The Australian Retailers Association (ARA) has welcomed the abolition of the carbon tax, which was repealed after being passed by the Senate 39 to 32.
The ACCC has greeted the repealing of the so-called Carbon Tax by warning wholesalers and retailers of their legal obligation to pass through savings caused by this removal onto the customer.
The federal government has released a draft bill to abolish the carbon tax as of 1 July 2014 with believe it will lower costs for Australian businesses and ease cost of living pressures for households.
Bruce Billson has been elected Minister of Small Business as part of Tony Abbott's unveiling of the new federal cabinet.
With Kevin Rudd back in power as Prime Minister, he has announced the termination of the carbon tax but the introduction of an emissions trading scheme.
Eighty per cent of retailers believe they have been negatively impacted since the carbon tax was introduced in July 2012.
Over 630 complaints were received by the ACCC about the carbon price since the commencement of the carbon pricing mechanism at the beginning of July.
The federal government successfully passed the carbon tax through the lower house on Wednesday but this has left many retailers heavy-hearted.
The AGHA as launched a campaign in a push for the federal government to cancel its carbon tax scheme, describing the tax as "an ill-conceived and lazy approach to the issue of climate change".
Further evidence has revealed that 65 per cent Australian business owners believe the federal carbon tax will have a negative impact on their business.
An industry survey has revealed that 83 per cent of retailers expect consumers will be spending less as a result of the carbon tax.
The Body Shop is one of about 100 businesses and associations to sign up to a coalition in support of a carbon price to help slash emissions.
The carbon pricing package will see retailers face increasing operaton costs throughout the supply chain and fewer goods being bought my consumers.