The Reserve Bank said today the banknotes will instead celebrate Australia’s Indigenous communities and the theme has been announced as “Connection the Country”.

“The imagery on the $5 banknote should recognise the enduring connection that First Nations peoples have to Country – as an emotional and spiritual connection, as much as a physical one,” the RBA said.

“Key to this theme is the recognition of First Nations communities’ contribution to the restoration and conservation of our environment. 

“Using traditional ecological knowledge First Nations peoples continue to act as custodians to sustain and conserve Country. 

“There is an opportunity for all Australians to learn from Australia’s original stewards on how to nurture and protect our fragile world.”

The theme was chosen after more than 2100 submissions were made by the public.

Final artwork has not been confirmed and the RBA said it should “avoid being tokenistic or stereotypical”.

The chosen theme will guide artists as they create a new design for the fresh $5 Australian banknotes.

“The tone for the banknote is of a hopeful future, where First Nation peoples’ connection to Country is celebrated and respected,” the RBA continued.

The other side of the note will continue to show Parliament House in Canberra even after the redesign.

The late Queen Elizabeth appeared on Australia’s lowest banknote between 1966 and 1984, when it was the $1 note, and from 1992 to the present day on the $5 note.

The RBA announced in 2023 it will replace the portrait of Queen Elizabeth II on one side of the note with a “design that honours the culture and history of the First Australians” following the monarch’s death in 2022.

It is expected the new banknote will take several years to be designed and printed.

Australia’s $5 banknote in its current form began circulating in 2016.