Wool Tax (No. 3) Regulations (Amendment) (Cth)

Statutory Rules 1996

No. 138 1

__________________

Wool Tax (No. 3) 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)

  in the case of prescribing a rate for the purposes of paragraph 5 (1) (b) of the Wool Tax Act (No. 3) 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. 3) 1964 —the current recommendations applying to the 1996-97 financial year for the purposes of sections 49 and 50 of the AustralianWool Research and Promotion Organisation Act 1993;

make the following Regulations under the Wool Tax Act (No. 3) 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. 3) Regulations are amended as set out in these Regulations.

3.   Regulation 3 (Rate of Tax)

3.1   Subregulation 3 (1):

Omit “1 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. 145 as amended by 1990 No. 195; 1991 No. 211; 1992 No. 208; 1993 No. 172; 1994 No. 228; 1995 No. 197.