It is the season for gift cards - make sure you know the new rules!
On 1 November 2019, new laws about gift cards came into effect. Previously, there was no nationally uniform law regarding minimum expiry dates, and it has been estimated that $70 million is lost annually by consumers due to gift cards expiring before consumers had a chance to redeem them. On the flip side, gift card expiry dates are important for businesses so that they are not hindered by carrying liabilities year on year. So, the new rules aim to balance the needs of busine