Share this @internewscast.com


Every week we will break down, debunk and demystify your rights as a shopper in Australia. This week we are looking at retailers who specify what type of payment they want – typically cash – and whether that’s legal.

We all know life is getting more expensive than ever before, and how important it is to stretch every dollar you make.

That’s why each week we’ll answer a question surrounding what shoppers are – and aren’t – entitled to when dealing with retailers and manufacturers.

Is it legal for businesses to request that they only be paid in cash? (Getty Images/iStockphoto)

A few days ago I was waiting for the bus when I decided I should grab a bottle of water to take with me to work. There was a convenience store down the road from the bus stop, so I scrambled inside and grabbed a bottle. When I went to pay, the shop had a sign on the register that said “CASH ONLY”. I only had my cards on me. Is it legal for shops to do this even though almost everyone uses card?

The short answer is yes, it is legal.

According to the Reserve Bank of Australia, the provider of the goods or services is “at liberty to set the commercial terms upon which payment will take place before the ‘contract’ for supply of the goods or services is entered into”.

In simple language, as long as it is made clear before a product has been purchased or a service has started, it is legal for a business to dictate how it would like to be paid – as long as the other party agrees, of course.

Many businesses accepted card payments only during COVID-19 over fears of handling physical money. (Supplied)

This is why it was legal for some businesses to accept only cash during the height of COVID-19, and why it’s legal for little vending machines to say they’ll only accept gold coins.

They are laying out the terms of the sale before you enter into it.

Now, given it is 2022 and many people use digital payment methods, it’s likely to heavily restrict your business if you stipulate that you’ll only accept cash.

A lot of people are also wondering about tax.

This is referred to as the “black economy”, a whole sector of money changing hands without any tax paid on it at all.

Again it’s legal to operate a cash only business, as long as you keep thorough records and pay the correct amount of cash.

Australia’s top 10 richest people of 2022 revealed

The information provided on this website is general in nature only and does not constitute personal financial advice. The information has been prepared without taking into account your personal objectives, financial situation or needs. Before acting on any information on this website you should consider the appropriateness of the information having regard to your objectives, financial situation and needs.

Share this @internewscast.com
You May Also Like

Seeking parole, South African former athlete Pistorius meets with girlfriend’s father

South African former athlete Oscar Pistorius has met with the father of…

Free licences and cheaper licence renewal on offer in Victoria as VicRoads becomes partly privatised

Victorian drivers will be offered a discount on their licence renewal and…

Arrest after man found dead on Melbourne suburban street

When they arrived, they found a man dead in the street. Police…

French court convicts 20 over 2015 Paris terror attacks

A special French court on Wednesday found 20 men guilty of involvement…

Transport Minister condemns rail union strike action

The New South Wales transport minister has called the ongoing rail strike…

NATO calls Russia its ‘most significant and direct threat’

NATO declared Russia the “most significant and direct threat” to its members’…
The Duchess of Cambridge wore the same £1,550 Emilia Wickstead double-crepe midi dress in April 2016 for an event during her India and Bhutan visit with her husband William

Jacinda Ardern channels Kate Middleton in the same Emilia Wickstead dress

Jacinda Ardern is a real copy-Kate! New Zealand Prime Minister channels the…

Woman accused of killing elite cyclist captured in Costa Rica after 43 days on the run

Kaitlin Marie Armstrong, 34, was found Wednesday at a hostel on Santa…