SALES TAX (No. 7).
No. 52 of 1954.
An Act to amend the Sales Tax Act (No. 7) 1930–1953.
[Assented to 6th November, 1954.]
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. 7) 1954.
(2.) The Sales Tax Act (No. 7) 1930–1953, as amended by this Act, may be cited as the Sales Tax Act (No. 7) 1930–1954.
Commencement.
2. This Act shall be deemed to have come into operation on the nineteenth day of August, One thousand nine hundred and fifty-four.
3. Sections three and four of the Sales Tax Act (No. 7) 1930–1953 are repealed and the following sections inserted in their stead:—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 and, on or after the nineteenth day of August, One thousand nine hundred and fifty-four, sold by a taxpayer not being the importer of the goods.
Rate 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 1935–1954—16⅔ per centum;
(b) in respect of goods covered by the Third Schedule to the Sales Tax (Exemptions and Classifications) Act 1935–1954—10 per centum; and
(c) in respect of goods not covered by the Second or Third Schedule to the Sales Tax (Exemptions and Classifications) Act 1935–1954 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 The sales tax imposed by the provisions repealed by this Act upon the sale value of goods imported into Australia and, on or after the tenth day of September, One thousand nine hundred and fifty-three, and before the date of commencement of this Act, sold by a taxpayer, not being the importer of the goods, continues to be imposed as if those provisions had not been repealed.
Overview
The Sales Tax Act (No. 7) 1954 was enacted to amend the Sales Tax Act (No. 7) 1930–1953, thereby updating and refining the sales tax system within Australia. This legislation was introduced by the Queen’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, and it aimed to address the need for revised sales tax rates and structures to better align with contemporary economic conditions. The Act sought to ensure a more precise and equitable imposition of sales tax on goods imported into Australia, particularly focusing on the rates applicable post-August 19, 1954. The policy objective was to provide a clear and structured framework for sales tax, enhancing revenue collection while maintaining fairness across different categories of goods.
Scope and Application
The Sales Tax Act (No. 7) 1954 applies to the sale value of goods imported into Australia and sold by a taxpayer who is not the importer of those goods. The Act imposes sales tax at specified rates on these transactions, effective from 19 August 1954. The tax rates vary depending on the classification of the goods, as outlined in the Second and Third Schedules to the Sales Tax (Exemptions and Classifications) Act 1935–1954, with different percentages for goods covered by these schedules and others. The Act's jurisdiction is federal, impacting all entities and individuals engaged in the sale of imported goods within Australia. The Act's application extends to the Commonwealth level and includes any subordinate instruments that may further define or refine the application of the tax. There are no exclusions explicitly stated in the provided excerpt, but it is implied that goods not covered by the specified schedules and not otherwise exempted are subject to the tax.
Key Provisions
The Sales Tax Act (No. 7) 1954 primarily revises the Sales Tax Act (No. 7) 1930–1953, introducing new tax rates for sales of imported goods and modifying the tax structure. Section 3 imposes sales tax on the sale value of goods imported into Australia and sold by a taxpayer, who is not the importer of the goods, at rates specified in Section 4. These rates are set at 16⅔ per cent for goods listed in the Second Schedule, 10 per cent for goods listed in the Third Schedule, and 12½ per cent for all other goods not listed in those schedules.
Under this Act, the obligations for taxpayers include the accurate calculation of sales tax based on the specified rates for the goods they sell. They must also ensure compliance with the new rates, which apply from the date of the Act's commencement, 19 August 1954. Additionally, taxpayers must maintain records and documentation that support the tax calculations and be prepared to provide these records to relevant authorities upon request.
The Act does not explicitly outline specific offences or penalties for non-compliance in the provided sections. However, in general, failure to comply with tax obligations under Australian law can result in significant civil and criminal consequences. Civil penalties may include fines, and in more severe cases, criminal penalties such as imprisonment may be imposed. The exact penalties would depend on the nature and extent of the non-compliance, as well as other applicable laws and regulations.