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

Statutory Rules 1993

No. 171 1

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Wool Tax (No. 2) Regulations 2(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)

  the recommendations in relation to the prescription of a rate for the purposes of paragraph 5 (1) (b) of the Wool Tax Act (No. 2) 1964 made by:

  • (i)

    the Australian Wool Realisation Commission; and

  • (ii)

    the annual general meeting of wool-tax payers last held under Part 6 of the Australian Wool Corporation Act 1991; and

  • (iii)

    the annual general meeting last held by the Wool Research and Development Corporation under Division 7 of Part 2 of the Primary Industries and Energy Research and Development Act 1989; and

• (b)

  the views in relation to that rate expressed by the Wool Council of Australia to the Australian Wool Realisation Commission; and

• (c)

  the recommendations in relation to the prescription of a rate for the purposes of paragraph 5 (2) (b) of the Wool Tax Act (No. 2) 1964  made by:

  • (i)

    the annual general meeting of wool-tax payers last held under Part 6 of the Australian Wool Corporation Act 1991; and

  • (ii)

    the annual general meeting last held by the Wool Research and Development Corporation under Division 7 of Part 2 of the Primary Industries and Energy Research and Development Act 1989;

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

Dated 28 June 1993.

 BILL HAYDEN

 Governor-General

By His Excellency’s Command,

GEORGE GEAR

Assistant Treasurer

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1.   Commencement

1.1   These Regulations commence on 1 July 1993.

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 “1 July 1992”, substitute “1 July 1993”.

3.2   Subregulation 3 (1):

Omit “12%”, substitute “8.5%”.

3.3   Subregulation 3 (2):

Omit “1 July 1992”, substitute “1 July 1993”.

NOTES

1. Notified in the Commonwealth of Australia Gazette on 30 June 1993.

2. Statutory Rules 1987 No. 144 as amended by 1990 No. 194; 1991 No. 210; 1992 No. 207.