WOOL TAX ACT (No. 1) 1964
- Reprinted as at 18 June 1973 (HISTACT2 CHAP 546 #DATE 18:06:1973)
WOOL TAX ACT (No. 1) 1964 - TABLE OF PROVISIONS
TABLE
WOOL TAX ACT (No. 1) 1964
TABLE OF PROVISIONS
Section
1. Short title
2. Commencement
3. Administration Act to be read with this Act
4. Imposition of tax
5. Rate of tax
6. Regulations
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WOOL TAX ACT (No. 1) 1964 - SECT. 1.
Short title.
SECT
Wool-Broker.
Short title amended; No. 32, 1918, s. 2.
1. This Act may be cited as the Wool Tax Act (No. 1) 1964.*
WOOL TAX ACT (No. 1) 1964 - SECT. 2.
Commencement
SECT
2. This Act shall come into operation on the day on which it receives the
Royal Assent.*
WOOL TAX ACT (No. 1) 1964 - SECT. 3.
Administration Act to be read with this Act.
SECT
3. The Wool Tax (Administration) Act 1964 shall be read as one with this
Act.
WOOL TAX ACT (No. 1) 1964 - SECT. 4.
Imposition of tax.
SECT
Sub-section (1) amended by No. 64, 1973, s. 4.
4. (1) Subject to this section, a tax is imposed on all shorn wool-
(a) produced in Australia; and
(b) on or after 1st July, 1964, sold by a wool-broker.
(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imposed, whether before or after the commencement of this Act, by a repealed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.
Amended by No. 64, 1973, s. 4.
(3) If shorn wool that has, on or after 1st 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.
WOOL TAX ACT (No. 1) 1964 - SECT. 5.
Rate of tax.
SECT
Amended by No. 64, 1973, s. 3.
5. The rate of the tax is-
(a) three per centum of the sale value of the wool; or
(b) if a lower rate prescribed under the next succeeding section is
applicable-that lower rate.
WOOL TAX ACT (No. 1) 1964 - SECT. 6.
Regulations.
SECT
6. (1) The Governor-General may make regulations prescribing a rate of tax
lower than the rate specified in paragraph (a) of the last preceding section.
(2) The regulations may limit the application of a rate of tax prescribed
by the regulations to a period specified in the regulations.
Amended by No. 64, 1973, s. 4.
(3) Before making regulations under this section prescribing a rate of tax,
the Governor-General shall take into consideration any recommendations with
respect to that rate made to the Minister by the Australian Wool Industry
Conference, being the organization that was formed under that name on 24th
October, 1962.
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WOOL TAX ACT (No. 1) 1964 - NOTE
NOTE
1. The Wool Tax Act (No. 1) 1964 comprises the Wool Tax Act (No. 1) 1964
as amended by the other Act specified in the following table:
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Number Date of Assent
Act and year and of commencement
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Wool Tax Act (No. 1) 1964 No. 25, 1964 26 May 1964
Wool Tax Act (No. 1) 1973 No. 64, 1973 18 June 1973
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