Commonwealth legislation

Wool Tax (No. 3) Regulations

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Act Number

125 of 1973

Collection

legislative instrument

Plain English Summary

1/10 complexity

What these regulations do

These regulations set the amount of tax payable on wool sales in Australia. They establish that sellers must pay tax equal to 2.4% of the sale price (the sale value) of the wool.

Who is affected

Primarily wool growers and producers who sell wool, as they are responsible for paying this tax on their transactions.

Key points

Tax rate: Fixed at 2.4% of the wool's sale value
Legal effect: These rules give specific effect to section 5(b) of the Wool Tax Act (No. 3) 1964-1973 by setting the exact percentage
Transition: They replaced the previous 1970 regulations and took effect on 1 July 1973

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Current sections

Direct links to the current provisions in Wool Tax (No. 3) Regulations.

Wool Tax (No. 3) Regulations

Commonwealth Coat of Arms of Australia

Statutory Rules

1973 No. 125

REGULATIONS UNDER THE WOOL TAX ACT (No. 3) 1964-1973.*

I, THE GOVERNOR-GENERAL of Australia, acting with the advice of the Executive Council, hereby make the following Regulations under the Wool Tax Act (No. 3) 1964-1973.

Dated this twenty-seventh day of June, 1973.

PAUL HASLUCK

Governor-General.

By His Excellency’s Command,

FRANK CREAN

Treasurer.

WOOL TAX (No. 3) REGULATIONS

Citation.

1. These Regulations may be cited as the Wool Tax (No. 3) Regulations.

Commencement.

These Regulations shall come into operation on 1st July, 1973.

Repeal.

3. The Wool Tax (No. 3) Regulations (being Statutory Rules 1970, No. 97) are repealed.

Prescribed rate of tax.

For the purposes of paragraph (b) of section 5 of the Wool Tax Act (No. 3) 1964-1973 the rate of tax is two and four-tenths per centum of the sale value of the wool.

* Notified in the Commonwealth Gazette on 29 June 1973.

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

1 Wool Tax (No. 3) Regulations