This report contains observations about the key consumer and fair trading issues arising from COVID-19. It also details the activities conducted by the ACCC to assist consumers and businesses deal with the immediate impacts of the pandemic, as well as providing insights into the work being undertaken to address the long-term effects of COVID-19.
Pursuant to sections 60CA(5) and 60FD(11) of the Competition and Consumer Act 2010, the ACCC is required to report to Parliament on penalties payable by entities that contravened the prohibition against price exploitation and failed to pass through all of their cost savings attributable to the carbon tax repeal, and compliance by all entities with the requirement to provide carbon tax removal substantiation statements.
Pursuant to s 60J of the Competition and Consumer Act 2010 (CCA), the ACCC is required to report to the Hon. Bruce Billson MP, Minister for Small Business, on its operations relating to the carbon tax price reduction obligation. This report covers the work of the ACCC during the March 2015 quarter.