Treasury Laws Amendment (Doubling Penalties for Accc Enforcement) Bill 2026

The majority voted against an amendment introduced by Tasmanian Senator Nick McKim (Greens), which means it was unsuccessful.

Amendment text

Page 6 (after line 9), at the end of the Bill, add:

Schedule 2 — Price gouging

Competition and Consumer Act 2010

1 Subsection 4(1)

Insert:

competitive price has the meaning given by subsection 46(2B).

2 Before subsection 46(1)

Insert:

Substantially lessening competition

3 After subsection 46(1)

Insert:

Price gouging

(2) A corporation that has a substantial degree of power in a market must not engage in conduct that results, or is likely to result, in:

(a) a good or service being acquired by another person, or supplied to another person, at a price that is excessive; or

(b) an offer being made to another person for the other person to acquire a good or service, or for the other person to be supplied a good or service, at a price that is excessive; or

(c) an agreement being entered into by another person for the other person to acquire a good or service, or for the other person to be supplied a good or service, at a price that is excessive.

(2A) For the purposes of subsection (2), in determining whether a price for the acquisition or supply of a good or service is excessive, regard must be had to the competitive price for the good or service.

(2B) The competitive price , for a good or service, is the price at which the good or service would have been acquired by, or supplied to, the other person if the corporation did not have a substantial degree of power in that market.

(2C) Subsection (2) does not apply in relation to a price for the acquisition or supply of a good or service if a law of the Commonwealth, or of a State or Territory, requires or allows the good or service to be acquired or supplied at that price.

(2D) Subsection (2) does not apply to a corporation if the sum of the following amounts is less than $10,000,000:

(a) the corporation’s turnover;

(b) the turnover of all bodies corporate that are related to the corporation;

where the turnover is worked out under subsection (9) for the corporation’s last income year (within the meaning of the Income Tax Assessment Act 1997 ) that ended at or before the time when the conduct is engaged in.

General provisions

4 At the end of section 46

Add:

Provisions relating to turnover

(9) For the purposes of subsection (2D), the turnover of a corporation, or of a body corporate, for a period is the sum of the values of all supplies the corporation, or body corporate, made during the period, other than the following:

(a) supplies that are input taxed;

(b) supplies that are not for consideration (and are not taxable supplies under section 72‑5 of the A New Tax System (Goods and Services Tax) Act 1999 );

(c) supplies that are not made in connection with an enterprise that the corporation, or body corporate, carries on;

(d) supplies that are not connected with the indirect tax zone.

(10) Expressions used in subsection (9) that are also used in the A New Tax System (Goods and Services Tax) Act 1999 have the same meaning as in that Act.

5 Application

The amendments of section 46 of the Competition and Consumer Act 2010 made by this Schedule apply in relation to conduct engaged in on or after the commencement of this item.