Statutory Rules 1996 No. 1371
Wool Tax (No. 2) Regulations2 (Amendment)
I, THE GOVERNOR-GENERAL of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, and having taken into consideration:
(a) in the case of prescribing a rate for the purposes of paragraph 5 (1) (b) of the Wool Tax Act (No. 2) 1964:
(i) the percentage fixed by subsection 43 (2) of the Wool International Act 1993; and
(ii) the current recommendations applying to the 1996-97 financial year for the purposes of sections 49 and 50 of the Australian Wool Research and Promotion Organisation Act 1993; and
(b) in the case of prescribing a rate for the purposes of paragraph 5 (2) (b) of the Wool Tax Act (No. 2) 1964 —the current recommendations applying to the 1996-97 financial year for the purposes of sections 49 and 50 of the Australian Wool Research and Promotion Organisation Act 1993;
make the following Regulations under the Wool Tax Act (No. 2) 1964.
Dated 28 June 1996.
William Deane
Governor-General
By His Excellency’s Command,
Jim Short
Assistant Treasurer
1. Commencement
1.1 These Regulations are taken to have commenced on 1 July 1996.
2. Amendment
2.1 The Wool Tax (No. 2) Regulations are amended as set out in these Regulations.
3. Regulation 3 (Rate of Tax)
3.1 Subregulation 3 (1):
Omit “l July 1995”, substitute “1 July 1996”.
3.2 Subregulation 3 (1):
Omit “8.5%”, substitute “4%”.
3.3 Subregulation 3 (2):
Omit “1 July 1995”, substitute “1 July 1996”.
NOTES
1. Notified in the Commonwealth of Australia Gazette on 1 July 1996.
2. Statutory Rules 1987 No. 144 as amended by 1990 No. 194; 1991 No. 210; 1992 No. 207; 1993 No. 171; 1994 No. 227; 1995 No. 196.