Tractor Bounty Act 1944

Legislation au C1944A00037 Not in force Act

Legislation content

TRACTOR BOUNTY.

 

No. 37 of 1944.

An Act to amend the Tractor Bounty Acts 1939.

[Assented to 6th October, 1944.]

Preamble.

BE it enacted by the King’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, for the purpose of appropriating the grant originated in the House of Representatives, as follows:—

Short title and citation.

1.—(1.) This Act may be cited as the Tractor Bounty Act 1944.

(2.) The Tractor Bounty Acts 1939 is in this Act referred to as the Principal Act.

(3.) The Principal Act, as amended by this Act, may be cited as the Tractor Bounty Act 1939-1944.

Commencement.

2. This Act shall come into operation on the twenty-fourth day of October, One thousand nine hundred and forty-four.

Limit of annual bounty.

3. Section four of the Principal Act is amended by omitting sub-section (1.) and inserting in its stead the following sub-section:—

“(1.) The total amount of bounty paid under this Act in respect of tractors produced during any one financial year, commencing with the financial year which commenced on the first day of July, One thousand nine hundred and forty-four, shall not exceed One hundred thousand pounds, and the total amount of bounty so paid in respect of tractors produced during that part of the financial year succeeding the last complete financial year of the period during which this Act is in operation shall not exceed a sum which bears the same proportion to One hundred thousand pounds as that part bears to a complete financial year.”.


Specification of bounty.

4. Section six of the Principal Act is amended by omitting the word “five” and inserting in its stead the word “eight”.

Rates of bounty.

5. Section seven of the Principal Act is amended by omitting sub-sections (2.), (3.), (4.), (5.) and (6.) and inserting in their stead the following sub-sections:—

“(2.) If the rate of duty of Customs applicable to complete tractors is increased above the rate so applicable on the twenty-fourth day of October, One thousand nine hundred and forty-four, the Minister shall forthwith cause to be made such reduction in the rate of bounty payable in respect of tractors produced in a factory on or after the date of that increase as is equivalent to that increase.

“(3.) If the rate of duty of Customs applicable to any part of a tractor, other than pneumatic tyres and tubes, is increased above the rate so applicable on the twenty-fourth day of October, One thousand nine hundred and forty-four, the Minister shall forthwith cause to be made such reduction in the rate of bounty payable, under the preceding provisions of this section, in respect of tractors produced in a factory on or after the date of the increase as bears the same proportion to the bounty which would have been payable, if there had been no such increase, as the cost of that part delivered to the factory, or the factory cost of that part, as the case may be, bears to the factory cost of the tractor exclusive of the cost of pneumatic tyres and tubes

“(4.) Where, after the rate of bounty has been reduced in pursuance of sub-section (2.) or (3.) of this section, any reduction or increase occurs in the rate of duty of Customs in respect of those tractors or parts, the Minister shall forthwith cause to be made in respect of tractors produced in a factory thereafter such increase or reduction, as the case may be, in the rate of bounty theretofore payable as is equivalent to that reduction or increase in the rate of duty, but nothing in this sub-section shall authorize any increase in the rates of bounty so as to exceed the rates specified in sub-section (1.) of this section.

“(5.) Where the factory cost of materials and parts wholly manufactured in Australia is less than ninety per centum of the factory cost of the tractor, the rates of bounty payable, under the preceding provisions of this section, shall be reduced to amounts which bear the same proportion to those rates as the factory cost of those materials and parts bears to the factory cost of the tractor.

“(6.) Where the factory cost of materials and parts wholly manufactured in Australia is less than sixty per centum of the factory cost of the tractor, no bounty shall be payable.”.

Separate accounts.

6. Section twelve of the Principal Act is amended by omitting from sub-section (2.) the words “half year ending on the thirty-first day of December and each financial year ending on the thirtieth day of June respectively” and inserting in their stead “financial year”.

