SALES TAX (No 5).
No. 93 of 1960.
An Act to amend the Sales Tax Act (No. 5) 1930-1957.
[Assented to 14th December, 1960.]
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 Sates Tax Act (No. 5) 1960.
(2.) The Sales Tax Act (No. 5) 1930-1957, as amended by this Act, may be cited as the Sales Tax Act (No. 5) 1930-1960.
Commencement.
2. This Act shall be deemed to have come into operation on the sixteenth day of November, One thousand nine hundred and sixty.
3. Sections three and four of the Sales Tax Act (No. 5) 1930-1957 are repealed and the following sections inserted in their stead:—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 sixteenth day of November, One thousand nine hundred and sixty, 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 1935-1960—25 per centum;
(b) in respect of goods covered by the Third Schedule to the Sales Tax (Exemptions and Classifications) Act 1935-1960—8⅓ per centum;
(c) in respect of goods covered by the Fourth Schedule to the Sales Tax (Exemptions and Classifications) Act 1935-1960—16⅔ per centum;’
(d) in respect of goods covered by the Fifth Schedule to the Sales Tax (Exemptions and Classifications). Act 1935-1960—40 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 1935-1960 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 The sales tax imposed by the provisions repealed by this Act upon the sale value of goods imported into Australia by a taxpayer on or after the fourth day of September, One thousand nine hundred and fifty-seven, and before the date of commencement of this Act continues to be imposed as if those provisions had not been repealed.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 1960 was enacted to amend the existing Sales Tax Act (No. 5) 1930-1957, addressing the need for updated tax rates and classifications of goods. This Act was passed by the Queen’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia. The primary objective was to streamline and modernise the sales tax system, ensuring it remained effective and equitable for the economic conditions of the time. The Act came into operation on 16 November 1960, introducing new tax rates and repealing previous sections to better align with the evolving economic landscape and the need for clearer tax classifications.
Scope and Application
The Sales Tax (No 5) Act 1960 amends the Sales Tax Act (No 5) 1930-1957 and applies to taxpayers who import goods into Australia from the specified commencement date of 16th November 1960. This Act imposes a sales tax on the sale value of imported goods, with the tax rates varying depending on the classification of the goods as specified in the Sales Tax (Exemptions and Classifications) Act 1935-1960. The Act applies to all imported goods, unless they are specifically exempted under the classifications listed in the Sales Tax (Exemptions and Classifications) Act 1935-1960. Any sales tax imposed by the repealed provisions on goods imported between 4th September 1957 and the Act's commencement date continues to apply as if the provisions had not been repealed. The Act's application may be further defined or extended through subordinate instruments.
Key Provisions
The Sales Tax (No 5) Act 1960 amends the Sales Tax Act (No 5) 1930-1957, introducing new rates and classifications for sales tax on imported goods. Specifically, Section 3 establishes the imposition of sales tax at the rates outlined in Section 4 on the sale value of goods imported into Australia on or after 16 November 1960. These rates vary according to the type of goods, as categorised in the schedules of the Sales Tax (Exemptions and Classifications) Act 1935-1960. For example, goods covered by the Second Schedule attract a 25% tax rate, while those in the Third Schedule are taxed at 8⅓%, and so forth.
The Act imposes several obligations on taxpayers involved in the importation of goods. Primarily, taxpayers must determine the appropriate tax rate for the goods they import, based on the classification schedules mentioned. They must also ensure that the correct amount of sales tax is accounted for and paid to the relevant authorities. The Act does not explicitly detail the process for determining tax rates or the specific records that must be kept, but these are likely to be outlined in related legislation or administrative guidelines.
Breaches of the provisions in this Act can result in legal consequences. While the specific penalties are not outlined in the provided text, it is reasonable to infer that non-compliance with sales tax obligations, such as underpayment or failure to report, could lead to penalties. Historically, penalties for tax-related offences in Australia can include fines and, in severe cases, criminal charges. The maximum penalties would depend on the nature and severity of the offence, as well as any relevant provisions in the primary legislation or subsidiary regulations.