STATUTORY RULES.
1954. No.
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 :
And whereas it is provided by sub-section (3.) of section three of the Wool Use Promotion Act 1953 that a reference in a law of the Commonwealth to the Australian Wool Board shall, in relation to the operation of that law after the commencement of that Act, be read as a reference to the Australian Wool Bureau :
Now therefore I, the Governor-General in and over the Commonwealth 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 made to the Minister by the Australian Wool Bureau, hereby make the following Regulations under the Wool Tax Act (No. 1) 1952.
Dated this twenty-first
day of May , 1954.
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.
* Notified in the Commonwealth Gazette on , 1954.
2183.—Price 3d. 10/11.5.1954.
Commencement.
2. These Regulations shall come into operation on the first day of July, 1954.
Repeal.
3. The Wool Tax (No. 1) Regulations (comprising Statutory Rules 1953, No. 64) are repealed.
Rates of Tax.
4. The rates of tax on wool received by a wool-broker or dealer on or after the first day of July, 1954, are the rates specified in the Schedule to these Regulations.
THE SCHEDULE.
Regulation 4.
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 |
By Authority : L. F. Johnston, Commonwealth Government Printer, Canberra.
Overview
The Wool Tax (No. 1) Regulations 1954 were enacted to provide a framework for the taxation of wool under the Wool Tax Act (No. 1) 1952. This legislative instrument was introduced to address the need for prescribed rates of tax on wool that would be received by wool-brokers or dealers from a specified date. The regulations were developed under the authority of the Governor-General in accordance with the provisions of the Wool Tax Act, which allows for the establishment of tax rates through regulations. The policy objective of these regulations is to ensure that the tax rates on wool are set at levels that are both fair and economically viable, while also providing the necessary revenue for the government. These regulations came into effect on the first day of July 1954 and replaced the previous Wool Tax (No. 1) Regulations 1953.
Scope and Application
The Wool Tax (No. 1) Regulations 1954, issued under the authority of the Wool Tax Act (No. 1) 1952, establish the tax rates applicable to wool received by wool-brokers or dealers from 1 July 1954. These regulations specifically address the imposition of taxes on various units of wool, including bales, fadges or butts, and bags, with rates specified in the attached Schedule. The legislation applies to entities engaged in the wool trade, such as wool-brokers and dealers, and pertains to the conduct of receiving and processing wool, which is subject to the prescribed tax rates. The geographic reach of these regulations is limited to the Commonwealth of Australia, as they are federal regulations. There are no stated exclusions or exemptions within the text, but the rates themselves are designed to be within the minimum and maximum thresholds outlined in the Second Schedule of the Wool Tax Act (No. 1) 1952. The application of the Act may be further extended or modified through subordinate instruments, as authorised by the Act.
Key Provisions
The Wool Tax (No. 1) Regulations 1954, under the Wool Tax Act (No. 1) 1952, establish the rates of tax applicable to wool received by wool-brokers or dealers from the first day of July, 1954, as specified in the Schedule to these Regulations (section 4). These rates must not be less than the minimum rates or greater than the maximum rates specified in the Second Schedule of the Wool Tax Act (section 6). The Governor-General is authorised to make these regulations, provided they do not conflict with the Act and are made after considering recommendations from the Australian Wool Bureau (section 7(a) and (b)). The regulations also reflect a change in reference from the Australian Wool Board to the Australian Wool Bureau, as per the Wool Use Promotion Act 1953 (subsection 3(3) of section three).
These regulations impose clear obligations on wool-brokers and dealers. They must comply with the specified tax rates for each bale, fadge, or butt, and bag of wool received on or after the first day of July, 1954. These rates are fixed and must be adhered to as per the Schedule to the regulations (Regulation 4). The obligation extends to accurately reporting and paying the prescribed tax amounts to the relevant authorities, ensuring compliance with the Wool Tax Act (No. 1) 1952 and its subsequent regulations.
Failure to comply with the tax rates and payment obligations outlined in these regulations can result in civil or criminal consequences. Although the specific penalties are not detailed within the text of these regulations, breaches of tax laws generally carry significant penalties under Australian law. These may include fines and potential legal action against the defaulting parties. The exact penalties would typically be outlined in the primary legislation or other related regulations.