GST INCREASE INFORMATION
Goods & Service Tax (GST) has increased from 12.5% to 15% effective 1st October 2010.
We believe in being completely transparent in dealing with this change. An explanation of how we are handling the increase is below.
Ecostore brand products.
We are absorbing the GST increase and leaving our retail price points the same within our store and direct online.
3rd party supplier’s products.
Some suppliers have absorbed the cost of the GST rise for us. Where they have we have left the retail price points at pre 1st October levels.
Some suppliers have left their wholesale prices the same, and will be charging GST at 15%. Where this has happened we have increased the retail price points by the increase in GST, no more. You will notice that some products have a non industry standard price, for example $10.21. We have not increased our prices any further than the extra increase in GST.
Some suppliers are increasing their prices from 1st October in addition to the GST rise. Where this has happened we will only put up our prices once we receive new stock from that supplier at the new rate. This may mean that prices will go up by 2.2% initially and once we receive new stock there will be another price rise. This will always be driven by the new prices set by the supplier, not by us.
We are absorbing the GST increase and our freight charges remain at pre 1st October levels.
If you have any questions please contact Annabelle Pottinger, Retail Manager on 09 360 4733 or firstname.lastname@example.org.