One FY27 change you might have missed: as of July 1, if a petrol station or supermarket refuses to allow a customer to pay with cash, they could receive a penalty of up to $198,000 from the ACCC (presumably via bank transfer).

Despite its dwindling popularity - especially amongst younger Aussies - cash still floats around our economy, used regularly by around 1.5 million people.

In today’s newsletter, we take a look at another cash-friendly change announced this week.

Rideshare giant Uber has announced it will begin accepting cash payments for selected services from July 16, marking a major shift for the app that helped move the taxi industry away from cash.

Uber said the change will “better serve passengers” who prefer using cash.

Here is what you need to know about the changes.

Launched in 2010 in San Francisco, Uber (then UberCab) transformed the global taxi industry by putting the entire booking and payment process onto a smartphone.

Now, Uber is bringing one part of that system full circle by allowing passengers to pay cash for eligible trips.

Booking an Uber will remain largely the same, except riders can now select cash as their payment method before requesting a trip. Payment is still made at the end of the journey.

Drivers can choose whether they want to accept cash trips by opting in through the app.

If a passenger does not have the exact fare, the driver will accept the cash they have. Uber says the remaining amount will be refunded to the rider as Uber credits, with the difference deducted from the driver's Uber account. Riders can also split their payment, paying part in cash and the remainder through the app.

Uber says all of its existing in-app safety features, including GPS trip tracking and customer support, will remain in place for cash trips.

Roughly 15% of transactions in Australia are still made with cash, according to the Reserve Bank of Australia.

The rollout follows successful pilot programs in Launceston, Tasmania, and Bunbury, Western Australia.

Queensland will not be included in the rollout, although Uber has not given a reason.

Cash payments will not be available for intercity trips, courier deliveries, Uber Pool or Uber for Teens. Riders with a low rating will also be unable to pay with cash.

UberX trips from Sydney Airport and Melbourne Airport terminals 1 and 2 are also excluded, although some trips from those airports that do not require a four-digit PIN will still be eligible.

Australia is joining a growing list of markets where Uber accepts cash payments.

The company has already introduced the feature in a number of countries, including the U.S. and parts of the United Kingdom, after trialling it in selected Australian cities.

Uber says the change is designed to give passengers more payment options, particularly those who prefer using cash to manage their spending or who may not have access to digital payment methods while travelling.

Reporting by Lachlan Keller.

A record number of exchange-traded funds (ETFs) hit the Australian Securities Exchange (ASX) last financial year, as demand for the investment product continues to surge.

The 2026 financial year saw a record 72 ETFs listed, bringing the total to 458. The ASX expects that number to surpass 500 during the next financial year.

Here's what to know.

An ETF is an investment fund that trades on the stock market like a share. It can track the performance of an asset, an index, a group of companies or even an investment strategy.

For example, an ETF might track the ASX 200, the S&P 500, gold prices or a basket of technology companies. There are also more niche ETFs, such as the NANC ETF, which tracks the disclosed share trades of Democratic members of the US Congress.

According to the ASX, ETF trading activity grew by 26% during the 2026 financial year, compared with 22% growth across the broader share market.

More than $50 billion was invested in Australian ETFs last financial year alone.

ETFs have surged in popularity in recent years, particularly among younger Australians.

According to the ASX, nearly one in five Gen Z investors (those born between 1997 and 2012) now invest in ETFs.

Many investors see ETFs as a low-cost and simple way to invest across multiple companies or asset types without having to actively manage a portfolio.

For example, someone wanting to invest in sustainable companies can choose an ETF that invests only in businesses meeting certain environmental or ethical standards.

Some economists argue Labor's capital gains tax changes, due to take effect from July 2027, could make ETFs even more attractive.

Under the current system, investors can offset losses on one investment against gains on another, reducing the amount of tax they pay.

From July 2027, the 50% capital gains tax discount will be replaced with two changes: capital gains will first be adjusted for inflation before tax is calculated, and a new minimum 30% tax rate will apply.

Because gains receive the inflation adjustment but losses do not, investors with individual shares could end up paying more tax than they would under the current system.

ETFs are generally less affected because gains and losses across the fund's underlying investments are offset within the fund before investors are taxed. Investors still pay tax on any distributions they receive and on any capital gains when they sell their ETF units.

While ETFs are often seen as a simple investment option, economists warn against a "set and forget" approach.

Investors still need to understand what an ETF invests in, as different funds carry different levels of risk.

Like any investment, ETFs can lose value if the shares or assets they hold fall in price. Some ETFs also focus on a single industry, country or investment theme, making them riskier than more diversified funds.

Investors should also compare management fees, as these vary between providers and can reduce long-term returns.

ETF providers are among the biggest beneficiaries of the sector's rapid growth, earning management fees from investors.

These fees vary from fund to fund but are often well below 1% of the value of an investor's holdings each year.

The ASX also benefits by attracting more investment activity to the market and has reduced listing fees to encourage more ETFs to launch.

Despite the risks, ETFs continue to appeal to many investors looking for a relatively low-cost and straightforward way to build a diversified investment portfolio.

Reporting by Lachlan Keller.

50% off Moonpig, plus zero risk of being a birthday ick offender

Moonpig surveyed Aussies on their biggest birthday icks - turns out we've all probably been victims. Over 1 in 3 of us have copped last-minute cancellations, unapproved Insta posts and regifted presents. Skip the cringe this year - get 50% off Moonpig's personalised cards and gifts with code BDAY50, ends 31 August.

"I just want milk that tastes like real milk."

Well, you might want to skip Lactalis Australia, which has been fined $59,400 by the Australian Competition and Consumer Commission (ACCC) for falsely labelling some of its dairy products.

The company labelled two milk products as being made with fresh milk, but they were found to contain a "substantial" amount of powdered milk instead.

The ACCC said Lactalis made "false or misleading representations" on its Ferguson Valley WA Dairy Fresh 2L Milk and Golden North Country Fresh 2L Milk products.

Reporting by Lachlan Keller.