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
Who must comply with this? The applicability test by industry, business structure and size.
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
- 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.