Who must display comparison rate on credit product advertising?
The applicability test for Display comparison rate on credit product advertising (ASIC), computed across 35 industries, 9 business structures and 6 size bands.
Short answer: Some businesses
Applies when the business has an ACL or credit activity and consumer customers.
What the obligation is
Annual percentage + comparison rate must accompany credit product ads under NCCP Regulations.
NCCP Regulations require credit providers + brokers to display the comparison rate (calculated using prescribed formula) alongside any advertised credit product. The rate gives consumers a like-for-like comparison including fees.
The applicability test
Applies when the business has an ACL or credit activity and consumer customers.
How the regulator frames it: Credit providers + brokers advertising credit products.
What triggers it: Advertising a credit product.
Jurisdiction: Commonwealth law, so the test is the same in every state and territory.
Which industries are in or out
Outcome across the 35 industries Rules Mate maps (2 of 35: yes; 33 of 35: no).
| Industry | Answer |
|---|---|
| Banks & ADIs | Yes |
| Credit licensees & mortgage brokers | Yes |
| No | 33 other industries |
Business structure and size
Structure does not change the answer in the 2 industries it can reach: for every structure the answer is "yes".
Size does not change the answer in the 2 industries it can reach: at every size band the answer is "yes".
Worked examples
Each line is one run of the Rules Mate applicability engine for a single business profile, with the reason the engine gives:
- Pty Ltd company in banks & adis with 6–19 employees, turnover $1M–$3M: applies. Authorised deposit-taking institution · Sells to consumers.
- Pty Ltd company in real estate agents with 6–19 employees, turnover $1M–$3M: does not apply. Requires an ACL or credit activity and consumer customers.
Answers that bring it into scope
Starting from a small or large professional services company that does not otherwise meet the test, each of these single facts changes the engine's answer:
- The business holds an Australian credit licence (ACL): it then applies (ACL holder).
- The business provides credit to customers: it then applies (provides credit · Sells to consumers).
What you must do, and when
- When due
- Continuous.
- Frequency
- Ongoing
- Evidence to keep
- Advertising approvals; comparison rate calculations; archived ads.
- Status
- Current
- Priority
- High
Penalty for not complying
Maximum penalty: Civil penalties under NCCP + misleading conduct under ACL.
Audit or assurance level
Rules Mate has not yet classified the audit or assurance level for this obligation. Any audit, review or certification requirement is set by the regulator source listed below.
Obligations with the same applicability test
If this obligation applies to you, so do these 3: the engine uses the same rule for each.
What usually applies alongside it
Across the 1,890 business profiles Rules Mate evaluates, these obligations apply to most of the businesses this one applies to, and are far more common among them than among businesses generally:
- Comply with credit reporting obligations (Part IIIA Privacy Act): applies to 100% of the same businesses (17.5× the overall rate)
- Register security interests on the PPSR: applies to 100% of the same businesses (17.5× the overall rate)
- Banking Code of Practice 2025: applies to 50% of the same businesses (17.5× the overall rate)
Where it sits in the corpus
Rules Mate tracks 8 published obligations tagged "credit", 5 of them rated critical. For a professional services Pty Ltd company with 6–19 employees operating in every state, 0 of those apply outright. This obligation is rated high priority, and is an ongoing duty.
Regulator, legislation and tools
Regulated by Australian Securities and Investments Commission.
ASIC: Corporate regulator administering the Corporations Act, financial services and credit licensing (AFSL/ACL), markets supervision, insolvency, and registries (ASIC and ABRS).
NCCP Act: Federal regulation of consumer credit.
Free tools that help with this obligation:
Questions
- Who must display comparison rate on credit product advertising?
- Applies when the business has an ACL or credit activity and consumer customers.
- Do sole traders need to display comparison rate on credit product advertising?
- Yes. Looking in the 2 industries it can reach and every size band, the engine's answer for a sole trader is: yes.
- Do businesses with 1–5 employees need to display comparison rate on credit product advertising?
- Yes (1–5 employees, turnover $100K–$1M).
- When is "Display comparison rate on credit product advertising" due?
- Continuous.
Related
Sources
Computed by the Rules Mate applicability engine from the published obligation corpus; facts last checked 3 October 2026. Rules Mate is not a law firm and this is general information, not legal advice. Confirm your position with the regulator source or a qualified adviser before acting.