Member for Myall Lakes Stephen Bromhead said from now, all gift cards sold in NSW must have a minimum three-year expiry date, thanks to nation-leading reforms introduced by the state government.

Mr Bromhead said the move would put up to $60 million a year back in the hands of NSW shoppers.

“Previously, the majority of gift cards offered only a 12-month expiry date, but now consumers will have three years to cash in.” Mr Bromhead said.

“This is a big win for consumers in Myall Lakes and across NSW, many of whom have experienced the disappointment of going to use a gift card only to find it had expired.

“Recently I met with a couple in Forster who purchased cinema gift cards for their grandchildren for Christmas 2016. Their grandson found the card in his sock draw only to realise it had expired,” Mr Bromhead said.

“That’s money down for consumers but, thanks to this initiative, far less likely to happen in future.”

Minister for Innovation and Better Regulation Matt Kean said the move would put up to $60 million a year back in the hands of NSW shoppers.

“We all know how frustrating it is to try to make a purchase with a gift card only to find it’s expired,” Mr Kean said.

“This reform puts consumers first and is great news for everyone who enjoys giving gifts cards, or is lucky enough to receive them.”

For more information about the reforms, visit http://www.fairtrading.nsw.gov.au.