A Sunshine Coast federal MP says Australians should have greater rights to use cash for everyday purchases, arguing the issue is particularly relevant in a region with a large older population.
Member for Fisher Andrew Wallace issued a statement backing the Coalition’s Cash is King Bill 2026, which would protect Australians’ right to use cash at major retailers, restaurants, chemists and other businesses.
“Cash is legal tender, and Australians should have the freedom to choose how they spend their own hard-earned money,” he said.
“If you walk into a shop with a $50 note, you shouldn’t be turned away simply because you want to pay with cash. It’s your money, and it should be your choice.
“Here on the Sunshine Coast, we have a significant population of retirees and older Australians who rely on cash for everyday purchases.
“For many pensioners and families already struggling with the rising cost of living, cash is also an important budgeting tool that helps them keep track of every dollar.”
While cash remains legal tender, there is currently no general legal requirement for retailers to accept it.
Labor’s existing cash acceptance rules require most grocery and fuel retailers to accept cash for in-person transactions of $500 or less between 7am and 9pm. The mandate does not currently extend to other retail sectors.
The Coalition’s legislation would go further, with an estimated 80 per cent of in-person retail transactions covered.
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The bill would expand mandatory cash acceptance to major retailers and Commonwealth agencies, raise the transaction limit from $500 to $2000 and remove the 7am to 9pm restriction. Businesses turning over less than $10m would be exempt, with further exemptions for genuine safety risks and an education-first approach for medium-sized businesses.
Shadow Assistant Treasurer and Shadow Minister for Financial Services Kevin Hogan MP said around 1.5 million Australians relied on cash for most of their purchases.
“If you can use cash to buy groceries, why can’t you use it to buy medicine, clothes or a meal?” he said.
“We’ve been careful to protect small business. We don’t want to add red tape for small businesses. If a business faces a genuine security risk, it’s exempt.”
Mr Wallace said protecting cash was also essential during natural disasters and telecommunications outages.
“On the Sunshine Coast, we know all too well the disruption that severe storms, flooding and power outages can cause,” he said.
“When the power goes out or telecommunications networks fail, electronic payment systems can go down with them.
“Cash provides a reliable backup, particularly during emergencies when families need to purchase essential supplies and doesn’t attract a card surcharge, doesn’t require an internet connection and gives Australians greater privacy and control over their finances.
“This is about protecting consumer choice while ensuring small businesses aren’t burdened with unnecessary red tape.
“Whether you’re a pensioner, a parent teaching your children how to budget, or someone who simply prefers using notes and coins, you should have that choice.”
