WHEAT TAX (WAR-TIME) ASSESSMENT.

No. 68 of 1940.

An Act relating to the Assessment and Collection of a Tax upon Wheat.

[Assented to 16th December, 1940.]

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 (War-time) Assessment Act 1940.

Commencement.

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

Definitions.

3.  In this Act, unless the contrary intention appears—

“acquired by the Commonwealth” means acquired by virtue of an order published in the Gazette by the Minister in pursuance of the powers conferred by regulation 14 of the Wheat Acquisition Regulations;

“price” in relation to wheat means such price as the Minister, from time to time, by order published in the Gazette, declares to be the average price free on board at Australian ports, from which wheat is usually exported, of wheat bagged in new cornsacks;

“tax” means the tax imposed upon wheat by the Wheat Tax (War-time) Act 1940;

“the Australian Wheat Board” means the Board constituted under that name by the Wheat Acquisition Regulations;

“the Wheat Acquisition Regulations” means Statutory Rules 1939, No. 96 as amended and in force at the relevant time;

“the Wheat Industry Stabilization Board” means the Board constituted under that name by the National Security (Wheat Industry Stabilization) Regulations (being Statutory Rules 1940, No. 268 as amended and in force at the relevant time).

Tax payable by person from whom acquired.

4.  Tax shall be payable by the person from whom the wheat is acquired by the Commonwealth.

Assessment of tax.

5.  In respect of all wheat acquired by the Commonwealth, the Wheat Industry Stabilization Board shall assess the amount of tax payable by the person from whom the wheat was acquired by the Commonwealth and shall notify the Australian Wheat Board of the tax so assessed.

Collection of tax.

6.—(1.)  The Australian Wheat Board shall deduct from any amount of compensation payable in respect of any wheat acquired by the Commonwealth the tax assessed by the Wheat Industry Stabilization Board in respect of that wheat.

(2.)  All amounts so deducted shall be paid into the Consolidated Revenue Fund.

Regulations.

7.  The Governor-General may make regulations, not inconsistent with this Act, prescribing all matters which are necessary or convenient to be prescribed for carrying out or giving effect to this Act and, in particular, for prescribing penalties, not exceeding Fifty pounds or imprisonment for six months, for any breach of the regulations.

Duration of Act.

8.  This Act shall continue in force until six months after the termination of the present war between His Majesty the King and Germany and no longer.