Australians will have a legal right to pay with cash for everyday purchases under new legislation being introduced by the Coalition.
Leader of The Nationals, Matt Canavan, and Shadow Minister for Financial Services, Kevin Hogan, have announced the Coalition will introduce the Cash is King Bill 2026, to protect the right to use cash.
Federal Member for Hinkler David Batt MP said most Australians assume they already have a right to pay with cash.
“But they don’t. There is currently no general right to pay with cash at the point of sale,” Mr Batt declared.
“Labor’s limited cash rules only cover supermarkets and fuel stations, purchases of $500 or less, and transactions between 7am and 9pm.
The Coalition’s Bill will go further, giving Australians a practical right to use cash across most of the in-person economy, while protecting small businesses.”
Under the Coalition’s Bill, we will:
Expand cash acceptance to major retailers, including chemists, hardware stores, department stores, restaurants and fast-food chains;
- Require Commonwealth agencies to accept cash for eligible over-the-counter payments, so government follows the rules it expects of businesses;
- Lift the transaction limit from $500 to $2,000 and remove the 7am to 9pm restriction; and
- Protect small businesses by exempting businesses with annual turnover below $10 million, providing exemptions for genuine safety risks, and prioritising education over fines for medium-sized businesses.
The Coalition estimates its Bill will cover more than 80 per cent of in-person retail transactions.
“Cash is legal tender. If you walk into a large business with a fifty-dollar note, you shouldn’t be turned away. That shouldn’t be controversial,” Senator Canavan said.
“If you can use cash to buy groceries, why can’t you use it to buy medicine, clothes or a meal from other large businesses too?”
Shadow Assistant Treasurer and Shadow Minister for Financial Services Kevin Hogan said the Coalition has 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. This is about the big businesses where most Australians do their shopping every day – big businesses who aren’t covered by Labor’s rules,” Mr Hogan said.
“Instead of their credit card debacle – the Government could have supported cash as a simple way to pay without a surcharge and to promote competition. Cash is the ultimate check on payment fees.
Australians should be able to choose how they pay, without being forced into a cashless economy. “Cash is king – and under the Coalition we won’t see it overthrown.”