FINANCIAL RELIEF.
No. 16 of 1934.
An Act to provide relief to Taxpayers; to amend laws relating to Financial Emergency; to provide Financial Relief for certain Primary Producers; and for other purposes.
[Assented to 1st August, 1934.]
BE it enacted by the King’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—
Part I.—Preliminary.
Short title and citation.
1.—(1.) This Act may be cited as the Financial Relief Act 1934.
(2.) The Financial Emergency Act 1931-1933, as amended by this Act, may be cited as the Financial Emergency Act 1931–1934.
(3.) The Financial Relief Act 1932–1933, as amended by this Act, may be cited as the Financial Relief Act 1932-1934.
Parts.
2. This Act is divided into Parts as follows:—
Part I.—Preliminary.
Part II.—Sales Tax.
Part III.—Maternity Allowances.
Part IV.—War Pensions.
Part V.—Salaries and Wages
Part VI.—Relief to Primary Producers.
Part VII.—Assistance to Fruit Growers.
Part VIII.—General.
Part II.—Sales Tax.
Citation of Sales Tax Assessment Acts.
3.—(1.) The Sales Tax Assessment Act (No. 1) 1930–1933, as amended by this Part, may be cited as the Sales Tax Assessment Act (No. 1) 1930–1934.
(2.) The Sales Tax Assessment Act (No. 2) 1930-1933, as amended by this Part, may be cited as the Sales Tax Assessment Act (No. 2) 1930–1934.
(3.) The Sales Tax Assessment Act (No. 3) 1930-1933, as amended by this Part, may be cited as the Sales Tax Assessment Act (No. 3) 1930–1934.
(4.) The Sales Tax Assessment Act (No. 4) 1930-1933, as amended by this Part, may be cited as the Sales Tax Assessment Act (No. 4) 1930–1934.
(5.) The Sales Tax Assessment Act (No. 5) 1930–1933, as amended by this Part, may be cited as the Sales Tax Assessment Act (No. 5) 1930–1934.
(6.) The Sales Tax Assessment Act (No. 6) 1930–1933, as amended by this Part, may be cited as the Sales Tax Assessment Act (No. 6) 1930–1934.
(7.) The Sales Tax Assessment Act (No. 7) 1930–1933, as amended by this Part, may be cited as the Sales Tax Assessment Act (No. 7) 1930–1934.
(8.) The Sales Tax Assessment Act (No. 8) 1930–1933, as amended by this Part, may be cited as the Sales Tax Assessment Act (No. 8) 1930–1934.
Goods sold to Government Departments.
4.—(1.) The amendment effected by paragraph (a) of section four of the Sales Tax Assessment Act (No. 1) 1931 to section twenty of the Sales Tax Assessment Acts (No. 1) 1930 shall, notwithstanding the provisions of section thirteen of the Sales Tax Assessment Act (No. 1) 1931, be deemed to have commenced on the date of commencement of the Sales Tax Assessment Act (No. 1) 1930
(2.) The amendment effected by paragraph (b) of section four of the Sales Tax Assessment Act (No. 2) 1931 to section six of the
Overview
The Financial Relief Act 1934 was enacted by the Commonwealth Parliament to provide financial relief to taxpayers and address certain gaps in existing legislation. This Act was introduced to provide relief to taxpayers, amend laws relating to financial emergencies, and provide financial relief for certain primary producers. One of the primary purposes of this Act was to provide financial assistance to states and territories for the benefit of primary producers, particularly those engaged in the production of primary produce other than wheat. It also aimed to amend laws relating to maternity allowances, war pensions, and salaries and wages. By providing targeted financial assistance and amending relevant laws, the Act sought to alleviate the financial burden on affected individuals and industries during a period of economic hardship.
Scope and Application
The Financial Relief Act 1934 applies to taxpayers, financial institutions, primary producers, and public authorities across the Commonwealth of Australia. This Act amends and extends the Financial Emergency Act 1931-1933 and the Financial Relief Act 1932-1933, modifying their scope and operational provisions. Key changes include alterations to sales tax assessments, maternity allowance provisions, war pensions, salary and wage reductions, and relief provisions for primary producers and fruit growers. Notably, the Act provides specific financial relief measures for primary producers in states and territories, contingent on the use of artificial manure, and sets out penalties for false claims and non-compliance. The amendments to sales tax assessment acts include exemptions for various goods and services, particularly those used in agricultural and pastoral activities. The Act also mandates the Governor-General to issue regulations necessary for its implementation, which may include penalties for non-compliance. The Act's provisions apply nationwide, affecting individuals, entities, and industries within its defined scope.
Key Provisions
- The Financial Relief Act 1934 outlines various provisions for providing financial relief during a period of economic distress. The Act includes amendments to existing legislation, such as the Sales Tax Assessment Acts and the Financial Emergency Act 1931–1933, to adjust tax rates and exemptions for specific goods and services. For example, certain machinery, equipment, and materials used in farming, pastoral pursuits, and other industries are exempted from sales tax (sections 6 and 7). Additionally, the Act introduces new provisions, such as maternity allowances for mothers with children under the age of fourteen, subject to income limits (section 11).
- The Act imposes specific obligations on taxpayers, primary producers, and fruit growers. Taxpayers must comply with the amended sales tax provisions, ensuring that they correctly classify and report taxable sales. Primary producers seeking relief must apply for and obtain certificates from the Secretary of the Department of Commerce, verifying the use of artificial manure in their production processes (section 21). Fruit growers in participating states receive financial assistance, which must be used to benefit the fruit-growing industry (section 29).
- Violations of the Act may result in significant penalties. For example, obtaining payments through false statements or failing to provide required information carries a penalty of up to five hundred pounds or two years' imprisonment (section 23). Similarly, failure to comply with a notice to furnish books, documents, and information can result in a penalty of up to one hundred pounds or six months' imprisonment (section 24). These provisions underscore the importance of compliance with the Act's requirements to avoid legal consequences.
- Area of Law
- Taxation Law
- Social Security Law
- Instrument
- Act
- Concepts
- Definitions & Interpretation
- Reporting & Disclosure Obligations
- Penalty Provisions
- Administrative Discretion