Consumers will now be able to enjoy extended expiry dates on gift cards thanks to nation-leading reforms introduced by the NSW Government.
Baulkham Hills State Liberal MP David Elliott said from Saturday 31 March, all gift cards sold in NSW must have a minimum three-year expiry date.
Mr Elliott said the move would put up to $60 million a year back in the hands of NSW shoppers.
“Previously, the majority of gift cards offered only a 12-month expiry date, but now consumers will have three years to cash in – and that’s a big win,” Mr Elliott said.
“This is a big win for consumers in Baulkham Hills, many of whom would have experienced the disappointment of going to use a gift card only to find it had expired.
“That’s money down for consumers but, thanks to this NSW Government initiative, far less likely to happen in future.”
Minister for Innovation and Better Regulation Matt Kean said the move would put up to $60 million a year back in the hands of NSW shoppers.
“We all know how frustrating it is to try to make a purchase with a gift card only to find it’s expired,” Mr Kean said.
“This reform puts consumers first and is great news for everyone who enjoys giving gifts cards, or is lucky enough to receive them.”
For more information about the reforms, visit http://www.fairtrading.nsw.gov.au.