Overview

The Tractor Bounty Act 1944 amends the Tractor Bounty Acts 1939 to address the need for updated financial limits and bounty rates concerning the production of tractors in Australia. Enacted by the Parliament of Australia, this Act aims to appropriately allocate resources and support the agricultural sector during a period of economic adjustment and post-war recovery. The legislation establishes a new annual limit for bounty payments and modifies the bounty rates based on changes in customs duties and the proportion of Australian-manufactured parts in tractors. This Act ensures that the financial assistance provided to tractor manufacturers remains aligned with broader economic conditions and national priorities. The policy objective of this Act is to support the production of tractors in Australia by providing financial incentives, while ensuring that these incentives are responsive to economic changes and production realities. By setting new limits and adjusting bounty rates, the Act aims to balance the need for agricultural productivity with the fiscal constraints of the time. The Act comes into operation on the 24th of October, 1944, ensuring that the changes are implemented in a timely manner to support the agricultural sector during a critical period.

Scope and Application

The Tractor Bounty Act 1944 amends the Tractor Bounty Acts 1939, focusing on the regulation of financial bounties for the production of tractors within Australia. This Act applies to entities involved in the production of tractors, specifically those who qualify for the bounty payments as outlined within the legislation. The Act operates on a Commonwealth level, thereby affecting all relevant industries and manufacturers across Australia. It establishes specific limits and rates for the bounty payments, contingent on various factors such as the proportion of Australian-manufactured components within a tractor and changes to customs duties. Additionally, the Act outlines conditions under which the bounty may be reduced or withheld, such as when the proportion of Australian-made parts falls below certain thresholds. The Act does not specify exclusions or exemptions, but it does provide for adjustments to the bounty rates through subordinate instruments, ensuring the legislation remains responsive to economic changes and market conditions.

Key Provisions

The Tractor Bounty Act 1944 primarily serves as an amendment to the Tractor Bounty Acts 1939, introducing several modifications to the bounty provisions for tractors. Under section 1, the Act is cited as the Tractor Bounty Act 1944 and references the Tractor Bounty Acts 1939 as the Principal Act. The Act specifies that it comes into operation on 24 October 1944 (section 2). One of the key changes introduced by the Act is the limit on the annual bounty, which is capped at £100,000 for any financial year starting from 1 July 1944 (section 3). This limit applies proportionately to the part of the financial year following the last complete financial year during which the Act is in force. The Act also modifies the specifications for the bounty, altering the previously specified bounty amount from £5 to £8 (section 4). Furthermore, section 5 amends the rates of bounty payable by establishing a mechanism for adjustments based on changes in the rate of duty of Customs. If the Customs duty on complete tractors increases, the Minister must reduce the bounty proportionately (subsection 2). If the duty on specific parts of a tractor increases, the bounty is adjusted based on the proportion the cost of those parts bears to the total tractor cost, excluding pneumatic tyres and tubes (subsection 3). Any subsequent changes in Customs duty rates lead to equivalent adjustments in the bounty (subsection 4). If the factory cost of Australian-made materials and parts is less than 90% of the total tractor cost, the bounty rates are reduced proportionally (subsection 5). If the Australian-made content falls below 60%, no bounty is payable (subsection 6). The obligations imposed by the Act include ensuring that the bounty is not exceeded annually and that any adjustments in Customs duty rates are promptly reflected in the bounty payable. The Minister is mandated to make these adjustments to maintain the balance between Customs duties and the bounty payments. The Act also requires that separate accounts be maintained for the bounty, as amended in section 6, which now requires financial year accounting rather than specific half-year or annual periods. The Act does not explicitly state penalties for non-compliance, but breaches of the bounty provisions could potentially lead to civil consequences such as the recovery of any improperly paid bounty. Additionally, any failure to adhere to the required adjustments in bounty rates due to changes in Customs duties might result in financial discrepancies that could be subject to investigation and correction by the relevant authorities.

Legal classification tags

Area of Law
Commercial Law
Instrument
Act
Concepts
Commencement Provisions
Limit of annual bounty
Specification of bounty
Rates of bounty

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Sourced from the Federal Register of Legislation at 26 August 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au.