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Gift cards will have a minimum expiry date of three years from initial purchase. Photo: 123RF Forgetful shoppers are about to get a lifeline, after legislation to extend gift card expiry dates passed its third and final reading at Parliament. The private member's bill - originally introduced by National's Melissa Lee and handed over to her party colleague Dan Bidois when she became minister - will amend the Fair Trading Act 1986 to ensure gift cards have a minimum expiry date of three years from their initial purchase. "Today is a good day for consumers, who will have clarity to know that when they have a gift card they are able to realise the full value of that gift card. "Today is a good day for businesses, who will have clarity on their liability when they issue gift cards. And today...

ACC's motor vehicle fund, work fund, and earners' account are in line for levy rises. Photo: 123rf The Accident Compensation Corporation (ACC) has revealed a nearly $1 billion hole in revenue will need to be covered when levies are raised next year. ACC says it will need to collect $4.7 billion in levies in the 2025/26 financial year, to fund support for about 930,000 claims on three levy schemes - the motor vehicle fund, the work fund, and the earners' account. In the 2022/23 financial year, ACC brought in just under $3.8 billion in levies from those accounts, and it didn't cover the claims being made. It has signalled levies will need to take a significant jump over coming years in order to cover increasing costs, likely by up to about 20 percent. Consultation is beginning on proposed...