Wool Tax (No. 2) Regulations (Amendment) (Cth)

Statutory Rules 1996 No. 1371

 

Wool Tax (No. 2) Regulations2 (Amendment)

I, THE GOVERNOR-GENERAL of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, and having taken into consideration:

(a) in the case of prescribing a rate for the purposes of paragraph 5 (1) (b) of the Wool Tax Act (No. 2) 1964:

(i) the percentage fixed by subsection 43 (2) of the Wool International Act 1993; and

(ii) the current recommendations applying to the 1996-97 financial year for the purposes of sections 49 and 50 of the Australian Wool Research and Promotion Organisation Act 1993; and

(b) in the case of prescribing a rate for the purposes of paragraph 5 (2) (b) of the Wool Tax Act (No. 2) 1964 —the current recommendations applying to the 1996-97 financial year for the purposes of sections 49 and 50 of the Australian Wool Research and Promotion Organisation Act 1993;

make the following Regulations under the Wool Tax Act (No. 2)1964.

Dated 28 June 1996.

William Deane

Governor-General

By His Excellency’s Command,

Jim Short

Assistant Treasurer

 

1. Commencement

1.1 These Regulations are taken to have commenced on 1 July 1996.

2. Amendment

2.1 The Wool Tax (No. 2) Regulations are amended as set out in these Regulations.

3. Regulation 3 (Rate of Tax)

3.1 Subregulation 3 (1):

Omit “l July 1995”, substitute “1 July 1996”.

3.2 Subregulation 3 (1):

Omit “8.5%”, substitute “4%”.

3.3 Subregulation 3 (2):

Omit “1 July 1995”, substitute “1 July 1996”.

 

NOTES

1. Notified in the Commonwealth of Australia Gazette on 1 July 1996.

2. Statutory Rules 1987 No. 144 as amended by 1990 No. 194; 1991 No. 210; 1992 No. 207; 1993 No. 171; 1994 No. 227; 1995 No. 196.