The Assistant Treasurer has announced the Government will hold consultations over the next six months to consider regulation of indefinite and short term consumer leases.

Currently, short term leases of four months or less, as well as indefinite leases that have no fixed end date, are not regulated by the National Credit Act.

The consumer protections that apply to other consumer leases and forms of personal credit, such as licencing, responsible lending requirements and mandatory external dispute resolution membership, do not apply to these leases.