David Jones is committed to complying with the Trade Practices Act 1974, including new legislation enacted by the Commonwealth Government to prevent business from exploiting the tax reform process to increase profits (Part VB of the Trade Practices Act 1974 - Price Exploitation in relation to A New Tax System).
This commitment reinforces the existing David Jones trade practices compliance program, and David Jones' policy of conducting its business in accordance with the law.
David Jones commits to:
i) Complying with the Trade Practices Act 1974, in particular Part VB regarding prior exploitation;
ii) Not engaging in price exploitation in relation to the NTS,
iii) Complying with our interpretation and understanding of the intent of the ACCC's Guidelines;
iv) Passing through to consumers in price any net cost benefits realised as a result of the NTS changes;
v) Advertising and displaying GST inclusive prices in a way that is not misleading or deceptive; and
vi) Ensuring there is an effective on-going compliance program in place.
Final ACCC acknowledgment
David Jones Limited 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.