EXPLANATORY STATEMENT
STATUTORY RULES 1985 No. 146
Issued by the Authority of the Minister of State for Transport for and on behalf of the Minister for Primary Industry
WOOL INDUSTRY ACT 1972
WOOL INDUSTRY (APPORTIONMENT OF WOOL TAX) REGULATIONS
The purpose of these Regulations under the Wool Industry Act 1972 (the Act) is to apportion wool industry funds, collected as a tax on sales of shorn wool under the Wool Tax Acts (Nos 1-5) 1964, among wool research; wool promotion and market administration expenses; and wool market support.
The apportionment percentages are presently prescribed by the Wool Tax Acts (Nos 1-5) 1964 and associated Regulations. The Wool Tax,(Nos 1-5) Amendment Acts (Act Nos 85-89), which received Royal Assent on 6 June 1985, will remove provision to prescribe percentages from the Wool Tax Acts and associated Regulations as from 1 July 1985.
Following Royal Assent on 6 June 1985 to the Wool Industry Amendment Act 1985 (Act No 84), the apportionment provisions are now contained in the Act, and the Wool Industry (Apportionment of Wool Tax) Regulations are required to prescribe apportionment percentages as from 1 July 1985.
The Act as amended by the Wool Industry Amendment Act 1985 provides for the Governor-General to make Regulations to prescribe percentages of the sale value of shorn wool to be paid into the Wool Research Trust Fund or to the Australian Wool Corporation in respect of the general purposes of the Corporation (that is wool promotion and market administration expenses) or in respect of the Market Support Fund.
The Act as amended also provides that the sum of the percentages prescribed by Regulations to be paid into the Wool Research Trust Fund or to the Australian Wool Corporation in respect of the general purposes of the Corporation or in respect of the Market Support Fund shall be equal to the percentage specified in the rate of tax imposed by the Wool Tax Acts (Nos 1-5) 1964. That rate is presently 8%.
The Act as amended provides that the Governor-General take into consideration any recommendations made to the Minister by the Wool Council of Australia before making Regulations prescribing apportionment of wool tax receipts. The Wool Council of Australia has recommended that apportionment of wool tax receipts during 1985/86 be at the rates of 0.5% for research, 2.5% to wool promotion and market administration expenses and 5.0% for market support and the Minister has agreed with these recommendations.
The Wool Industry (Apportionment of Wool Tax) Regulations provide for apportionment of 0.5% to research, 2.5% to wool promotion and market administration expenses and 5% to market support under paragraph 68(1)(a), sub-section 83(1) and sub-section 84A(1) respectively of the Act.
As the Act comes into effect on 1 July 1985 the Regulations are made in pursuance of section 4 of the Acts Interpretation Act 1901 which provides, inter alia, that where an Act includes a power to make Regulations then unless the contrary intention appears the Regulations may be made but they shall not take effect until the Act comes into operation.