Small businesses to raise prices after RBA scraps surcharges | Sunrise

The Reserve Bank of Australia has scrapped surcharge payments on card transactions, but small businesses warn they will pass these costs onto consumers through higher prices. Small business owners report struggling with mounting expenses including fees, taxes, payday super payments, minimum wage increases, and the abolition of junior award rates. The debate centres on whether banks making record profits should absorb transaction processing costs, or whether small businesses and consumers will bear the burden. Get the latest news » https://7news.com.au 7Plus » https://7plus.com.au/ More from Sunrise » https://sunrise.com.au Subscribe to Sunrise » https://7news.link/SunriseSubscribe Subscribe to the Sunrise newsletter » http://7sunrise.link/Newsletter Connect with Sunrise online: Facebook » https://www.facebook.com/Sunrise Instagram » https://www.instagram.com/sunriseon7/ TikTok » https://www.tiktok.com/@sunriseon7 X » https://x.com/sunriseon7 #SunriseOn7 #7NEWS