The public compliance commitment reflects the Commonwealth Bank Group's ("the Commonwealth") strong culture of compliance and its intention to be open and direct with its customers and the ACCC in relation to the effects of the New Tax System.
In particular, this document shows the Commonwealth's commitment to:
- complying with Part VB of the Trade Practices Act 1974;
- complying with the ACCC's Price Exploitation Guidelines;
- passing onto consumers any net realised cost benefits arising from the New Tax System; and
- advertising and displaying GST inclusive prices in a manner which is not misleading or deceptive.
Final PCC Public Register Acknowledgment
Commonwealth Bank has completed it’s repricing associated with the New Tax System and has met the requirements of it’s Public Compliance Commitment agreement with the ACCC.