Excise Tariff (No. 2) 1960

Overview

The Excise Tariff (No. 2) 1960 was enacted to address the need for updated duties on excisable goods, amending the existing Excise Tariff 1921-1959. This Act was assented to by the Queen’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia on 19th November 1960. The purpose of this legislation was to align the excise duties with the evolving economic landscape and ensure that the tax framework was effective in managing the production and distribution of excisable goods within Australia. By amending the existing tariff schedule and imposing new excise duties, the Act aimed to provide a clear and updated framework for the collection of excise duties on goods manufactured or produced in the country.

Scope and Application

The Excise Tariff (No. 2) 1960 applies to duties of excise on goods manufactured or produced in Australia after the specified time of imposition, which is 5 o'clock in the forenoon on 17 August 1960, according to standard time in the Australian Capital Territory. Additionally, the amendment applies to goods manufactured or produced in Australia prior to this date that were under the control of Customs, subject to excise supervision, in the stock, custody, or possession of a manufacturer, and for which no excise duty had been paid. This Act extends its application nationally across the Commonwealth of Australia, impacting various industries involved in the production and manufacturing of goods. Notably, the Act does not specify any exclusions, exemptions, or thresholds, and its provisions are further defined and potentially extended or restricted through subordinate instruments such as regulations or orders made under the authority of the Act.

Key Provisions

The Excise Tariff (No. 2) 1960 Act primarily focuses on amending the existing excise duties by imposing new duties and altering existing ones through the Excise Tariff 1921-1960 (section 1). The Act removes certain items from the previous tariff, specifically item 19, and replaces them with new duties outlined in the amended schedule (section 2). The imposition of these new excise duties is set to take effect on the seventeenth day of August, 1960, at five o'clock in the morning, as per the Australian Capital Territory's standard time (section 3). This Act applies to goods manufactured or produced in Australia post the specified date and also to goods manufactured prior to that date but not yet subjected to excise duty, which are under customs control, excise supervision, or in the possession of a manufacturer (section 4). Entities and individuals governed by this Act are required to adhere to the new excise duties as outlined in the amended schedule. Manufacturers and producers must ensure that all goods produced after the effective date are subject to the new tariff, while existing goods must be assessed to determine if any outstanding duties are owed. The Act imposes obligations on these parties to accurately report and pay the applicable excise duties, as well as to maintain records that can be audited by the relevant authorities. Compliance with these obligations is critical to avoid any legal repercussions and to ensure smooth operation within the regulatory framework established by the Excise Tariff (No. 2) 1960 Act. Failure to comply with the provisions of this Act can lead to significant consequences. Breaches of the Act may result in the imposition of civil penalties, which can include fines up to a specified amount, depending on the severity and intent of the breach. Additionally, criminal penalties may be applicable, which could result in imprisonment for individuals found guilty of non-compliance. The specific maximum penalties are not detailed within the provided excerpt of the Act, but they are typically outlined in the relevant sections of the Act or in associated regulations and guidelines. It is important for all governed parties to understand and adhere to the new duties to avoid facing these potential legal consequences.