Wool Tax Act (No. 3) 1964 (Cth)
This compilation was prepared on 24 January 2001
taking into account amendments up to Act No. 145 of 2000
The text of any of those amendments not in force
on that date is appended in the Notes section
The operation of amendments that have been incorporated may be
affected by application provisions that are set out in the Notes section
Prepared by the Office of Legislative Drafting and Publishing,
Attorney‑General’s Department, Canberra
Contents
This Act may be cited as the
Wool Tax Act (No. 3) 1964 .
This Act shall come into operation on the day on which it receives the Royal Assent.
The
Wool Tax (Administration) Act 1964 shall be read as one with this Act.
(1) Subject to this section, tax is imposed on all shorn wool:
(a) produced in Australia; and
(b) on or after 1 July 1964, purchased by a manufacturer from a person other than a wool‑broker or a wool‑dealer.
(1A) Tax is not imposed by this Act if the purchase occurs after the commencement of Schedule 1 to the
Wool Services Privatisation Act 2000 .(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by this Act on shorn wool on which a tax has been imposed, whether before or after the commencement of this Act, by a repealed Wool Tax Act.
(3) If shorn wool that has, on or after 1 July 1964, been purchased by a manufacturer is again purchased by a manufacturer, tax is not imposed by this Act on that wool by reason of the last‑mentioned purchase.
(4) If shorn wool on which a tax has been imposed by a Wool Tax Act other than this Act is purchased by a manufacturer, tax is not imposed by this Act on that wool by reason of that purchase.
(1) The rate of tax imposed on shorn wool other than carpet wool purchased by a manufacturer from a person other than a wool‑broker or a wool‑dealer is:
(a) 15% of the sale value of the wool; or
(b) if a lower rate is applicable to the wool under the regulations—that lower rate.
(2) The rate of tax imposed on carpet wool purchased by a manufacturer from a person other than a wool‑broker or a wool‑dealer is:
(a) 6% of the sale value of the wool; or
(b) if a lower rate is applicable to the wool under the regulations—that lower rate.
(1) The Governor‑General may make regulations, not inconsistent with this Act, prescribing matters:
(a) required or permitted by this Act to be prescribed; or
(b) necessary or convenient to be prescribed for carrying out or giving effect to this Act.
(2) A rate prescribed for the purpose of paragraph 5(1)(b) or 5(2)(b) must be a rate that is a particular percentage of the sale value of the wool on which tax is payable.
(4) A percentage specified in a rate of tax prescribed for the purpose of paragraph 5(1)(b) or 5(2)(b):
(b) may be nil; but
(c) must not be such that, at any time, the percentage is different from a percentage specified in a rate of tax prescribed for the purpose of the corresponding paragraph of another Wool Tax Act in respect of the same kind of wool.
(5) Before making regulations under this section prescribing a rate of tax that is to apply in relation to a financial year commencing on or after 1 July 1994, the Governor‑General is required to take into consideration:
(a) in the case of regulations to prescribe a rate for the purposes of paragraph 5(1)(b):
(i) the percentage fixed by subsection 43(2) of the
Wool International Act 1993 ; and(ii) the recommendations that are the current recommendations applying to the financial year for the purposes of sections 49 and 50 of the
Australian Wool Research and Promotion Organisation Act 1993 ; or(b) in the case of regulations to prescribe a rate for the purposes of paragraph 5(2)(b), the recommendations that are the current recommendations applying to the financial year for the purposes of sections 49 and 50 of the
Australian Wool Research and Promotion Organisation Act 1993 .
The
All
relevant information pertaining to application, saving or transitional
provisions prior to 3 May
2000 is not included in this compilation. For subsequent
information
Act | Number and year | Date of Assent | Date of commencement | Application, saving or transitional provisions | |
27, 1964 | 26 May 1964 | 26 May 1964 | |||
66, 1973 | 18 June 1973 | 18 June 1973 | — | ||
68, 1974 | 1 Oct 1974 | 2 Sept 1974 | S. 5 | ||
88, 1975 | 25 June 1975 | 25 June 1975 | — | ||
74, 1976 | 10 June 1976 | 10 June 1976 | — | ||
46, 1977 | 7 June 1977 | 7 June 1977 | — | ||
74, 1978 | 22 June 1978 | 22 June 1978 | — | ||
34, 1979 | 7 June 1979 | 7 June 1979 | — | ||
53, 1980 | 23 May 1980 | 1 July 1980 | — | ||
87, 1985 | 6 June 1985 | 1 July 1985 | — | ||
48, 1987 | 5 June 1987 | 1 July 1987 | — | ||
65, 1990 | 16 June 1990 | 16 June 1990 | S. 4 | ||
93, 1990 | 29 Nov 1990 | 4 Oct 1990 | S. 7 (rep. by 104, 1991, s. 8) | ||
| |||||
| 104, 1991 | 27 June 1991 | 1 July 1991 | — | |
104, 1991 | 27 June 1991 | 1 July 1991 | — | ||
55, 1992 | 22 June 1992 | 1 July 1992 | — | ||
68, 1993 | 12 Nov 1993 | 1
Dec 1993 ( | — | ||
129, 1994 | 21 Oct 1994 | S. 3: Royal Assent | — | ||
47, 2000 | 3 May 2000 | 3 May 2000 | Sch. 1 (item 12(2)) [ | ||
145, 2000 | 7 Dec 2000 | Schedule 1: 1 Jan 2001 ( Remainder: Royal Assent | — | ||
(a) TheWool Tax Act (No. 3) 1964 was amended by section 3 only of thePrimary Industries and Energy Legislation Amendment Act (No. 2) 1994 , subsection 2(1) of which provides as follows:
(1) Subject to this section, this Act commences on the day on which it receives the Royal Assent.
| |
Provision affected | How affected |
Title........................................ | am. No. 129, 1994 |
S. 4......................................... |
|
S. 5......................................... |
|
rs. No. 53, 1980; No. 87, 1985 | |
| |
S. 5A...................................... | ad. No. 93, 1990 |
rep. No. 104, 1991 | |
S. 6......................................... |
|
rs. No. 93, 1990 | |
am. No. 104, 1991; No. 68, 1993; No. 47, 2000 | |
Australian Wool Research and Promotion Organisation Amendment (Funding and Wool Tax) Act 2000 (No. 47, 2000)
(2) The amendments made by items 7 to 11 apply in determining the rate of wool tax in relation to financial years beginning on or after 1 July 2000.
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