Small Amount Credit Contract + Consumer Lease caps (post-SACC reforms)
SACC + consumer lease fee caps + responsible lending tightened post-Royal Commission.
Who must comply
SACC providers + consumer lease providers (Cash Converters, BNPL-adjacent).
What triggers it
Providing SACC or consumer lease.
When due
Continuous.
Evidence required
Cost cap compliance; protected earnings calculations; documentation.
Max penalty
Civil + criminal penalties to NCCP maximum
Summary
Treasury Laws Amendment (Financial Sector Reform) Act 2022 (Cwlth) introduced SACC + consumer lease reforms including total cost caps + protected earnings amount caps for SACC borrowers + consumer lease providers. Restrictions on unsolicited offers.
Enforced by
Source legislation
Industries
Topics
Related obligations
- CWLTHComply with NCCP responsible lending obligationsCredit licensees must not enter into credit contracts unsuitable for the consumer.
- CWLTHMortgage broker best interests dutyBrokers must act in the consumer's best interests when providing credit assistance.
- CWLTHBNPL providers — credit licensing from 10 June 2025BNPL captured by the NCCP Act as a regulated credit product from 10 June 2025.
- CWLTHConsumer Credit Hardship Notice (NCC ss 72-73)Credit providers must respond to hardship notice + assess variation request.
- CWLTHRespond to hardship notices within statutory timeframeCredit providers must consider hardship notices within 21 days under s 72 NCC.
- CWLTHDisplay comparison rate on credit product advertisingAnnual percentage + comparison rate must accompany credit product ads under NCCP Regulations.
Frequently asked questions
- Who must comply with Small Amount Credit Contract + Consumer Lease caps (post-SACC reforms)?
- SACC providers + consumer lease providers (Cash Converters, BNPL-adjacent).
- What triggers Small Amount Credit Contract + Consumer Lease caps (post-SACC reforms)?
- Providing SACC or consumer lease.
- When is Small Amount Credit Contract + Consumer Lease caps (post-SACC reforms) due?
- Continuous.
- What is the maximum penalty for Small Amount Credit Contract + Consumer Lease caps (post-SACC reforms)?
- Civil + criminal penalties to NCCP maximum
- What evidence is required for Small Amount Credit Contract + Consumer Lease caps (post-SACC reforms)?
- Cost cap compliance; protected earnings calculations; documentation.
Source: https://asic.gov.au/regulatory-resources/credit/. Rules Mate is not a law firm. Always verify against the live regulator source before acting.