Wool Tax Act (No. 4) 1964

Wool Tax Act (No. 4) 1964

Act No. 28 of 1964 as amended

[Note: This Act was repealed by Act No. 101 of 2006 on 14 September 2006

For transitional and application provisions see Act No. 101, 2006, Schedule 6 (items 5–11)]

This compilation was prepared on 24 January 2001
taking into account amendments up to Act No. 145 of 2000

The text of any of those amendments not in force
on that date is appended in the Notes section

The operation of amendments that have been incorporated may be
affected by application provisions that are set out in the Notes section

Prepared by the Office of Legislative Drafting and Publishing,
Attorney‑General’s Department, Canberra

Contents

1 Short title [see Note 1]...........................

2 Commencement [see Note 1].......................

3 Administration Act to be read with this Act...............

4 Imposition of tax...............................

5 Rate of tax..................................

6 Regulations..................................

Notes

An Act to impose a Tax upon Shorn Wool produced in Australia and subjected by a Manufacturer to a process of manufacture

1  Short title [see Note 1]

  This Act may be cited as the Wool Tax Act (No. 4) 1964.

2  Commencement [see Note 1]

  This Act shall come into operation on the day on which it receives the Royal Assent.

3  Administration Act to be read with this Act

  The Wool Tax (Administration) Act 1964 shall be read as one with this Act.

4  Imposition of tax

 (1) Subject to this section, tax is imposed on all shorn wool:

 (a) produced in Australia; and

 (b) on or after 1 July 1964, subjected by a manufacturer to a process of manufacture.

 (1A) Tax is not imposed by this Act if the process of manufacture occurs after the commencement of Schedule 1 to the Wool Services Privatisation Act 2000.

 (2) Tax is not imposed by this Act on shorn wool on which a tax has been imposed, whether before or after the commencement of this Act, by a repealed Wool Tax Act.

 (3) If shorn wool that has, on or after 1 July 1964, been subjected by a manufacturer to a process of manufacture is again subjected by a manufacturer to a process of manufacture, tax is not imposed by this Act on that wool by reason of the wool being subjected to the last‑mentioned process of manufacture.

 (4) Subject to subsection (4A), if shorn wool on which a tax has been imposed by a Wool Tax Act other than this Act is subjected by a manufacturer to a process of manufacture, tax is not imposed by this Act on that wool by reason of the wool being subjected to that process of manufacture.

 (4A) Subsection (4) does not apply to shorn wool if:

 (a) the tax imposed on the wool by another Wool Tax Act was imposed at a rate applicable to carpet wool; and

 (b) when tax was imposed on the wool by that other Wool Tax Act, the wool was carpet wool because of the operation of paragraph (b) or (c) of the definition of carpet wool in subsection 4(1) of the Wool Tax (Administration) Act 1964; and

 (c) the wool is subjected to a process of manufacture for the purpose of the manufacture of goods other than carpet or carpet yarn.

5  Rate of tax

 (1) The rate of tax imposed on shorn wool other than carpet wool subjected by a manufacturer to a process of manufacture is:

 (a) 15% of the sale value of the wool; or

 (b) if a lower rate is applicable to the wool under the regulations—that lower rate.

 (2) The rate of tax imposed on carpet wool subjected by a manufacturer to a process of manufacture is:

 (a) 6% of the sale value of the wool; or

 (b) if a lower rate is applicable to the wool under the regulations—that lower rate.

6  Regulations

 (1) The Governor‑General may make regulations, not inconsistent with this Act, prescribing matters:

 (a) required or permitted by this Act to be prescribed; or

 (b) necessary or convenient to be prescribed for carrying out or giving effect to this Act.

 (2) A rate prescribed for the purpose of paragraph 5(1)(b) or 5(2)(b) must be a rate that is a particular percentage of the sale value of the wool on which tax is payable.

 (4) A percentage specified in a rate of tax prescribed for the purpose of paragraph 5(1)(b) or 5(2)(b):

 (b) may be nil; but

 (c) must not be such that, at any time, the percentage is different from a percentage specified in a rate of tax prescribed for the purpose of the corresponding paragraph of another Wool Tax Act in respect of the same kind of wool.

 (5) Before making regulations under this section prescribing a rate of tax that is to apply in relation to a financial year commencing on or after 1 July 1994, the Governor‑General is required to take into consideration:

 (a) in the case of regulations to prescribe a rate for the purposes of paragraph 5(1)(b):

 (i) the percentage fixed by subsection 43(2) of the Wool International Act 1993; and

 (ii) the recommendations that are the current recommendations applying to the financial year for the purposes of sections 49 and 50 of the Australian Wool Research and Promotion Organisation Act 1993; or

 (b) in the case of regulations to prescribe a rate for the purposes of paragraph 5(2)(b), the recommendations that are the current recommendations applying to the financial year for the purposes of sections 49 and 50 of the Australian Wool Research and Promotion Organisation Act 1993.

Notes to the Wool Tax Act (No. 4) 1964

Note 1

The Wool Tax Act (No. 4) 1964 as shown in this compilation comprises Act No. 28, 1964 amended as indicated in the Tables below.

All relevant information pertaining to application, saving or transitional provisions prior to 3 May 2000 is not included in this compilation. For subsequent information see Table A.

Table of Acts

Table of Amendments

Table A

Application, saving or transitional provisions

Australian Wool Research and Promotion Organisation Amendment (Funding and Wool Tax) Act 2000 (No. 47, 2000)

Schedule 1

12  Application of amendments

(2) The amendments made by items 7 to 11 apply in determining the rate of wool tax in relation to financial years beginning on or after 1 July 2000.