Plan to end ex­piry date on gift card

The Sunday Mail (Queensland) - - NEWS - AN­NIKA SMETHURST

EX­PIRY dates could be abol­ished from all gift cards as part of a rad­i­cal suite of re­forms be­ing con­sid­ered by the Fed­eral Gov­ern­ment in time for Christ­mas.

Aus­tralians spend about $2.5 bil­lion a year on gift cards but up to 8 per cent are never redeemed, de­liv­er­ing re­tail­ers $200 mil­lion each year.

The Sun­day Mail can re­veal that the Fed­eral Gov­ern­ment is in­ves­ti­gat­ing na­tion­wide re­forms that would al­low shop­pers to use their gift cards and gift vouch­ers for longer.

As­sis­tant Min­is­ter to the Trea­surer Michael Sukkar con­firmed that he has sought ad­vice from Trea­sury on all op­tions to ad­dress con­sumer con­cerns about gift card ex­piry dates, in­clud­ing abol­ish­ing ex­piry dates al­to­gether.

While some con­sumer groups are push­ing for such a move, it is un­der­stood the Gov­ern­ment favours a min­i­mum of three years.

Mr Sukkar said states and ter­ri­to­ries would need to tick off on any change at the next Con­sumer Af­fairs Fo­rum sched­uled for Au­gust.

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