Federal Register of Legislation - Australian Government

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Wool Tax Act (No. 1) 1964

Act No. 25 of 1964 as amended, taking into account amendments up to Act No. 51 of 1980
Registered 08 Dec 2009
Start Date 01 Jul 1980
End Date 30 Jun 1985
Date of repeal 14 Sep 2006
Repealed by Tax Laws Amendment (Repeal of Inoperative Provisions) Act 2006

WOOL TAX ACT (No. 1) 1964
- Reprinted as at 31 July 1981 (HISTACT CHAP 361 #DATE 31:07:1981)

*1* The Wool Tax Act (No. 1) 1964 (a) as shown in this reprint comprises Act No. 25, 1964 as amended by the other Acts specified in the following table:
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Application,
saving
Number Date Date of or
transitional
Act and year of Assent commencement provisions
---------------------------------------------------------------------------- Wool Tax Act (No.
1) 1964 25, 1964 26 May 1964 26 May 1964
Wool Tax Act (No.
1) 1973 64, 1973 18 June 1973 18 June 1973 -
Wool Tax Act (No.
1) 1974 66, 1974 1 Oct 1974 2 Sept 1974 S. 5
Wool Tax Act (No.
1) 1975 86, 1975 25 June 1975 25 June 1975 -
Wool Tax Amendment
Act (No. 1) 1976 72, 1976 10 June 1976 10 June 1976 -
Wool Tax Amendment
Act (No. 1) 1977 44, 1977 7 June 1977 7 June 1977 -
Wool Tax Amendment
Act (No. 1) 1978 72, 1978 22 June 1978 22 June 1978 -
Wool Tax Amendment
Act (No. 1) 1979 32, 1979 7 June 1979 7 June 1979 -
Wool Tax (No. 1)
Amendment Act 1980 51, 1980 23 May 1980 1 July 1980 -
---------------------------------------------------------------------------- (a) This citation is provided for by the Amendments Incorporation Act 1905
and the Acts Citation Act 1976.

WOOL TAX ACT (No. 1) 1964 - TABLE OF PROVISIONS

TABLE

TABLE OF PROVISIONS


Section

1. Short title

2. Commencement

3. Administration Act to be read with this Act

4. Imposition of tax

5. Rates of tax

6. Regulations


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WOOL TAX ACT (No. 1) 1964 - LONG TITLE

SECT

An Act to impose a Tax upon Shorn Wool produced in Australia and sold by Wool-Broker

WOOL TAX ACT (No. 1) 1964 - SECT. 1.
Short title

SECT

1. This Act may be cited as the Wool Tax Act (No. 1) 1964.*1*


See notes to first article of this CHAPTER.

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.*1*


See notes to first article of this CHAPTER.

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

Sub-section (1) amended by No. 64, 1973, s. 4; No. 32, 1979, s. 4

SECT

4. (1) Subject to this section, a tax is imposed on all shorn wool-

(a) produced in Australia; and

(b) on or after 1 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; No. 32, 1979, s. 4

SECT

(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.


WOOL TAX ACT (No. 1) 1964 - SECT. 5.
Rates of tax

Substituted by No. 51, 1980, s. 3

SECT

5. (1) The tax imposed on shorn wool sold by a wool-broker is the sum of-

(a) an amount of tax equal to such percentage of the sale value of the wool as is prescribed for the purposes of this paragraph;

(b) an amount of tax equal to such percentage of the sale value of the wool as is prescribed for the purposes of this paragraph; and

(c) an amount of tax equal to 5% of the sale value of the wool.


(2) The sum of the percentages that are prescribed from time to time for the purposes of paragraphs (1) (a) and (b) shall not exceed 3%.


WOOL TAX ACT (No. 1) 1964 - SECT. 6.
Regulations

Sub-section (1) substituted by No. 51, 1980, s. 4

SECT

6. (1) The Governor-General may make regulations prescribing percentages for the purposes of paragraphs 5 (1) (a) and (b).


Sub-section (2) omitted by No. 51, 1980, s. 4
* * * * * * * *
Amended by No. 64, 1973, s. 4; No. 32, 1979, s. 4; No. 51, 1980, s. 4

SECT

(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 Wool Council of Australia, being the organization that was formed under that name on 19 July 1979.


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