Elise Archer,Minister for Building and Construction
Consumers who receive gift cards this Christmas can take comfort in the knowledge that new laws have ensured that all gift cards purchased from 1 November 2019 must come with a minimum three year expiry period.
This reform will help protect consumers from losing an estimated $70 million each year due to expired gift cards.
With the exception of a few limited-use gift cards and vouchers, all gift cards must now come with the minimum three year expiry period and the expiry date must be clearly marked on the card.
The changes also mean that it is now illegal for traders to charge post-purchase fees or administration charges that will reduce the value of the gift card, such as activation, account keeping and balance enquiry fees.
To support these changes, Consumer, Building and Occupational Services (CBOS) has undertaken an education and awareness campaign. This has included CBOS staff visiting 700 traders in 19 major retail precincts across the South, North and North West of Tasmania.
This program has found a high level of awareness and compliance with the new rules and, in cases of non-compliance, a willingness to update gift cards.
CBOS will continue to monitor compliance with the new rules.