Wheat (Termination of Tax) Act (No. 1) 1989

Overview

The Wheat (Termination of Tax) Act (No. 1) 1989 was enacted to amend the Wheat Tax Act 1957, effectively terminating the tax on wheat. This Act was introduced to address the need for the Commonwealth to cease imposing a tax on wheat, likely due to changing economic policies or market conditions that made the tax no longer viable or necessary. The Act was assented to on 30 May 1989 by the Queen, with the authority of the Parliament of Australia, and commenced on 1 July 1989. The policy objective of the Act was to remove the financial burden of the wheat tax from wheat producers, thereby aligning with broader agricultural policy changes and economic strategies of the time. The amendments made by this Act ensured that the tax would cease to be imposed on or before 30 June 1989, aligning with the effective date of the termination of the tax.

Scope and Application

The Wheat (Termination of Tax) Act (No. 1) 1989 applies to the Wheat Tax Act 1957, amending its provisions to effectively terminate the tax on wheat sales. This Act applies to any entity involved in the sale of wheat within the Commonwealth of Australia, including wheat growers, marketing boards, and other participants in the wheat industry. The geographic reach of this legislation is national, as it pertains to the entire Commonwealth. The Act includes amendments to the definition of "the Board" under the Wheat Tax Act 1957, ensuring that the amendments apply to the Wheat Marketing Board as continued in existence by the Wheat Marketing Act 1989. The imposition of tax is specifically limited to transactions occurring on or before 30 June 1989. The Act does not extend its application through subordinate instruments and focuses solely on the amendments specified within its text.

Key Provisions

The Wheat (Termination of Tax) Act (No. 1) 1989 (section 1) is an Act that amends the Wheat Tax Act 1957, aiming to terminate the tax on wheat production as of 1 July 1989. The Act specifies that it will be cited as the Wheat (Termination of Tax) Act (No. 1) 1989 and commences on 1 July 1989 (section 2). The term "Principal Act" refers to the Wheat Tax Act 1957, which is being amended by this Act (section 3). Section 4 of the Principal Act is modified to include a termination date for the tax, specifically stating that the tax must cease by 30 June 1989. The Wheat (Termination of Tax) Act (No. 1) 1989 imposes several obligations on the parties it governs. Primarily, it mandates the cessation of the wheat tax by a specific date, which is 30 June 1989. This cessation is achieved through the amendment of Section 4 of the Principal Act. The Act also requires that the definition of "the Board" in Section 3 of the Principal Act be updated to reflect its continued existence under the Wheat Marketing Act 1989. These amendments are intended to ensure a smooth transition and compliance with the new legislative framework. The Wheat (Termination of Tax) Act (No. 1) 1989 does not explicitly outline specific offences or penalties for non-compliance with its provisions. However, the failure to comply with the termination of the wheat tax by 30 June 1989 could potentially lead to legal consequences under the Principal Act, including fines or other penalties that might be prescribed by the Wheat Tax Act 1957. Additionally, any entity that continues to impose the wheat tax beyond the specified date could face legal action for continuing to enforce a tax that has been officially terminated by this Act. The exact penalties would depend on the relevant provisions of the Wheat Tax Act 1957, which may include fines or other civil or criminal penalties as stipulated by the law.