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On this episode of The nestegg Podcast, host Maja Garaca Djurdjevic and three experts discuss whether owner-occupiers should withdraw from the property market, the effects of Tuesday blues on the ASX, upcoming super changes and more.

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Steve Waters, director of Right Property Group, chats about current property price movements and whether owner-occupiers are being priced out of the market.

RMIT’s senior lecturer of finance, Dr Angel Zhong, delves into the Tuesday blues effect and the implications for Aussie investors.

And lastly, tax and super guru Timothy Munro talks about upcoming super changes and shares his handy checklist ahead of tax time.

Have a question for our experts? Get in touch at [email protected] and you might get featured on the next episode.

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When ‘was/now’ pricing doesn’t add up

By Grace Ormsby

January 17 2020
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When ‘was/now’ pricing doesn’t add up

By Grace Ormsby
January 17 2020

An Australian retailer has been slammed by a consumer watchdog for allegedly misleading consumers about the “was/now” price comparisons it was providing on its website.

When ‘was/now’ pricing doesn’t add up

By Grace Ormsby

January 17 2020
Share

An Australian retailer has been slammed by a consumer watchdog for allegedly misleading consumers about the “was/now” price comparisons it was providing on its website.

Outdoor Supacentre Pty Ltd – trading as 4WD Supacentre – has paid $63,000 in penalties after being issued with five infringement notices.

According to the Australian Competition and Consumer Commission (ACCC), between December 2018 and January 2019, 4WD Supacentre advertised some of its highest-selling products with a high “was” price and a low “now” price, despite the products not being advertised or sold by the retailer at the “was” price at any time during the previous three months.

“4WD Supacentre advertised a camp oven with a ‘was’ price of $279 and a ‘now’ price of $84, representing an apparent saving of $195. In fact, the camp oven had not been advertised at a price higher than $104 for the three-month period beforehand,” a statement said.

Mick Keogh, acting chair of the ACCC, said the watchdog was “very concerned that this was misleading consumers into thinking they could achieve significant savings with 4WD Supacentre, when this was not necessarily the case”.

“Businesses must tell the truth when advertising ‘discounted’ prices and must not fabricate increased savings,” Mr Keogh explained.

“All businesses should ensure they provide consumers with accurate price information, enabling informed choices by consumers based on potential savings and an even playing field for competing businesses which are doing the right thing.”

The consumer watchdog indicated it had also accepted a court-enforceable undertaking in which 4WD Supacentre committed to not engage in similar conduct.

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About the author

Grace Ormsby

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.

About the author

Grace Ormsby

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