Wool Tax Act (No. 5) 1964

Act No. 29 of 1964 as amended

This compilation was prepared on 18 May 2000
taking into account amendments up to Act No. 47 of 2000

The text of any of those amendments not in force
on that date is appended in the Notes section

Prepared by the Office of Legislative Drafting,
AttorneyGeneral’s Department, Canberra

 

 

 

Contents

1 Short title [see Note 1]...........................

2 Commencement [see Note 1].......................

3 Administration Act to be read with this Act...............

4 Imposition of tax...............................

5 Rate of tax..................................

6 Regulations..................................

Notes 

An Act to impose a Tax upon Shorn Wool produced in, and exported from, Australia

  This Act may be cited as the Wool Tax Act (No. 5) 1964.

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

  The Wool Tax (Administration) Act 1964 shall be read as one with this Act.

 (1) Subject to this section, tax is imposed on all shorn wool:

 (a) produced in Australia; and

 (b) on or after 1 July 1964, exported from Australia.

 (2) Tax is not imposed by this Act on shorn wool on which a tax has been imposed, whether before or after the commencement of this Act, by a repealed Wool Tax Act.

 (3) If shorn wool that has, on or after 1 July 1964, been exported from Australia is again exported from Australia, tax is not imposed by this Act on that wool by reason of the lastmentioned exportation.

 (4) Subject to subsection (4A), if shorn wool on which a tax has been imposed by a Wool Tax Act other than this Act is exported from Australia, tax is not imposed by this Act on that wool by reason of that exportation.

 (4A) Subsection (4) does not apply to shorn wool if:

 (a) the tax imposed on the wool by another Wool Tax Act was imposed at a rate applicable to carpet wool; and

 (b) when the tax was imposed on the wool by that other Wool Tax Act, the wool was carpet wool because of the operation of paragraph (b) or (c) of the definition of carpet wool in subsection 4 (1) of the Wool Tax (Administration) Act 1964; and

 (c) the wool is exported from Australia.

 (1) The rate of tax imposed on shorn wool other than carpet wool exported from Australia is:

 (a) 15% of the sale value of the wool; or

 (b) if a lower rate is applicable to the wool under the regulations—that lower rate.

 (2) The rate of tax imposed on carpet wool exported from Australia is:

 (a) 6% of the sale value of the wool; or

 (b) if a lower rate is applicable to the wool under the regulations—that lower rate.

 (1) The GovernorGeneral may make regulations, not inconsistent with this Act, prescribing matters:

 (a) required or permitted by this Act to be prescribed; or

 (b) necessary or convenient to be prescribed for carrying out or giving effect to this Act.

 (2) A rate prescribed for the purpose of paragraph 5(1)(b) or 5(2)(b) must be a rate that is a particular percentage of the sale value of the wool on which tax is payable.

 (4) A percentage specified in a rate of tax prescribed for the purpose of paragraph 5(1)(b) or 5(2)(b):

 (b) may be nil; but

 (c) must not be such that, at any time, the percentage is different from a percentage specified in a rate of tax prescribed for the purpose of the corresponding paragraph of another Wool Tax Act in respect of the same kind of wool.

 (5) Before making regulations under this section prescribing a rate of tax that is to apply in relation to a financial year commencing on or after 1 July 1994, the GovernorGeneral is required to take into consideration:

 (a) in the case of regulations to prescribe a rate for the purposes of paragraph 5(1)(b):

 (i) the percentage fixed by subsection 43(2) of the Wool International Act 1993; and

 (ii) the recommendations that are the current recommendations applying to the financial year for the purposes of sections 49 and 50 of the Australian Wool Research and Promotion Organisation Act 1993; or

 (b) in the case of regulations to prescribe a rate for the purposes of paragraph 5(2)(b), the recommendations that are the current recommendations applying to the financial year for the purposes of sections 49 and 50 of the Australian Wool Research and Promotion Organisation Act 1993.

