WHEAT TAX (WAR-TIME).

No. 69 of 1940.

An Act to impose 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) Act 1940.

Commencement.

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

Incorporation.

3.  The Wheat Tax (War-time) Assessment Act 1940 shall be incorporated and read as one with this Act.

Imposition of tax.

4.  A tax is imposed upon all wheat harvested in Australia on or after the first day of October, One thousand nine hundred and forty-one which is acquired by the Commonwealth.

Rate of tax.

5.  The rate of tax per bushel of wheat shall be fifty per centum of the amount by which the price per bushel of wheat exceeds Three shillings and tenpence.

Duration of Act.

6.  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.