New gift card regulations now in effect

For SA retailers.

Changes to gift card/voucher regulations are now in place for all retailers with stores in South Australia. Gift cards sold will now be subject to a minimum expiry period of three years from date of purchase.

To coincide with the change, the Australian Retailers Association (ARA) has provided background and an explanation to SA retailers.

“A six month transitional period is in place until 10 June 2019 for retailers to offload non-compliant stock. However, all gift cards sold within this period will need to be honoured for the full three-year non-expiry period.

“For gift cards/vouchers with an expiry period pre-coded that are not sold by the beginning of June 2019, retailers may need to write these off.

“Under the new laws, retailers are obliged to notify their customers of the changes by updating terms and conditions, websites and in-store flyers and posters.

“All interstate businesses should be exempt from the regulations to remove the possibility of incurring fines. Similar laws were introduced in NSW earlier in 2018.

“Some retailers have made the decision to reflect the changes nationally and will see three-year non-expiry gift cards in every state. If a retailer sells a gift card/voucher in Victoria which normally expires after 12 months, it would need to be valid for use in SA and NSW for at least three years.”

Tags:

Leave a Reply

Your email address will not be published. Required fields are marked *

*