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 The Wool Tax (No. 1) Regulations (comprising Statutory Rules 1953, No. 64) are repealed.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 implement the provisions of the Wool Tax Act (No. 1) 1952, specifically to establish the rates of tax on wool received by wool-brokers or dealers from the first day of July, 1954. The Wool Tax Act (No. 1) 1952 was introduced to provide a mechanism for imposing a tax on wool, with the aim of generating revenue for the Commonwealth and potentially influencing the wool industry's operations. The Wool Tax (No. 1) Regulations 1954 were made by the Governor-General in accordance with the authority granted under the Wool Tax Act (No. 1) 1952 and the Wool Use Promotion Act 1953, reflecting recommendations from the Australian Wool Bureau regarding the appropriate tax rates. These regulations specify the tax rates for different quantities of wool, ensuring compliance with the minimum and maximum rates outlined in the original Act.
Scope and Application
The Wool Tax (No. 1) Regulations 1954, made under the authority of the Wool Tax Act (No. 1) 1952, establish the rates of tax on wool received by wool-brokers or dealers from the first day of July, 1954, and supersede the previously existing regulations from Statutory Rules 1953, No. 64. These regulations apply to any wool-brokers or dealers who receive wool on or after the specified date, and the tax rates are prescribed in accordance with the minimum and maximum rates set out in the Second Schedule of the Wool Tax Act. The regulations have a national reach across Australia, as they are enacted under Commonwealth law and apply uniformly throughout the country. The rates of tax are specified in the attached schedule, with rates set at 40 shillings for each bale, 20 shillings for each fadge or butt, and 8 shillings for each bag of wool. The regulations do not contain any exclusions or exemptions and apply directly to the persons and entities involved in the wool trade as defined by the Act. The application of these regulations may be further extended or specified through subordinate instruments, but the primary scope and application are as outlined in these statutory rules.
Key Provisions
The Wool Tax (No. 1) Regulations establish the rates of tax on wool received by wool-brokers or dealers, effective from July 1, 1954. Section 4 of these Regulations specifies the tax rates, which are set forth in the accompanying Schedule (Regulation 4). For each bale of wool, the tax rate is 40 shillings, for each fadge or butt, it is 20 shillings, and for each bag of wool, it is 8 shillings.
These Regulations impose obligations on wool-brokers and dealers to adhere to the specified tax rates for wool received on or after July 1, 1954. Compliance with these rates is mandatory, and any discrepancies or non-compliance may lead to scrutiny or penalties. The Regulations clarify the tax obligations for these parties, ensuring they are aware of and meet their financial responsibilities under the Act.
Breaches of these Regulations can lead to significant consequences. Although the document does not explicitly outline penalties for non-compliance, under the broader Wool Tax Act (No. 1) 1952, penalties for non-compliance with tax regulations could include fines or other financial penalties. These consequences are intended to enforce adherence to the tax rates specified and maintain the integrity of the tax system.