STATUTORY RULES.
1935. No. 8.
––––––––
REGULATION UNDER THE FINANCIAL EMERGENCY ACT 1931-1934.*
I, THE GOVERNOR-GENERAL in and over the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulation under the Financial Emergency Act 1931-1934.
Dated this Sixth day of January, 1935
(Sgd.) ISAAC A. ISAACS.
Governor-General.
By His Excellency’s Command,
for Treasurer.
–––––––
Amendment of the Financial Emergency (State Taxation) Regulations.†
Certain tax deemed to be a tax for unemployment relief.
Regulation 5 of the Financial Emergency (State Taxation) Regulations is amended by omitting sub-regulation (3.) and inserting in its stead the following sub-regulation:—
“(3.) For the purposes of section nineteen of the Financial Emergency Act 1931-1934 the tax imposed under section seven of the Special Income and Wages Tax (Management) Act, 1933-1934, Part III. of the Special Income and Wages Tax Act, 1934, and Part V. of the Taxation Reduction Act, 1933 of the State of New South Wales, shall be deemed to be a tax to meet expenditure incurred by that State for the purpose of unemployment relief.”
* Notified in the Commonwealth Gazette on , 1935.
†Statutory Rules 1931, Nos. 138 and 154, as amended by Statutory Rules 1933, Nos. 34 and 142; and by 1934, No. 17.
–––––––––––––––––
By Authority: L. F. Johnston, Commonwealth Government Printer, Canberra.
111.—6/16.1.1935.—Price 3d.
Overview
The Financial Emergency Act 1931-1934 was enacted by the Parliament of Australia to address the severe economic difficulties experienced during the Great Depression. This Act provided the federal government with emergency powers to manage the financial crisis by imposing restrictions on state governments' fiscal policies and regulating interstate commerce. The legislative instrument, Statutory Rules 1935 No. 8, issued under the authority of the Act, further illustrates the federal government's intention to coordinate and standardise fiscal responses to the economic emergency across different states. The policy objective, as evidenced in the amendment of the Financial Emergency (State Taxation) Regulations, was to ensure that specific taxes imposed by the state of New South Wales would be deemed to meet expenditure incurred for the purpose of unemployment relief. This regulation, made by the Governor-General in Council, demonstrates the federal government's efforts to align state tax policies with national economic recovery strategies during this period of financial distress.
Scope and Application
The Financial Emergency (State Taxation) Regulations 1935, made under the Financial Emergency Act 1931-1934, applies to specific taxes imposed by the State of New South Wales, namely the tax under the Special Income and Wages Tax (Management) Act 1933-1934 and the Taxation Reduction Act 1933. This regulation amends the existing Financial Emergency (State Taxation) Regulations to deem certain taxes as those intended to meet expenditure for unemployment relief, thereby altering their classification and potentially their application and impact within the framework of federal financial emergency measures. The geographic reach of this regulation is confined to the state of New South Wales, although the overarching act from which it derives authority is a Commonwealth instrument. There are no stated exclusions or exemptions in the regulation itself, though the scope of the underlying act and any relevant state laws would dictate the applicability and limitations of these provisions. The Financial Emergency Act 1931-1934 may extend or restrict the application of these regulations through subordinate instruments, allowing for adjustments and adaptations in response to changing circumstances or policy objectives.
Key Provisions
The primary operative section of this legislation is the amendment to Regulation 5 of the Financial Emergency (State Taxation) Regulations (sub-regulation (3)). This amendment deems certain taxes imposed under specific sections of the Special Income and Wages Tax (Management) Act 1933-1934, the Special Income and Wages Tax Act 1934, and the Taxation Reduction Act 1933 of New South Wales as a tax for unemployment relief purposes. This means that any tax collected under these acts is now recognised as a measure to address unemployment in the state, aligning with the broader goals of the Financial Emergency Act 1931-1934.
The obligations and requirements imposed by this Act are primarily directed at the states, specifically New South Wales in this instance. By classifying these specific taxes as unemployment relief taxes, the legislation ensures that funds collected through these taxes are earmarked for unemployment relief measures. This reclassification aids in the financial planning and distribution of resources to tackle unemployment, which was a significant concern during the period of the Financial Emergency Act.
The legislation does not explicitly detail offences, penalties, or consequences for non-compliance. However, given its nature and the context of the Financial Emergency Act 1931-1934, any failure to adhere to the reclassification and use of these funds as specified could potentially lead to legal scrutiny or administrative actions. Although the specific penalties are not outlined in this regulation, any breach of the Financial Emergency Act could result in penalties as prescribed in other sections of the act or related legislation, which could include fines or other legal repercussions.