Businesses have certain rights and responsibilities when setting and displaying the prices of their goods and services.
Setting prices
Businesses are free to set their prices and discount their goods and services as they see fit, but they must set their prices independently of their competitors. Pricing goods below cost can be illegal in certain circumstances.
Displaying prices
Prices displayed by a business must be clear, accurate and not misleading to consumers. You should always display the total price of a product or service. Certain grocery retailers must also display unit pricing on their shelf labels.
Payment surcharges
If a business chooses to impose a surcharge on its customers for making a payment using a credit, debit or prepaid card, the level of the surcharge must not be excessive. The ACCC will investigate complaints of excessive payment surcharging and take enforcement action where necessary.
Carbon tax repeal
The Clean Energy Legislation (Carbon Tax Repeal) Act 2014 (the Act) which received Royal Assent on 17 July 2014, gave the ACCC powers under the Competition and Consumer Act 2010 (CCA) to monitor prices and ensure cost savings attributable to the carbon tax repeal were passed on in the regulated industries.