Commonwealth legislation

Wool Tax (No. 1) Regulations

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Act Number

106 of 1974

Collection

legislative instrument

Plain English Summary

1/10 complexity

These regulations set the amount of tax payable on wool sales in Australia. Key points:

Who it affects: Wool producers, brokers, and dealers who sell wool (who pay this tax under the Wool Tax Act).
What it does: Sets the tax rate at 2.75% of the sale value of the wool.
Timing: Started on 1 July 1974, replacing the previous year's regulations.

This is a routine administrative update that specifies exactly how much tax wool sellers must pay to the government. The tax is calculated as a percentage of what the wool sells for.

JSON API Tax / GST / superannuation

Deep dive

Want the full deep dive?

Zoe can write the in-depth analysis on top of the summary above: how it works, who it affects and what each part actually does.

Current sections

Direct links to the current provisions in Wool Tax (No. 1) Regulations.

Wool Tax (No. 1) Regulations

Commonwealth Coat of Arms of Australia

Statutory Rules

1974 No. 106

REGULATIONS UNDER THE WOOL TAX ACT (No. 1) 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. 1) 1964-1973.

Dated this twenty-first day of June, 1974.

PAUL HASLUCK

Governor-General.

By His Excellency’s Command,

FRANK CREAN

Treasurer.

————

WOOL TAX (No. 1) REGULATIONS

Citation.

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

Commencement.

These Regulations shall come into operation on 1 July 1974.

Repeal.

3. The Wool Tax (No. 1) Regulations (being Statutory Rules 1973, No. 123) are repealed.

Prescribed rate of tax.

For the purposes of paragraph (b) of section 5 of the Wool Tax Act (No. 1) 1964-1973 the rate of tax is 2.75 per centum of the sale value of the wool.

* Notified in the Australian Government Gazette on 24 June 1974.

Source text

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

1 Wool Tax (No. 1) Regulations