Wool Tax (No. 5) Regulations (Cth)

WOOL TAX ACT (No. 5).

 

WOOL TAX (No. 5) REGULATIONS.

 

Statutory Rules 1964, No. 70.(a)

 

Citation.

1. These Regulations may be cited as the Wool Tax (No. 5) Regulations.

Prescribed rate of tax.

2. For the purposes of paragraph (b) of section 5 of the Wool Tax Act (No. 5) 1964, the rate of the tax in respect of the period commencing on the first day of July, 1964, and ending on the thirtieth day of June, 1965, is one and seven-eighths per centum of the sale value of the wool.

(a) Made under the Wool Tax Act (No. 5) 1964 on 10 Jure, 1964; notified in the Commonwealth Gazette on 19 June, 1964.

The form of introductory words used to make the Statutory Rule was as follows:—

“Whereas by sub-section (1.) of section 4 of the Wool Tax Act (No. 5) 1964 it is provided that, subject to that section, a tax is imposed on all shorn wool produced in Australia and, on or after the first day of July, One thousand nine hundred and sixty-four, exported from Australia;

“And whereas by section 5 of that Act it is provided that the rate of the tax is two per centum of the sale value of the wool or, if a lower rate prescribed under section 6 of that Act is applicable, that lower rate:

“And whereas by section 6 of that Act it is provided that—

(a)the Governor-General may make regulations prescribing a rate of tax lower than two per centum of the sale value of the wool;

(b)the regulations may limit the application of a rate of tax prescribed by the regulations to a period specified in the regulations; and

(c) before making regulations under that section prescribing a rate of tax, the Governor-General shall take into consideration any recommendations with respect to that rate made to the Minister by the Australian Wool Industry Conference, being the organization that was formed under that name on the twenty-fourth day of October, One thousand nine hundred and sixty-two:

“Now therefore I, the Governor-General in and over the Commonwealth of Australia, acting with the advice of the Federal Executive Council and after taking into consideration the recommendations with respect to the rate of tax to be prescribed under section 6 of the Wool Tax Act (No. 5) 1964 made to the Minister by the Australian Wool Industry Conference, being the organization that was formed under that name on the twenty-fourth day of October, One thousand nine hundred and sixty-two, hereby make the following Regulations under the Wool Tax Act (No. 5) 1964