SALES TAX (No. 5).
No. 76 of 1957.
An Act to amend the Sales Tax Act (No. 5) 1930-1956.
[Assented to 12th December, 1957.]
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) 1957.
(2.) The Sales Tax Act (No. 5) 1930–1956, as amended by this Act, may be cited as the Sales Tax Act (No. 5) 1930–1957.
Commencement.
2. This Act shall be deemed to have come into operation on the fourth day of September, One thousand nine hundred and fifty-seven.
3. Sections three and four of the Sales Tax Act (No. 5) 1930–1956 are repealed and the following sections inserted in their stead:—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, imparted, into Australia on or after the fourth, day of September, One thousand nine hundred and fifty-seven, 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 1935–1957—25 per centum;
(b) in respect of goods covered by the Third Schedule to the Sales Tax (Exemptions and Classifications) Act 1935–1957—8⅓ per centum;
(c) in respect of goods covered by the Fourth Schedule to the Sales Tax (Exemptions and Classifications) Act 1935–1957—16⅔ per centum;
(d) in respect of goods covered by the Fifth Schedule to the Sales Tax (Exemptions and Classifications) Act 1935–1957—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 1935–1957 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 The sales tax imposed by the provisions repealed by this Act upon the sale value of goods imported into Australia by a taxpayer on or after the fifteenth day of March, One thousand nine hundred and fifty-six, and before the date of commencement of this Act continues to be imposed as if those provisions had not been repealed.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 1957, enacted by the Commonwealth Parliament, serves as an amendment to the Sales Tax Act (No. 5) 1930-1956. This legislation was introduced to address the need for updated tax rates on sales of goods within Australia. The Act came into operation on 4 September 1957, repealing certain sections of the previous Act and introducing new rates of sales tax on various goods. Specifically, it imposes a sales tax on the sale value of goods imported into Australia, with different rates applicable to goods classified under various schedules of the Sales Tax (Exemptions and Classifications) Act 1935-1957. The policy objective of this amendment is to ensure that the sales tax structure remains effective and reflective of current economic conditions.
Scope and Application
The Sales Tax Act (No. 5) 1957 applies to sales of goods imported into Australia by a taxpayer on or after 4 September 1957, imposing tax on the sale value of these goods. The Act specifies different tax rates depending on the classification of goods, as outlined in the Sales Tax (Exemptions and Classifications) Act 1935–1957. These classifications and corresponding tax rates range from 8⅓ per centum to 30 per centum, with a default rate of 12½ per centum for goods not covered by specific schedules. The Act also retains the sales tax imposed by previous provisions on goods imported between 15 March 1956 and the commencement of this Act. The geographic reach of the Act is confined to the importation of goods into Australia, and it does not extend to local sales within the country. The Act allows for its application to be further defined or modified through subordinate instruments, such as regulations that might specify additional details or exclusions.
Key Provisions
The Sales Tax Act (No. 5) 1957 introduces specific provisions for the imposition of sales tax on goods imported into Australia. Section 3 states that sales tax is imposed on the sale value of goods imported into Australia on or after the fourth day of September, 1957, by a taxpayer. The tax rates are specified in Section 4, which categorises goods into different schedules with corresponding tax rates. For example, goods covered by the Second Schedule are taxed at 25%, while those under the Third Schedule are taxed at 8⅓%.
The Act imposes certain obligations on taxpayers and entities involved in the sale of goods. These obligations include the calculation and payment of sales tax on imported goods at the specified rates. The taxpayer must ensure that the correct tax rate, as outlined in the schedules, is applied to the sale value of the imported goods. This requires taxpayers to maintain accurate records and documentation of the goods they import and the applicable tax rates.
There are potential consequences for non-compliance with the Act. Although the specific offences, penalties, or consequences for breach are not detailed within the text provided, it is reasonable to infer that breaches of the sales tax obligations could lead to civil or criminal penalties. These may include fines, interest on unpaid taxes, and possibly imprisonment for severe or repeated breaches. The exact penalties would typically be detailed in the broader legislative framework or associated regulations.