ACCC issues carbon tax guide | IR News

ACCC issues carbon tax guide

Posted Date: 29/05/2012

By Inside Retail

Online videos and downloadable information packs have been placed on the Australian Competition and Consumer Commission website to give retailers and other businesses advice on Carbon price claims.

And the ACCC has again warned traders not to raise prices and cite carbon tax as the reason.

Addressing the Annual Professional Symposium of the Institute of Public Accountants in Hobart, ACCC deputy chair Dr Michael Schaper also released a business snapshot summary of the updated Guide.

“One month away from the introduction of the carbon price is a timely opportunity for businesses to consider what claims they want to make about the impact of the carbon price, and the need to do so with a reasonable basis.”

In response to industry consultation and feedback, the ACCC has revised its business guidance and released the web videos to further assist businesses in understanding their rights and obligations when making claims about the impact of the carbon price.

The Guide, and other information, can be found here.

The updated Carbon price claims – Guide for business addresses issues arising out of engagement with key industry associations and small business, including information to support carbon price claims, and dealing with suppliers. The Guide also provides more practical guidance on specific issues experienced by small businesses and gives examples to illustrate how the guidance applies in practice.

“The ACCC is publishing this updated guide to assist businesses in understanding their rights and obligations, and in response to feedback we have received from businesses and industry associations concerning what would be helpful to them.”

“The Guide will assist businesses when considering what claim they may make about the impact of the carbon price.”

“To date, the issues concerning small businesses generally fall into the category of ill-informed statements about the impact of the carbon price on their costs and prices. The Guide seeks to assist businesses with the key issues to consider when making a carbon price claim.

“Businesses are entitled to increase their prices as they see fit - it is business as usual. Leading up to and following the 1 July 2012 start of the carbon price - the same legal obligations not to mislead or deceive apply.”

If a business claims that a price rise is linked to the carbon price, the claim must be truthful and have a reasonable basis. If a business decides to make a claim, it should be based on information that is relevant to that particular business. Businesses should be aware that the ACCC can ask for information to support claims about the carbon price.

The ACCC will continue to engage with industry associations and small business to develop further guidance for businesses and consumers as issues arise.The release of the updated Carbon price claims – Guide for business and web videos follow the launch of the first version of the Carbon price claims – Guide for business in November 2011, the release of the Business snapshots series on 22 March 2012 and the ACCC Consumers and carbon price claims guide on 15 March 2012.

Keywords: Carbon tax, ACCC

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