GOLD TAX.

No. 52 of 1939.

An Act to impose a Tax upon Gold.

[Assented to 15th December, 1939.]

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 Gold Tax Act 1939.

Commencement.

2. This Act shall be deemed to have come into operation on the fifteenth day of September, One thousand nine hundred and thirty-nine.

Extension to Territories.

3. This Act shall extend to the Territories of the Commonwealth.

Incorporation.

4. The Gold Tax Collection Act 1939 shall be incorporated and read as one with this Act.

Imposition of tax.

5. A tax is imposed upon gold delivered to the Commonwealth Bank of Australia, or to an agent of that Bank, on or after the fifteenth day of September, One thousand nine hundred and thirty-nine.

Amount of tax.

6. The amount of tax so imposed shall be one-half of the amount by which the amount payable by the Commonwealth Bank of Australia in respect of gold so delivered exceeds an amount calculated at the rate of Nine pounds for each ounce of fine gold contained in the gold so delivered.