Sales Tax (No. 8)
No. 76 of 1970
An Act to amend the Sales Tax Act (No. 8) 1930–1968.
[Assented to 21 October 1970]
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) 1970.
(2.) The Sales Tax Act (No. 8) 1930–1968, as amended by this Act may be cited as the Sales Tax Act (No. 8) 1930–1970.
Commencement.
2. This Act shall be deemed to have come into operation on the nineteenth day of August, One thousand nine hundred and seventy.
3. Sections 3 and 4 of the Sales Tax Act (No. 8) 1930–1968 are repealed and the following sections inserted in their stead:—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 nineteenth day of August, One thousand nine hundred and seventy, 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 1935–1967—27½ per centum;
(b) in respect of goods covered by the Third Schedule to the Sales Tax (Exemptions and Classifications) Act 1935–1967—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 1935–1967 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—15 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 The sales tax imposed by the provisions repealed by this Act upon the sale value of goods imported into Australia and sold to a taxpayer who has, on or after the fourteenth day of August, One thousand nine hundred and sixty-eight, 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of this Act, applied those goods to his own use continues to be imposed as if those provisions had not been repealed.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) 1970 was enacted to amend the Sales Tax Act (No. 8) 1930–1968, addressing the need for updated tax rates and regulations on the sale value of imported goods. This Act was enacted by the Queen’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia with the intention of establishing a new structure for sales tax imposition on goods brought into Australia. The policy objective of this Act was to ensure a more accurate and efficient tax system by adjusting the tax rates and clarifying the scope of taxable goods, while also ensuring that ongoing sales tax obligations for certain goods were maintained despite the legislative changes.
Scope and Application
The Sales Tax (No. 8) Act 1970 amends the Sales Tax Act (No. 8) 1930–1968, introducing new provisions regarding the imposition of sales tax on goods imported into Australia. This Act applies to sales of imported goods to taxpayers who have used these goods for their own purposes after the specified commencement date. The tax rates are set at 27½ per centum for goods listed in the Second or Fifth Schedule of the Sales Tax (Exemptions and Classifications) Act 1935–1967, 2½ per centum for goods in the Third Schedule, and 15 per centum for goods not listed in these schedules unless exempted by that Act. Notably, sales tax continues to apply to goods imported and used between 14 August 1968 and the commencement date of this Act. The Act operates at the national level, applying across Australia, and its scope can be extended or modified through subordinate instruments, ensuring it can adapt to changes in economic conditions or legislative intent.
Key Provisions
The Sales Tax (No. 8) Act 1970 amends the Sales Tax Act (No. 8) 1930–1968, introducing new rates of sales tax applicable to goods imported into Australia and sold to a taxpayer who has applied those goods to their own use after August 19, 1970 (section 3). This amendment specifies that sales tax is imposed at rates of 27½ percent, 2½ percent, or 15 percent depending on the classification of the goods under the Sales Tax (Exemptions and Classifications) Act 1935–1967 (section 4). Notably, section 4 of the 1930–1968 Act is repealed and replaced with these new provisions, but sales tax imposed before the Act's commencement continues to apply (section 4).
Under this Act, taxpayers who import goods and apply them to their own use on or after August 19, 1970, must account for and pay the appropriate sales tax based on the goods' classification. For goods covered by the Second or Fifth Schedule of the Sales Tax (Exemptions and Classifications) Act 1935–1967, the tax rate is 27½ percent; for those covered by the Third Schedule, it is 2½ percent; and for all other goods not exempt by the Sales Tax (Exemptions and Classifications) Act 1935–1967, the rate is 15 percent. This requirement is to ensure that the correct tax is applied to the sale value of the imported goods as per the updated rates.
Breaches of the obligations under this Act can result in civil or criminal penalties. Although specific penalties are not outlined in the provided text, it is common for such legislative breaches to attract fines or other legal consequences depending on the severity and intent of the violation. Taxpayers must adhere to the new tax rates and ensure accurate reporting and payment to avoid potential enforcement actions by the relevant authorities.