Golden Miles Pty Ltd - s.87B undertaking

Undertaking date: 
15 June 2000
Undertaking type: 
s.87B undertaking
Reference number: 
D00/17245
Section: 
ss. 52, 53, 53A & 53C

Company or individual details

  • Golden Miles Pty Ltd
    059 724 677

Undertaking

In February 2000 the staff of Golden Miles Pty Ltd made oral representations regarding the price of properties after the implementation of the Goods and Services Tax (the GST). In summary Golden Miles Pty Ltd made oral representations that the price of specific apartments would increase by 10% because of the introduction of the GST.

Golden Miles Pty Ltd made an Undertaking agreeing to:

* Cease and in future refrain from making representations to the effect that:

  • a. The price of property will increase by 10% by July 2000 from the value of the property at the date of the agreement to purchase is signed because of the GST
  • b. That GST of 10% will be on property after 1 July 2000 where it is possible that the effect of the New Tax System will be an increase if less than 10% or
  • c. That by itself, servants and agents it will comply with section 75AU of the Act.

* That Golden Miles Pty Ltd will implement a trade practices compliance program

Attachments

d00_17245.pdf