SALES TAX (No. 4).
No. 58 of 1949.
An Act to amend the Sales Tax Act (No. 4) 1930–1946.
[Assented to 28th October, 1949.]
BE it enacted by the King’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—
Short title and citation.
1.—(1.) This Act may be cited as the Sales Tax Act (No. 4) 1949.
(2.) The Sales Tax Act (No. 4) 1930–1946, as amended by this Act, may be cited as the Sales Tax Act (No. 4) 1930–1949.
Commencement.
2. This Act shall be deemed to have come into operation on the eighth day of September, One thousand nine hundred and forty-nine.
Imposition of tax.
3. Section three of the Sales Tax Act (No. 4) 1930–1946 is amended—
(a) by omitting the words “on or after the 15th November, 1946” and inserting in their stead the words “during the period commencing on the 15th November, 1946, and terminating on the 7th September, 1949 “; and
(b) by adding at the end thereof the following words:—
“ on or after the 8th September, 1949—
(a) in respect of goods covered by the Third Schedule to the Sales Tax (Exemptions and Classifications) Act 1935-1949 and | 25 per centum; |
(b) in respect of goods not covered by the Third Schedule to the Sales Tax (Exemptions and Classifications) Act 1935–1949 and on the sale value of which it is not provided by that Act that sales tax shall not be payable | 8⅓ per centum.”. |
Overview
The Sales Tax Act (No. 4) 1949 was enacted to amend the existing Sales Tax Act (No. 4) 1930–1946, addressing the need to update and refine the tax regulations within the framework of the Commonwealth of Australia. This Act was passed by the King’s Most Excellent Majesty, the Senate, and the House of Representatives, reflecting a collaborative legislative effort to ensure the accuracy and effectiveness of the tax system. The primary aim of the Act was to adjust the imposition of sales tax rates and extend the period of tax applicability, thereby ensuring that the tax system could respond adequately to economic changes and government fiscal needs. The Act was designed to take effect from the eighth day of September, 1949, marking a significant update to the fiscal policy objectives of the time.
Scope and Application
The Sales Tax Act (No. 4) 1949 amends the Sales Tax Act (No. 4) 1930–1946 to impose a tax on the sale of goods within the Commonwealth of Australia. This Act applies to sales of goods occurring during the period from 15 November 1946 to 7 September 1949 and from 8 September 1949 onwards, with different tax rates applicable. Specifically, a 25% tax applies to goods listed in the Third Schedule to the Sales Tax (Exemptions and Classifications) Act 1935–1949, while an 8⅓% tax applies to goods not covered by this Schedule and for which the Sales Tax (Exemptions and Classifications) Act 1935–1949 does not exempt sales tax. The Act does not explicitly state any exclusions or exemptions beyond what is specified in the referenced Third Schedule, and its application may be further refined or expanded through subordinate legislation.
Key Provisions
The Sales Tax Act (No. 4) 1949, which amends the Sales Tax Act (No. 4) 1930–1946, introduces significant changes to the imposition and calculation of sales tax. Section 3(a) modifies the effective dates for the sales tax, now applicable from 15 November 1946 until 7 September 1949, and subsequently from 8 September 1949 onwards. Additionally, Section 3(b) sets forth new tax rates: 25% for goods listed in the Third Schedule of the Sales Tax (Exemptions and Classifications) Act 1935-1949, and 8⅓% for all other goods not exempted by that Act.
The Act imposes obligations on businesses and individuals involved in the sale of goods. Sellers are required to charge the specified sales tax rates on the sale value of goods, as delineated in the amended sections. Furthermore, they must keep accurate records of sales and the corresponding tax amounts for a period as specified by the Act. This includes maintaining documentation that demonstrates compliance with the tax obligations for any audits or reviews.
Breach of the provisions within this Act can result in various penalties and legal consequences. Non-compliance with the tax requirements, such as failing to charge the correct tax rate or inadequate record-keeping, may lead to financial penalties. The Act does not specify maximum penalties in the provided excerpt, but it is common for such breaches to result in fines or additional tax liabilities, including interest on unpaid taxes. In severe cases, criminal charges could be brought against individuals or entities found guilty of deliberate tax evasion or fraud.