Wool Tax Act (No. 1) 1961 (Cth)

WOOL TAX (No. 1).

No. 41 of 1961.

An Act to amend the Wool Tax Act (No. 1) 1957-1960.

[Assented to 23rd August, 1961.]

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 Wool Tax Act (No. 1) 1961.

(2.) The Wool Tax Act (No. 1) 1957-1960 is in this Act referred to as the Principal Act.

(3.) The Principal Act, as amended by this Act, may be cited as the Wool Tax Act (No. 1) 1957-1961.

Commencement.

2. This Act shall come into operation on the day on which it receives the Royal Assent.

3. After section six of the Principal Act the following section is inserted:—

Rates of tax for a certain period.

“ 6a. Notwithstanding the next succeeding section and any regulations made under that section, the rates set out in the Third Schedule to this Act shall be deemed to have been and to be the rates prescribed for the purposes of paragraph (a) of sub-section (1.) of the last preceding section in relation to—

(a)wool received by a wool-broker (not being wool previously received by a wool-broker or dealer) before the twenty-eighth day of August, One thousand nine hundred and sixty-one, and not sold by him before that date;

(b)wool received by a wool-broker (not being wool previously received by a wool-broker or dealer) on or after the twenty-eighth day of August, One thousand nine hundred and sixty-one, and before the first day of July, One thousand nine hundred and sixty-two, other than wool that—

(i) is received after the thirty-first day of March, One thousand nine hundred and sixty-two; and

(ii) is not sold by the wool-broker before the first day of July, One thousand nine hundred and sixty-two; and

(c) wool received by a dealer (not being wool previously received by a wool-broker or dealer) on or after the twenty-eighth day of August, One thousand nine hundred and sixty-one, and before the first day of July, One thousand nine hundred and sixty-two.

Regulations.

4.Section seven of the Principal Act is amended by omitting the words “the last preceding section” (wherever occurring) and inserting in their stead the words “section six of this Act”.

Third Schedule

5. The Principal Act is amended by adding at the end there of the following Schedule:—

THIRD SCHEDULE. Section 6a.

——

Rates of Tax Referred to in Section 6a of this Act.

s.	d.
For each bale of wool................................................................	10	0
For each fadge or butt of wool...................................................	5	0
For each bag of wool.................................................................	1	3