{"id":"C1910A00014","name":"Bank Notes Tax Act 1910","slug":"bank-notes-tax-act-1910","collection":"act","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":"14 of 1910","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":12490,"registerId":"commonwealth-C1910A00014-current","compilationNumber":null,"startDate":"2026-03-31","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Bank Notes Tax Act 1910","content":"BANK NOTES TAX.\n\nNo. 14 of 1910.\n\nAn Act to impose a Tax upon Bank Notes.\n\n\\[Assented to 10th October, 1910.\\]\n\nBE it enacted by the King’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—\n\nShort title.\n\n1. This Act may be cited as the Bank Notes Tax Act 1910.\n\nCommencement.\n\n2. This Act shall commence on a day to be fixed by proclamation.\n\nDefinitions.\n\n3. In this Act—\n\n“Bank” means a person or company carrying on the business of banking;\n\n“Bank note” means a bill or note for the payment of money issued by a bank and payable to bearer on demand and intended for circulation; and\n\n“Year” means a year commencing on the first day of January.\n\nImposition of bank note tax.\n\n4. A tax at the rate of Ten pounds per centum for each year (including the year in which this Act commences) is imposed in respect of all bank notes issued or re-issued by any bank in the Commonwealth after the commencement of this Act, and not redeemed.\n\nAssessment of bank note tax.\n\n5. The tax payable under this Act by a bank for any year shall be assessed upon the average amount of bank notes issued or re-issued by the bank after the commencement of this Act, and not redeemed at the close of business on the several Mondays of that year.\n\nTime for payment of bank note tax.\n\n6. The tax imposed by this Act in respect of the bank notes of a bank shall be payable by the bank before the thirtieth day of June in the year next after the year for which it was imposed.\n\nTax to be paid to the King.\n\n7. The tax imposed by this Act shall be paid to the King for the purposes of the Commonwealth.","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":2508},"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"The Act maintains its original narrow scope of taxing privately issued bank notes. It has not expanded beyond this specific purpose."},"complexity_factors":["Only 7 short sections with no subsections","Only 3 defined terms in the interpretation section","Simple flat-rate calculation (10% per annum)","No cross-references to other Acts or complex legislative instruments","Straightforward administrative procedure with clear fixed dates"],"plain_english_summary":"This law levies a 10% annual tax on private banks’ unredeemed bank notes—£10 per £100 of notes issued and outstanding—to be calculated from the average closing value each Monday across the year. Tax is payable to the Crown by 30 June following the tax year.\n\nBy making private note-issuing costly, the measure pressured banks away from issuing their own currency and promoted a single national currency system."}},"importantCases":[],"_links":{"self":"/api/acts/bank-notes-tax-act-1910","history":"/api/acts/bank-notes-tax-act-1910/history","analysis":"/api/acts/bank-notes-tax-act-1910/analysis","conflicts":"/api/acts/bank-notes-tax-act-1910/conflicts","importantCases":"/api/acts/bank-notes-tax-act-1910/important-cases","documents":"/api/acts/bank-notes-tax-act-1910/documents"}}