SALES TAX (No. 8).
No. 79 of 1957.
An Act to amend the Sales Tax Act (No. 8) 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. 8) 1957.
(2.) The Sales: Tax Act (No. 8) 1930-1956, as amended by this Act, may be cited as the Sales Tax Act (No. 8) 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 Sections three and four of the Sales Tax Act (No. 8) 1930–1956 are repealed and; the following sections inserted in their stead:—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, imported into Australia, and sold to a taxpayer who has, on or after the fourth day of September, One thousand nine hundred and fifty-seven applied those goods to his own use.
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 pen centum.”.
Saving.
4. The sales tax imposed by the provisions repealed by this Act upon the sale value of goods imported into Australia and sold to a taxpayer who has, on or after the fifteenth day of March, One thousand nine hundred and fifty-six, and before the date of commencement of this Act, applied those goods to his own: use continues, to be imposed as if those provisions had not been repealed.
Overview
The Sales Tax (No. 8) Act 1957 was enacted to amend the existing Sales Tax Act (No. 8) 1930-1956, addressing the need to update the sales tax rates and structure in response to changing economic conditions and taxation requirements. This Act was passed by the Queen's Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia and received Royal Assent on 12th December, 1957. It aims to impose sales tax at specified rates on the sale value of goods imported into Australia and sold to a taxpayer who has applied those goods to their own use after the specified date. The policy objective is to ensure that the sales tax rates are adequately adjusted to reflect the current fiscal needs and economic environment.
Scope and Application
The Sales Tax Act (No. 8) 1957 applies to all sales of goods imported into Australia, specifically targeting taxpayers who use these goods for their own purposes after the Act's commencement on 4 September 1957. The tax is levied at various rates depending on the type of goods, as detailed in the Sales Tax (Exemptions and Classifications) Act 1935–1957, with rates ranging from 8⅓ per centum to 30 per centum. The Act also provides continuity of tax imposition for sales made before its commencement date but applied to personal use after 15 March 1956. It is pertinent to note that the Act extends its reach through the schedules of the Sales Tax (Exemptions and Classifications) Act 1935–1957, which may include subordinate instruments to further define the application of the tax.
Key Provisions
The Sales Tax (No. 8) Act 1957 amends the Sales Tax Act (No. 8) 1930-1956, introducing new rates for sales tax on goods imported into Australia and sold to taxpayers who have applied these goods to their own use on or after the fourth day of September, 1957 (Section 3). The new rates of sales tax are specified in Section 4 of the Act, with varying percentages depending on the classification of the goods under the Sales Tax (Exemptions and Classifications) Act 1935-1957. For instance, goods listed in the Second Schedule to that Act are subject to a 25% tax, whereas those in the Third Schedule attract an 8⅓% tax. Additionally, there are specific rates for goods in the Fourth and Fifth Schedules, and a default rate of 12½% for goods not listed in these schedules (Section 4(a)-(e)).
This Act imposes obligations on taxpayers to determine the appropriate rate of sales tax to be applied to the sale value of imported goods they intend to use for their own purposes. These obligations include correctly identifying the classification of the goods according to the Sales Tax (Exemptions and Classifications) Act 1935-1957 and calculating the sales tax accordingly. Taxpayers must ensure they comply with the specified rates and must also keep adequate records to substantiate their calculations in case of an audit or review by the relevant tax authorities.
Failure to comply with the requirements of the Sales Tax (No. 8) Act 1957 can lead to several consequences. For instance, if a taxpayer fails to accurately determine and pay the required sales tax, they may be subject to penalties. The specific penalties for non-compliance, however, are not detailed in the provided text. Typically, such penalties could include fines or other financial penalties, and in severe cases, criminal charges might be brought against the offender. The precise nature and extent of the penalties would depend on the jurisdiction and the specific circumstances of the non-compliance.