Pass on carbon tax savings, warns ACCC

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Pass on carbon tax savings, warns ACCC

The ACCC is warning businesses that supply "regulated goods" to pass on any cost savings resulting from the removal of the carbon tax.

It might be unikely your small business will be affected, as the regulated goods in question are electricity, natural gas, synthetic greenhouse gases (for example, refrigerant gases) or synthetic greenhouse gas equipment (for example, refrigerators and air-conditioners).
 
But you might want to keep an eye on your suppliers of those goods to check they are passing on any savings in full. If you think that's not happening, you can challenge the supplier; if you're still not satisfied, contact the ACCC on 1300 302 502 or lodge a complaint online.
 
If recent reports are anything to go by, any reduction in the price of electricity and gas attributable to the removal of the tax could be swamped by other factors such as overseas demand for natural gas and rising distribution and transmission costs for electricity.
 
"If suppliers of regulated goods put their prices up due to the carbon tax, these prices must similarly come down on repeal," said ACCC chairman Rod Sims said.
 
"If these businesses don't do that, they will be looking at serious court action from the ACCC and significant monetary penalties."
 
Those penalties can be as much as $1.1 million for corporations and $220,000 for individuals - per contravention. The court can also require infringing suppliers to pay refunds to their customers.
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