SALES TAX (No. 5).
No. 10 of 1956.
An Act to amend the Sales Tax Act (No. 5) 1930–1954.
[Assented to 12th May, 1956.]
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) 1956.
(2.) The Sales Tax Act (No. 5) 1930–1954, as amended by this Act, may be cited as the Sales Tax Act (No. 5) 1930–1956.
Commencement.
2. This Act shall be deemed to have come into operation on the fifteenth day of March, One thousand nine hundred and fifty-six.
3. Sections three and four of the Sales Tax Act (No. 5) 1930–1954 are repealed and the following sections inserted in their stead:—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 fifteenth day of March, One thousand nine hundred and fifty-six, 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 1935–1956—25 per centum;
(b) in respect of goods covered by the Third Schedule to the Sales Tax (Exemptions and Classifications) Act 1935–1956—10 per centum;
(c) in respect of goods covered by the Fourth Schedule to the Sales Tax (Exemptions and Classifications) Act 1935–1956—16⅔ centum;
(d) in respect of goods covered by the Fifth Schedule to the Sales Tax (Exemptions and Classifications) Act 1935–1956—30 per centum; and
(e) in respect of goods not covered by the Second, Third, Fourth or Fifth Schedule to the Sales Tax (Exemptions and Classifications) Act 1935–1956 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 The sales tax imposed by the provisions repealed by this Act upon the sale value of goods imported into Australia by a taxpayer on or after the nineteenth day of August, One thousand nine hundred and fifty-four, and before the date of commencement of this Act continues to be imposed as if those provisions had not been repealed.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 (No. 5) Act 1956 was enacted by the Queen's Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia to amend the Sales Tax Act (No. 5) 1930–1954. The Act was introduced to address the need for updated sales tax rates and classifications to ensure a fair and effective taxation system for goods imported into Australia. This Act provides for the imposition of sales tax at specified rates on the sale value of goods imported into Australia, aligning with the fiscal policy objectives of the Commonwealth. The Act came into operation on 15 March 1956 and repealed certain sections of the previous Act while introducing new rates of sales tax for different categories of goods.
Scope and Application
The Sales Tax Act (No. 5) 1956 applies to taxpayers who import goods into Australia on or after 15th March 1956, imposing sales tax at specified rates on the sale value of these goods. The tax is levied on the import of goods by a taxpayer, with distinct rates applicable to different categories of goods as classified in the Second, Third, Fourth, and Fifth Schedules of the Sales Tax (Exemptions and Classifications) Act 1935–1956. The Act provides specific rates such as 25%, 10%, 16⅔%, 30%, and 12½% depending on the classification of the goods. It extends its application across the Commonwealth of Australia, covering all imported goods within its purview.
The Act does not explicitly state any exclusions, exemptions, or thresholds apart from those detailed in the Sales Tax (Exemptions and Classifications) Act 1935–1956. The application of the Act may be further defined or modified through subordinate instruments, which could specify additional details or exceptions not covered in the primary legislation. This comprehensive framework ensures that the sales tax is consistently applied to the sale of imported goods across Australia.
Key Provisions
The Sales Tax Act (No. 5) 1956 introduces significant changes to the previous Sales Tax Act (No. 5) 1930–1954 by imposing a sales tax on the sale value of goods imported into Australia. Section 3 specifies that sales tax is imposed at rates outlined in Section 4. The new tax rates are 25%, 10%, 16⅔%, 30%, and 12½% depending on the classification of the goods, as detailed in the Second to Fifth Schedules of the Sales Tax (Exemptions and Classifications) Act 1935–1956.
Under this Act, taxpayers are obligated to account for and remit sales tax on imported goods based on the specified rates. It is essential for taxpayers to classify the goods correctly according to the schedules referenced in Section 4 to determine the applicable tax rate. Furthermore, Section 4 ensures that sales tax imposed under the repealed provisions continues to apply to goods imported between 19 August 1954 and the commencement date of this Act, maintaining consistency in tax obligations during the transitional period.
Failure to comply with the provisions of this Act can lead to significant consequences. Section 5 (not explicitly detailed in the provided excerpt but typically found in such legislation) would likely outline offences related to non-compliance, such as the failure to report, pay, or remit sales tax. The penalties for such offences could include fines or imprisonment, with the exact penalties dependent on the severity and intent of the breach. The maximum penalties for non-compliance would be detailed in the relevant sections of the Act or in subsidiary legislation.