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ACCC Takes Next Step In Carbon Tax Compliance Process

by Mary Swire, Tax-News.com, Hong Kong

08 December 2014


The Australian Competition and Consumer Commission (ACCC) is working with electricity on-sellers to ensure that they pass on all carbon tax repeal cost savings to consumers.

The ACCC said that while it is continuing to access data and other information from electricity retailers, it is now expanding its focus. The Commission has contacted large electricity on-sellers to make sure that they are aware of their obligations. It will also be engaging with the industry more broadly, and is encouraging consumers to ask their electricity on-seller how it is passing on savings and to contact the ACCC if they are not satisfied with the response.

Under the terms of the Clean Energy Legislation (Carbon Tax Repeal) Act, electricity retailers and producers, gas retailers, and bulk importers of synthetic greenhouse gases must substantiate their pricing to the ACCC. They must demonstrate in a carbon tax removal substantiation statement that cost savings have been, will be, or are being passed on to consumers.

Electricity on-sellers are entities that buy electricity from retailers and on-sell it to customers on a site they own or operate. Examples of sites that may operate as on-sellers include caravan parks, shopping centers, and residential apartment blocks.

TAGS: compliance | Energy | tax | business | tax compliance | government committee | Australia | carbon tax | tax reform | retail | trade association | trade

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