Sales Tax Assessment Act (No. 5) 1939 (Cth)

SALES TAX ASSESSMENT (No. 5).

No. 26 of 1939.

An Act to amend the Sales Tax Assessment Act (No. 5) 1930–1936.

[Assented to 21st September, 1939.]

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 and citation.

1.—(1.) This Act may be cited as the Sales Tax Assessment Act (No.5) 1939.

 

(2.) The Sales Tax Assessment Act (No.5) 1930–1936, as amended by this Act, may be cited as the SalesTax Assessment Act (No.5) 1930–1939.

Commencement.

2.This Act shall commence on the First day of October, One thousand nine hundred and thirty-nine.

Sale value of imported goods.

3. Section four of the SalesTax Assessment Act (No.5) 1930–1936 is amended—

(a)by inserting in paragraph (i) of sub-section (1.), after the word “goods”, the words “converted into Australian currency”;

(b)by inserting in the second proviso to sub-section (2.), after the word “goods” (third occurring), the words “converted into Australian currency”; and

(c) by adding at the end thereof the following sub-section:—

“(3.) For the purposes of this section the rate of exchange to be used in converting the value for duty into Australian currency shall be the telegraphic transfer selling rate in Australia, at the date of exportation of the goods from the country of export, as fixed by the Commonwealth Bank of Australia.”.