases at cafés and trades businesses rather than a broad return to cash.
The Australian Taxation Office has delayed its plan to stop accepting credit card payments following pressure from business groups. Treasurer Jim Chalmers intervened, and the government negotiated a delay until June 30 next year. The ATO had earlier announced the ban would start on November 30, in response to laws banning credit card surcharges being passed on to customers. Chalmers said extra funding will support a transition period and that small business concerns about the timeframe had been acted on.
Environment Minister Murray Watt has refused to concede the government's credit card surcharge ban was a mistake, despite growing concern from small businesses. Sunrise host Nat Barr pressed him on the backlash to the ban, which stops businesses passing credit card processing fees on to customers. The Australian Taxation Office will stop accepting credit card payments for tax debts from November 30. Opposition deputy leader Jane Hume said the ban could be the straw that broke the camel's back for small businesses already facing rising costs.
