Coalition proposes bill to broaden cash-payment protections and raise transaction limits

The opposition coalition announced a "Cash is King" Bill intended to strengthen cash-payment safeguards beyond the Labor government’s mandate that began on January 1. Under the proposal, major retailers would be forced to accept cash for in-person sales, the transaction ceiling would increase from $500 to $2,000, and the existing 7 am-9 pm limitation would be removed. Commonwealth agencies would have to follow the same standards, though small businesses could claim exemptions if safety risks are demonstrated.

Kevin Hogan, the opposition’s financial services spokesman, said one outlet rules leave out essential goods like medicine, clothing and hardware. He cited his Northern Rivers electorate, where floods have repeatedly knocked out digital payment options, as evidence that cash must remain viable. Hogan framed the measure as a check on payment-processing fees and a defence of consumer choice.