SALES TAX (No. 5).
No. 50 of 1954.
An Act to amend the Sales Tax Act (No. 5) 1930-1953.
[Assented to 6th November, 1954.]
BE it enacted by the Queen’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. 5) 1954.
(2.) The Sales Tax Act (No. 5) 1930-1953, as amended by this Act, may be cited as the Sales Tax Act (No. 5) 1930-1954.
Commencement.
2. This Act shall be deemed to have come into operation on the nineteenth day of August, One thousand nine hundred and fifty-four.
3. Sections three and four of the Sales Tax Act (No. 5) 1930-1953 are repealed and the following sections inserted in their stead:—
Imposition of tax.
“3. Sales tax is imposed, at the rates specified in the next succeeding section, upon the sale value of goods imported into Australia on or after the nineteenth day of August, One thousand nine hundred and fifty-four, by a taxpayer.
Rates of tax.
“4. The rates of the sales tax imposed by this Act are—
(a) in respect of goods covered by the Second Schedule to the Sales Tax (Exemptions and Classifications) Act 1935-1954—16⅔ per centum;
(b) in respect of goods covered by the Third Schedule to the Sales Tax (Exemptions and Classifications) Act 1935-1954—10 per centum; and
(c) in respect of goods not covered by the Second or Third Schedule to the Sales Tax (Exemptions and Classifications) Act 1935-1954 and on the sale value of which it is not provided by that Act that the sales tax imposed by this Act shall not be payable—12½ per centum.”.
Saving.
4. The sales tax imposed by the provisions repealed by this Act upon the sale value of goods imported into Australia by a taxpayer on or after the tenth day of September, One thousand nine hundred and fifty-three, and before the date of commencement of this Act continues to be imposed as if those provisions had not been repealed.
Overview
The Sales Tax Act (No. 5) 1954 was enacted to amend the Sales Tax Act (No. 5) 1930-1953. This legislation was introduced to update and refine the sales tax structure in Australia. The Act was assented to on 6th November, 1954, by the Queen’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia. The primary problem this Act sought to address was the need to revise the sales tax rates and classifications to more accurately reflect the economic conditions and taxation policies of the time. By repealing certain sections of the previous Act and inserting new provisions, the 1954 Act aimed to provide a more equitable and effective sales tax system.
Scope and Application
The Sales Tax Act (No. 5) 1954 amends the existing Sales Tax Act (No. 5) 1930-1953 to adjust the rates and application of sales tax on goods imported into Australia. The Act applies to taxpayers involved in the importation of goods into Australia from the date of its commencement, 19 August 1954. It imposes sales tax at specific rates on the sale value of goods imported, with different rates applying based on the classification of the goods as specified in the Second and Third Schedules of the Sales Tax (Exemptions and Classifications) Act 1935-1954. The Act ensures that sales tax continues to apply to goods imported within a specific period before the Act’s commencement, maintaining consistency in tax obligations for those transactions. The scope of the Act is confined to the Commonwealth of Australia, applying to all taxpayers involved in importing goods into the country, and the tax rates are set out explicitly in the legislation without reliance on subordinate instruments for further definition.
Key Provisions
The Sales Tax (No. 5) Act 1954 introduces amendments to the existing Sales Tax Act (No. 5) 1930-1953, with the primary focus being on the imposition of sales tax on goods imported into Australia. The Act imposes a sales tax at specified rates on the sale value of goods imported into Australia on or after 19 August 1954 (section 3). The tax rates are defined in section 4, with different percentages applied to goods covered by the Second and Third Schedules of the Sales Tax (Exemptions and Classifications) Act 1935-1954, and a default rate for goods not covered by those schedules or exempted by other provisions.
Under the Act, taxpayers are obligated to account for and remit sales tax on goods they import into Australia, at the rates specified in section 4 (section 3). This requirement applies to goods imported on or after the effective date of the Act, 19 August 1954. The Act also ensures continuity of tax obligations for certain goods imported between 10 September 1953 and 19 August 1954, maintaining the tax imposed by the repealed provisions as if they had not been repealed (section 4).
Breaches of the obligations imposed by this Act, such as failure to remit sales tax as required, may result in civil or criminal consequences. While specific penalties are not detailed in the provided sections, such breaches typically attract penalties under the general tax administration laws, which could include fines or other financial penalties for non-compliance, and in severe cases, criminal prosecution for wilful default. The maximum penalties would depend on the specific circumstances of the breach and the applicable tax legislation at the time.