SALES TAX (No. 7).
No. 39 of 1941.
An Act to amend the Sales Tax Act (No. 7) 1930–1940.
[Assented to 25th November, 1941.]
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) 1941.
(2.) The Sales Tax Act (No. 7) 1930–1940, as amended by this Act, may be cited as the Sales Tax Act (No. 7) 1930–1941.
Commencement.
2. This Act shall come into operation on the day on which it receives the Royal Assent.
Imposition of tax.
3. Section three of the Sales Tax Act (No. 7) 1930–1940 is amended—
(a) by omitting the words and figures “on or after the 22nd November, 1940” and inserting in their stead, the words and figures “during the period commencing on the 22nd November, 1940, and terminating on the 29th October, 1941”; and
(b) by adding at the end thereof the words and figures “on or after the 30th October, 1941—
(a) in respect of goods covered by the Second Schedule to the Sales Tax (Exemptions and Classifications) Act 1935–1941 5 per centum;
(b) in respect of goods covered by the Third Schedule to the Sales Tax (Exemptions and Classifications) Act 1935–1941 20 per centum; and
(c) in respect of goods not covered by the Second or Third Schedule to the Sales Tax (Exemptions and Classifications) Act 1935–1941 and on the sale value of which it is not provided by that Act that sales tax shall not be payable 10 per centum.”.
Overview
The Sales Tax Act (No. 7) 1941 was enacted to amend the Sales Tax Act (No. 7) 1930–1940, extending and modifying the sales tax rates applicable to various goods. This Act was introduced to address the need for increased revenue to support the war effort and to adjust the taxation framework to better align with the economic changes brought about by the war. Enacted by the Australian Parliament, the Act's policy objective was to impose a sales tax on the sale of goods during the specified period, with varying rates depending on the type of goods, thereby ensuring a more structured and responsive fiscal policy in times of national urgency. The Act came into operation immediately upon receiving the Royal Assent, ensuring that the new tax rates and classifications were swiftly implemented.
Scope and Application
The Sales Tax Act (No. 7) 1941 amends the Sales Tax Act (No. 7) 1930–1940, imposing specific rates of tax on goods sold during the period from 22 November 1940 to 29 October 1941, with further rates applicable from 30 October 1941 onwards. This Act applies to sales of goods within the Commonwealth of Australia and imposes a sales tax on the sale value of goods, with different tax rates for goods classified under the Second and Third Schedules of the Sales Tax (Exemptions and Classifications) Act 1935–1941, and a default rate for goods not covered by those schedules. The Act applies to all entities and individuals engaged in the sale of goods within the Commonwealth, ensuring comprehensive coverage across all industries involved in the sale of taxable goods. The Act’s application is not restricted by subordinate instruments but is subject to the classifications and exemptions specified in the Sales Tax (Exemptions and Classifications) Act 1935–1941.
Key Provisions
The Sales Tax (No. 7) 1941 Act amends the Sales Tax Act (No. 7) 1930–1940, introducing changes primarily through section 3 (1). This section modifies the dates for the imposition of the sales tax and introduces new tax rates for different categories of goods. Specifically, section 3(1)(a) adjusts the timeframe during which the sales tax applies, extending it from 22 November 1940 to 29 October 1941. Additionally, section 3(1)(b) adds new tax rates for goods not previously specified, setting a 5% tax for goods listed in the Second Schedule to the Sales Tax (Exemptions and Classifications) Act 1935–1941, a 20% tax for goods listed in the Third Schedule, and a 10% tax for all other goods not covered by these schedules where the Sales Tax (Exemptions and Classifications) Act 1935–1941 does not exempt the sale.
The obligations under this Act primarily involve ensuring compliance with the new tax rates and timeframes specified. Sellers and businesses must correctly identify the applicable tax rate for the goods they sell, as outlined in the Sales Tax (Exemptions and Classifications) Act 1935–1941. This requires maintaining accurate records and adhering to the schedules mentioned. Additionally, entities must ensure that the sales tax is appropriately calculated and remitted within the specified period, from 30 October 1941 onwards, for the newly introduced rates.
The Act imposes penalties and consequences for non-compliance, although the specifics of these penalties are not detailed within the provided text. However, it is standard under Australian tax legislation that breaches could result in both civil and criminal consequences. Civil penalties might include fines and interest on unpaid taxes, while criminal penalties could encompass imprisonment or fines, depending on the severity and intent behind the non-compliance. The exact penalties would typically be found in related tax administration acts or in the specific sections dealing with penalties within the Sales Tax Act (No. 7) 1930–1940, which is amended by this Act.