STATUTORY RULES.
1953. No. 64.
REGULATIONS UNDER THE WOOL TAX ACT (No. 1) 1952.*
WHEREAS by section six of the Wool Tax Act (No. 1) 1952 it is provided that the rates of tax on wool received by a wool-broker or dealer on or after the first day of July, 1953, shall be such rates as are from time to time prescribed, being rates not less than the rates specified as minimum rates in the Second Schedule to that Act and not greater than the rates specified as maximum rates in that Schedule;
And whereas by section seven of that Act it is provided that—
(a) the Governor-General may make regulations, not inconsistent with that Act, for prescribing the rates of tax in accordance with section six of that Act; and
(b) before making regulations under that section, the Governor-General shall take into consideration any recommendations with respect to the rates of the tax made to the Minister by the Australian Wool Board after consultation between the members of the Board appointed to the Board on the nomination of an organization and that organization:
Now therefore I, the Governor-General in and over the Common wealth of Australia, acting with the advice of the Federal Executive Council and after taking into consideration the recommendation with respect to the rates of the tax during the period specified in regulation 2 of the following Regulations made to the Minister by the Australian Wool Board, hereby make the following Regulations under the Wool Tax Act (No. 1) 19'2.
Dated this twenty fifth
day of June , 1953.
W.J. Slim
Governor-General.
By His Excellency's Command,
Treasurer
Wool Tax (No. 1) Regulations.
Citation
1. These Regulations may be cited as the Wool Tax (No. 1).Regulations.
2. The rates of tax on wool received by a wool-broker or dealer Rates of tax on or after the first day of July, 1953, and on or before the first day of July, 1954, are the rates specified in the Schedule to these Regulations.
THE SCHEDULE.
RATES OF TAX.
| s. | d. |
For each bale of wool................................. | 4 | 0 |
For each fadge or butt of wool........................... | 2 | 0 |
For each bag of wool................................. | 0 | 8 |
* Notified in the Commonwealth Gazette on , 1953.
By Authority: L. F. Johnston, Commonwealth Government Printer, Canberra
2746.—PRICE 3D. 10/8.61953
Overview
The Wool Tax (No. 1) Regulations 1953 were enacted to set the rates of tax on wool received by wool-brokers or dealers from 1 July 1953 to 1 July 1954. This legislative instrument was introduced to ensure that the rates of tax on wool were prescribed in accordance with the Wool Tax Act (No. 1) 1952, which sets minimum and maximum tax rates for wool. The Governor-General, acting with the advice of the Federal Executive Council and based on recommendations from the Australian Wool Board, established these rates through the Regulations. This ensures that the tax rates remain within the bounds specified by the Act and aligns with the policy objectives of regulating the wool industry to ensure fair taxation and compliance.
Scope and Application
The Wool Tax (No. 1) Regulations, 1953, apply to the tax on wool received by wool-brokers or dealers from the first day of July, 1953, up to the first day of July, 1954. These regulations were made under the authority of the Wool Tax Act (No. 1) 1952 and are applicable nationwide within the Commonwealth of Australia. They specify the tax rates on wool, detailing that for each bale, the tax is four shillings, for each faggot or butt, two shillings, and for each bag, eight pence. These regulations extend the application of the Wool Tax Act by providing the exact tax rates for the specified period, ensuring that the minimum and maximum rates prescribed in the Act are adhered to. Notably, the regulations do not explicitly mention any exclusions, exemptions, or thresholds, implying that the specified tax rates apply broadly within the scope of the Act to all relevant transactions and entities involved in the wool trade.
Key Provisions
The operative sections of the Wool Tax (No. 1) Regulations 1953 specify the rates of tax for wool received by wool-brokers or dealers during the period from July 1, 1953, to July 1, 1954. According to Regulation 2, the tax rates are set out in the accompanying Schedule, which lists the tax per unit of wool, such as per bale, fadge or butt, and bag. For instance, the tax per bale of wool is specified as 4 shillings, per fadge or butt as 2 shillings, and per bag as 8 pence.
These regulations impose obligations on wool-brokers and dealers to pay the specified tax rates on wool they receive within the designated timeframe. They must ensure that the appropriate tax is charged and collected from their clients in accordance with the rates outlined in the Schedule. The Australian Wool Board, having recommended these rates, plays a role in ensuring that the tax rates are fair and in line with the objectives of the Wool Tax Act (No. 1) 1952.
The Act does not explicitly outline offences, penalties, or consequences for breaches within the regulations themselves. However, it is reasonable to infer that failure to comply with the tax requirements could lead to legal action under the broader Wool Tax Act (No. 1) 1952. Such non-compliance might result in fines or other penalties as determined by the applicable law, although specific penalties are not detailed within these regulations. The regulations focus primarily on setting the tax rates rather than detailing enforcement measures.