1 Sep 2010

Half of retailers plan to pass on GST rise - survey

1:01 pm on 1 September 2010

A survey of 100 retailers by the accounting firm Staples Rodway has found that about half of them intend to pass the rise in GST on to their customers.

The Goods and Services Tax will rise from 12.5% to 15% from 1 October.

The survey found 48% of retailers plan to increase their prices, 14% say they will absorb the cost and 28% were undecided.

Another 6% were going to increase the cost of some of their items and absorb others, while 4% were waiting to see what their competitors would do.