Radical change coming to $5 note in Australia as King Charles is ditched

King Charles III will be absent from the new $5 banknote - and will be replaced by a design with an Aboriginal theme. But Treasurer Jim Chalmers a year ago declared the new monarch and Australia's head of state would be unlikely to feature on one side of the note, following the King mother's death in 2022. King Charles will be absent from the new $5 banknote with the Reserve Bank of Australia formally announcing Aboriginal groups would be asked for suggestions The new $5 banknote will continue to feature Parliament House in Canberra but the public is being asked for ideas on the flip side. The Reserve Bank's assistant governor of business services Michelle McPhee on Friday announced the public would be asked for designs but only if they commemorated Australia's Indigenous heritage. The new $5 banknote will continue to feature Parliament House in Canberra but the public is being asked for ideas on the flip side The late Queen Elizabeth II has featured on the pink denomination since polymer notes were introduced in 1992, with the banknote last updated in 2016 Reserve Bank Governor Michele Bullock last month told a parliamentary hearing Aboriginal groups had already been consulted about the new $5 note.