SALES TAX (No. 8).
No. 83 of 1964.
An Act to amend the Sales Tax Act (No. 8) 1930–1962.
[Assented to 5th November, 1964.]
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) 1964.
(2.) The Sales Tax Act (No. 8) 1930–1962, as amended by this Act, may be cited as the Sales Tax Act (No. 8) 1930–1964.
Commencement.
2. This Act shall be deemed to have come into operation on the twelfth day of August, One thousand nine hundred and sixty-four.
3. Sections three and four of the Sales Tax Act (No. 8) 1930–1962 are repealed and the following sections inserted in their stead:—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 twelfth day of August, One thousand nine hundred and sixty-four, 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 or Fifth Schedule to the Sales Tax (Exemptions and Classifications) Act 1935–1963—25 per centum;
(b) in respect of goods covered by the Third Schedule to the Sales Tax (Exemptions and Classifications) Act 1935–1963—2½ per centum; and
(c) in respect of goods not covered by the Second, Third or Fifth Schedule to the Sales Tax (Exemptions and Classifications) Act 1935–1963 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 The sales tax imposed by the provisions repealed by this Act upon the sale value of goods imported into Australia and sold to a taxpayer who has, on or after the seventh day of February, One thousand nine hundred and sixty-two, 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of this Act, applied those goods to his own use continues to be imposed as if those provisions had not been repealed.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 Act (No. 8) 1964 was enacted to amend the Sales Tax Act (No. 8) 1930–1962, addressing the need to update and refine the existing tax structure on the sale of goods. This legislation was assented to on 5th November, 1964, by the Queen's Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia. The primary objective of this Act was to adjust the rates of sales tax applied to various categories of goods, ensuring a more equitable distribution of the tax burden across different types of sales. The Act also aimed to clarify and streamline the imposition of sales tax on goods imported into Australia, thereby providing a more straightforward framework for taxpayers and tax collectors alike.
Scope and Application
The Sales Tax Act (No. 8) 1964 applies to the sale value of goods imported into Australia and sold to a taxpayer who uses these goods for their own purposes. The Act specifically imposes a sales tax on such transactions, with the tax rates varying based on the classification of the goods, as outlined in the Sales Tax (Exemptions and Classifications) Act 1935–1963. The Act's jurisdiction is the Commonwealth of Australia, and it has a national reach. Notably, the Act excludes goods covered by specific schedules of the Sales Tax (Exemptions and Classifications) Act 1935–1963, which have different tax rates, and it also exempts certain goods from the tax altogether. The Act came into effect on the twelfth day of August, 1964, but it provides a saving clause for sales tax imposed before its commencement but after the seventh day of February, 1962.
Key Provisions
The Sales Tax Act (No. 8) 1964 primarily revises the sales tax provisions by replacing sections three and four of the Sales Tax Act (No. 8) 1930–1962 with new provisions regarding the imposition and rates of sales tax. Specifically, section 3 imposes sales tax on the sale value of goods imported into Australia and sold to a taxpayer who applies these goods to their own use after 12 August 1964. The tax rates are detailed in section 4, with 25% tax for goods listed in the Second or Fifth Schedule of the Sales Tax (Exemptions and Classifications) Act 1935–1963, 2.5% for goods listed in the Third Schedule, and 12.5% for all other goods not listed in these schedules and not exempted by the Sales Tax (Exemptions and Classifications) Act 1935–1963.
Under this Act, taxpayers who import goods into Australia and apply them to their own use after 12 August 1964 are subject to sales tax at the rates specified. The Act imposes obligations on these taxpayers to declare the sale value of the imported goods and to calculate and pay the appropriate sales tax based on the goods' classification. This includes maintaining accurate records and documentation to support the tax calculations and declarations. Additionally, taxpayers must comply with any reporting requirements and deadlines as stipulated by the relevant tax authorities.
Failure to comply with the sales tax obligations under this Act can result in civil and criminal penalties. The specific consequences for non-compliance depend on the nature and extent of the breach. For instance, civil penalties may include fines and interest on unpaid taxes, while criminal penalties could result in imprisonment and/or fines. The maximum penalties are not explicitly stated in the provided text, but they are typically detailed in the broader tax legislation or related regulations.