Notes to the Wool Tax Act (No. 5) 1964

Note 1

The Wool Tax Act (No. 5) 1964 as shown in this compilation comprises Act No. 29, 1964 amended as indicated in the Tables below.

For all relevant information pertaining to application, saving or transitional provisions see Table A.

Table of Acts

Act

Number
and year

Date
of Assent

Date of commencement

Application, saving or transitional provisions

Wool Tax Act (No. 5) 1964

29, 1964

26 May 1964

26 May 1964

 

Wool Tax Act (No. 5) 1973

68, 1973

18 June 1973

18 June 1973

Wool Tax Act (No. 5) 1974

70, 1974

1 Oct 1974

2 Sept 1974

S. 5

Wool Tax Act (No. 5) 1975

90, 1975

25 June 1975

25 June 1975

Wool Tax Amendment Act (No. 5) 1976

76, 1976

10 June 1976

10 June 1976

Wool Tax Amendment Act (No. 5) 1977

48, 1977

7 June 1977

7 June 1977

Wool Tax Amendment Act (No. 5) 1978

76, 1978

22 June 1978

22 June 1978

 Wool Tax Amendment Act (No. 5) 1979

36, 1979

7 June 1979

7 June 1979

Wool Tax (No. 5) Amendment Act 1980

55, 1980

23 May 1980

1 July 1980

Wool Tax (No. 5) Amendment Act 1985

89, 1985

6 June 1985

1 July 1985

Wool Tax (No. 5) Amendment Act 1987

50, 1987

5 June 1987

1 July 1987

Wool Tax (No. 5) Amendment Act 1990

67, 1990

16 June 1990

16 June 1990

S. 4

Wool Tax (No. 5) Further Amendment Act 1990

95, 1990

29 Nov 1990

4 Oct 1990

S. 7 (rep. by 106, 1991, s. 8)

as amended by

 

 

 

 

Wool Tax (No. 5) Amendment Act 1991

106, 1991

27 June 1991

1 July 1991

Wool Tax (No. 5) Amendment Act 1991

106, 1991

27 June 1991

1 July 1991

Wool Tax (No. 5) Amendment Act 1992

57, 1992

22 June 1992

1 July 1992

Wool Tax (No. 5) Amendment Act 1993

70, 1993

12 Nov 1993

1 Dec 1993 (see s. 2 and Gazette 1993, No. GN46)

Australian Wool Research and Promotion Organisation Amendment (Funding and Wool Tax) Act 2000

47, 2000

3 May 2000

3 May 2000

Sch. 1 (item 12(2))

Table of Amendments

ad. = added or inserted      am. = amended      rep. = repealed      rs. = repealed and substituted

Provision affected

How affected

S. 4....................

am. No. 68, 1973; No. 36, 1979; No. 95, 1990

S. 5....................

am. No. 68, 1973; No. 70, 1974; No. 90, 1975; No. 76, 1976; No. 48, 1977; No. 76, 1978; No. 36, 1979

 

rs. No. 55, 1980; No. 89, 1985

 

am. No. 50, 1987; No. 67, 1990; No. 95, 1990; No. 106, 1991; No. 57, 1992

S. 5A...................

ad. No. 95, 1990

 

rep. No. 106, 1991

S. 6....................

am. No. 68, 1973; No. 70, 1974; No. 36, 1979; No. 55, 1980; No. 89, 1985; No. 50, 1987

 

rs. No. 95, 1990

 

am. No. 106, 1991; No. 70, 1993; No. 47, 2000

Table A

Application, saving or transitional provisions

Australian Wool Research and Promotion Organisation Amendment (Funding and Wool Tax) Act 2000 (No. 47, 2000)

Schedule 1

12  Application of amendments

(2) The amendments made by items 7 to 11 apply in determining the rate of wool tax in relation to financial years beginning on or after 1 July 2000.