NSW Fair Trading has announced that it will be illegal for ticket resellers to charge more than the original price.
As of yesterday (June 1st), stiff fines will apply for infringements.
Maximum penalties are up to $11,000 for individuals and $22,000 for business, with Fair Trading offices able to issue infringement notices and $550 fines.
Transaction costs have also been capped at 10%.
“The new laws apply to all tickets to NSW events that are first sold or supplied by the authorised seller from 1 June 2018, and have a resale restriction,” the NSW Fair Trading website says.
“A resale restriction is a term or condition of a ticket that limits the circumstances in which the ticket may be resold, or prohibits resale of the ticket.”
Ticket resellers like Viagogo will no be required to show the original cost of the ticket to help punters avoid being fleeced.
“One of the aims of the ticket scalping laws is to provide for a legitimate resale market,” the NSW Fair Trading website says.
“Consumers who purchase an event ticket and can no longer attend should be able to sell that ticket to someone else and recover their costs in the process.”
The laws only apply to events held at venues in NSW.