Sales Tax Act (No. 5) 1970 (Cth)

Sales Tax (No. 5)

No. 73 of 1970

An Act to amend the Sales Tax Act (No. 5) 1930-1968.

[Assented to 21 October 1970]

BE it enacted by the Queen’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—

Short title and citation.

1.—(1.) This Act may be cited as the Sales Tax Act (No. 5) 1970.

(2.) The Sales Tax Act (No. 5) 1930-1968, as amended by this Act, may be cited as the Sales Tax Act (No. 5) 1930-1970.

Commencement.

2. This Act shall be deemed to have come into operation on the nineteenth day of August, One thousand nine hundred and seventy.

3. Sections 3 and 4 of the Sales Tax Act (No. 5) 1930-1968 are repealed and the following sections inserted in their stead:—

Imposition of tax.

“3. Sales tax is imposed, at the rates specified in the next succeeding section, upon the sale value of goods imported into Australia on or after the nineteenth day of August, One thousand nine hundred and seventy, by a taxpayer.

 

Rates of tax.

“4. The rates of the sales tax imposed by this Act are—

(a) in respect of goods covered by the Second or Fifth Schedule to the Sales Tax (Exemptions and Classifications) Act 1935-1967—27½ per centum;

(b) in respect of goods covered by the Third Schedule to the Sales Tax (Exemptions and Classifications) Act 1935-1967—2½per centum; and

(c) in respect of goods not covered by the Second, Third or Fifth Schedule to the Sales Tax (Exemptions and Classifications) Act 1935-1967 and on the sale value of which it is not provided by that Act that the sales tax imposed by this Act shall not be payable —15 per centum.”.

Saving.

4.