New Laws For Ticket Scalping and Gift Cards

New amendments to the Fair Trading Act 1987  targeting ticket scalping and gift cards will commence in NSW in 2018. The changes include:
Ticket Scalping
1. A ticket to an event such as a concert or sporting fixture cannot be re-sold for more than the original price plus a maximum of another 10% for transaction costs.
2. The maximum penalty for contravention will be $22,000 for individuals and $110,000 for corporations.
3. Any advertisement for the re-sale of a ticket cannot specify a sale price more than 110% of the original price.
4. The use of software to enable persons to rapidly buy large numbers of tickets is banned.
Gift cards 1. All gift cards must have an expiry date of no less than 3 years. 2. No charges or fees can be imposed by a retailer so as to reduce the redeemable value of the gift card.