WHEAT TAX.

No. 52 of 1938.

An Act to impose a Tax upon Wheat grown in Australia and sold to a Wheat Merchant.

[Assented to 2nd December, 1938.]

BE it enacted by the King’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—

Short title.

1. This Act may be cited as the Wheat Tax Act 1938.

Commencement.

2. This Act shall come into operation on the day on which it receives the Royal Assent.

Incorporation.

3. The Flour Tax (Wheat Industry Assistance) Assessment Act 1938, other than sections ten, eleven, twelve, fourteen, fifteen, sixteen, seventeen, twenty-three, twenty-four, twenty-five, twenty-six and sub-section (1.) of section eighteen, shall be incorporated and read as one with this Act.

Imposition of tax.

4. A tax is imposed upon wheat grown in Australia and, on or after a date to be fixed by Proclamation, sold to a wheat merchant.

Rate of tax.

5.—(1.) The rate of tax, not in any case exceeding One shilling per bushel of wheat, shall be such rate per bushel of wheat as the Minister, from time to time, and in accordance with a recommendation by the Committee, declares, by notice published in the Gazette, to be the amount which bears the same proportion to the excess of the price of a bushel of wheat free on rails at Williamstown, in the State of Victoria, at the time of the recommendation by the Committee, over Five shillings and twopence as the quantity of wheat which, in the opinion of the Committee, will be consumed in Australia (whether as wheat or as products derived from wheat) during the twelve months following the preceding first day of October bears to the total crop which, in the opinion of the Committee, will be harvested during that period.

(2.) For the purposes of this section, “the Committee” means the Wheat Stabilization Advisory Committee constituted under the Wheat Industry Assistance Act 1938, and “price”, when used in relation to wheat, means value for export.