Wool Industry (Apportionment of Wool Tax) Regulations (Amendment) (Cth)

Statutory Rules 1986 No. 1601

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Wool Industry (Apportionment of Wool Tax) Regulations2 (Amendment)

I, THE GOVERNOR-GENERAL of the Commonwealth of Australia, acting with the advice of the Federal Executive Council and pursuant to section 4 of the Acts Interpretation Act 1901, and after taking into consideration the recommendations made to the Minister of State for Primary Industry by the Wool Council of Australia with respect to the percentages to be prescribed for the purposes of paragraph 53 (1) (a), sub-section 83 (1) and sub-section 84a (1) of the Wool Industry Act 1972, hereby make the following Regulations under the Wool Industry Act 1972.

Dated 27 June 1986.

N. M. STEPHEN

Governor-General

By His Excellency’s Command,

JOHN BROWN

Minister of State for Sport, Recreation and Tourism for and on behalf of the

Minister of State for Primary Industry

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Commencement

1. These Regulations shall come into operation on 1 July 1986.

Prescribed percentages

2. (1) Regulation 3 of the Wool Industry (Apportionment of Wool Tax) Regulations is amended by omitting sub-regulation (1) and substituting the following sub-regulation:

“(1) For the purposes of paragraph 53 (1) (a) of the Act—

(a) the prescribed percentage of the sale value of shorn wool on which tax was imposed by a Wool Tax Act during the year commencing on 1 July 1985 is 0.5%; and

(b) the prescribed percentage of the sale value of shorn wool on which tax is so imposed on or after 1 July 1986 is 0.5%.”.

(2) Regulation 3 of the Wool Industry (Apportionment of Wool Tax) Regulations is amended by omitting sub-regulations (2) and (3) and substituting the following sub-regulations:

“(2) For the purposes of sub-section 83 (1) of the Act—

(a) the prescribed percentage of the sale value of shorn wool on which tax was imposed by a Wool Tax Act during the year commencing on 1 July 1985 is 2.5%; and

(b) the prescribed percentage of the sale value of shorn wool on which tax is so imposed on or after 1 July 1986 is 3.5%.

“(3) For the purposes of sub-section 84A (1) of the Act—

(a) the prescribed percentage of the sale value of shorn wool on which tax was imposed by a Wool Tax Act during the year commencing on 1 July 1985 is 5%; and

(b) the prescribed percentage of the sale value of shorn wool on which tax is so imposed on or after 1 July 1986 is 4%.”.

NOTES

1. Notified in the Commonwealth of Australia Gazette on 30 June 1986.

2. Statutory Rules 1985 No. 146.