Wool Tax Act (No. 1) 1964
Act No. 25 of 1964 as amended
[Note: This Act was repealed by Act No. 101 of 2006 on 14 September 2006
For transitional and application provisions see Act No. 101, 2006, Schedule 6 (items 5–11)]
This compilation was prepared on 24 January 2001
taking into account amendments up to Act No. 145 of 2000
The text of any of those amendments not in force
on that date is appended in the Notes section
The operation of amendments that have been incorporated may be
affected by application provisions that are set out in the Notes section
Prepared by the Office of Legislative Drafting and Publishing,
Attorney‑General’s Department, Canberra
Contents
1............ Short title [see Note 1]....................................................................... 1
2............ Commencement [see Note 1].............................................................. 1
3............ Administration Act to be read with this Act...................................... 1
4............ Imposition of tax................................................................................ 1
5............ Rate of tax........................................................................................... 2
6............ Regulations......................................................................................... 2
Notes 5
An Act to impose a Tax upon Shorn Wool produced in Australia and sold by a Wool‑Broker
1 Short title [see Note 1]
This Act may be cited as the Wool Tax Act (No. 1) 1964.
2 Commencement [see Note 1]
This Act shall come into operation on the day on which it receives the Royal Assent.
3 Administration Act to be read with this Act
The Wool Tax (Administration) Act 1964 shall be read as one with this Act.
4 Imposition of tax
(1) Subject to this section, tax is imposed on all shorn wool:
(a) produced in Australia; and
(b) on or after 1 July 1964, sold by a wool‑broker.
(1A) Tax is not imposed by this Act if the sale occurs after the commencement of Schedule 1 to the Wool Services Privatisation Act 2000.
(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by this Act on shorn wool on which a tax has been imposed, whether before or after the commencement of this Act, by a repealed Wool Tax Act.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 sold by a wool‑broker is again sold by a wool‑broker, tax is not imposed by this Act on that wool by reason of the last‑mentioned sale.
(4) If shorn wool on which a tax has been imposed by a Wool Tax Act other than this Act is sold by a wool‑broker, tax is not imposed by this Act on that wool by reason of that sale.
(5) A reference in this section to a sale of shorn wool by a wool‑broker shall be read as a reference to a sale by auction or by any other means.
5 Rate of tax
(1) The rate of tax imposed on shorn wool other than carpet wool sold by a wool‑broker 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 sold by a wool‑broker 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.
6 Regulations
(1) The Governor‑General 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 Governor‑General 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.