SALES TAX (No. 7).
No. 38 of 1931.
An Act to amend the Sales Tax Act (No. 7) 1930.
[Assented to 10th August, 1931.]
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. 7) 1931.
(2.) The Sales Tax Act (No. 7) 1930 is in this Act referred to as the Principal Act.
(3.) The Principal Act, as amended by this Act, may be cited as the Sales Tax Act (No. 7) 1930-1931.
Commencement.
2. This Act shall be deemed to have commenced on the eleventh day of July, One thousand nine hundred and thirty-one.
Incorporation.
3. Section two of the Principal Act is amended by omitting the figures “1930” and inserting in their stead the figures “1930-1931”.
Imposition of tax.
4. Section three of the Principal Act is amended by omitting the words “and sold by a taxpayer not being the importer of those goods” and inserting in their stead the words “,which are sold, before the eleventh day of July, One thousand nine hundred and thirty-one, by a taxpayer not being the importer of those goods, and at the rate of six per centum upon the sale value of goods imported into Australia, which are sold, on or after that date, by a taxpayer not being the importer of those goods”.
Overview
The Sales Tax Act (No. 7) 1931 was enacted to amend the Sales Tax Act (No. 7) 1930, addressing the need to modify existing tax provisions to accommodate changing economic circumstances and legislative requirements. This Act was brought into law by the King’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia on 10 August 1931. The primary purpose of this legislation was to adjust the rates and conditions under which sales tax is imposed, ensuring the tax system remains effective and responsive to the economic environment. This amendment reflects a policy objective to refine and update the tax framework to support the economic policies of the time.
Scope and Application
The Sales Tax Act (No. 7) 1931 amends the Sales Tax Act (No. 7) 1930, with its amendments coming into effect on 11 July 1931. The amended Act, referred to as the Sales Tax Act (No. 7) 1930-1931, imposes a sales tax on goods sold by taxpayers who are not the importers of those goods. Specifically, the tax rate is six per centum on the sale value of goods imported into Australia, with a distinction made for goods sold before and on or after the commencement date of the amended Act. This legislation applies to any goods sold by a taxpayer who is not the importer, encompassing various industries and transactions involving the sale of imported goods within Australia. The Act’s jurisdiction is at the Commonwealth level, impacting all states and territories under federal governance. The Act does not explicitly state any exclusions, exemptions, or thresholds, but it may be further defined or restricted through subordinate instruments issued under its authority.
Key Provisions
The Sales Tax Act (No. 7) 1931 amends the Sales Tax Act (No. 7) 1930, with key changes highlighted in Sections 2 to 4. Section 2 adjusts the incorporation details, changing the reference from “1930” to “1930-1931”. Section 3 revises the imposition of tax, specifying different rates and conditions based on the sale date of goods. Specifically, it distinguishes between goods sold before and after 11 July 1931, applying a six percent tax rate to sales occurring on or after that date.
The Act imposes specific obligations on taxpayers involved in the sale of goods. For transactions taking place before 11 July 1931, the tax rate remains unchanged, while for those occurring on or after that date, a six percent tax on the sale value must be applied. This applies to taxpayers who are not the importers of the goods. The amended act requires these taxpayers to ensure they calculate and remit the appropriate tax based on the new rates and conditions outlined in the legislation.
Failure to comply with the provisions of the Act can lead to various consequences. Offences under this Act may result in both civil and criminal penalties. For instance, penalties can include fines, imprisonment, or other sanctions as prescribed by the relevant authorities. The maximum penalties, where stated, are significant, reflecting the seriousness with which non-compliance is treated. It is essential for taxpayers to adhere to these obligations to avoid facing these potential legal repercussions.