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Commonwealth act
This Act has been repealed and is no longer in force. It is retained for historical reference.
Mechanically, this Act reduces customs duties on a long list of tariff items (those listed in the Schedule) for goods admissible under the British Preferential Tariff when Australian currency has fallen by set thresholds against the exporting British country’s currency. It prescribes two depreciation bands with fixed reductions (a fraction of the duty or an ad valorem cap, whichever is less), excludes certain duties, and operates from a specified retrospective date. The change matters to importers, domestic producers covered by protective duties, and customs revenue because it alters effective tax rates and compliance calculations.
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Direct links to the current provisions in Customs Tariff (Exchange Adjustment) Act 1933.
Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.
CUSTOMS TARIFF (EXCHANGE ADJUSTMENT).
No. 29 of 1933.
An Act to provide for Adjustments in Duties of Customs consequent upon depreciation in the value of Australian currency in relation to the currencies of countries to goods of which the British Preferential Tariff applies.
[Assented to 4th December, 1933.]
BE it enacted by the King’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—
Short title.
Incorporation.
Definition.
“Customs Tariff proposals” means Customs Tariff proposals (not being proposals relating to primage duty) introduced into the House of Representatives on or after the thirteenth day of October, One thousand nine hundred and thirty-two, and includes any amendment of such proposals;
“goods to which protective duties apply” shall be deemed to be the goods specified in the Schedule to this Act or covered by the Customs Tariff Items so specified;
“the British Preferential Tariff” means the Tariff from time to time in force applying to goods the produce or manufacture of the United Kingdom.
Time of variation of duties.
Adjustment in duties of Customs.
(a) Whenever at the date of exportation of any such goods Australian currency is depreciated to the extent of not less than sixteen and two-thirds per centum in relation to the currency of the British country from which those goods are imported, a deduction from the amount of duty payable on those goods in accordance with any law of the Commonwealth for the time being in force imposing Duties of Customs (other than primage duty and duty imposed by the Customs Tariff (Industries Preservation) Act 1921-1922 or any Act amending or in substitution for that Act) or in accordance with Customs Tariff proposals shall be made of—
(i) one-fourth of that amount of duty; or
(ii) twelve and one-half per centum of the value for duty,
whichever is the less; and
(b) Whenever at the date of exportation of any such goods Australian currency is depreciated to the extent of not less than eleven and one-ninth per centum and less than sixteen and two-thirds per centum in relation to the currency of the British country from which those goods are imported, a deduction from the amount of duty payable on those goods in accordance with any law of the Commonwealth for the time being in force imposing Duties of Customs (other than primage duty and duty imposed by the Customs Tariff (Industries Preservation) Act 1921-1922 or any Act amending or in substitution for that Act) or in accordance with Customs Tariff proposals shall be made of—
(i) one-eighth of that amount of duty; or
(ii) six and one-quarter per centum of the value for duty,
whichever is the less.
Variations prior to the dates of Assent to this Act.
THE SCHEDULE.
——
Customs Tariff Item—
<table cellspacing="0" cellpadding="0" style="width:100%; margin-bottom:0pt; border-collapse:collapse"><tbody><tr style="height:1pt"><td style="width:39.16%; padding-right:2pt; padding-left:2pt; vertical-align:top"><p style="margin-left:28.8pt; margin-bottom:0pt; text-align:justify; line-height:normal"><span style="font-family:'Times New Roman', serif">2,</span></p></td><td style="width:31.8%; padding-right:2pt; padding-left:2pt; vertical-align:top"><p style="margin-left:21.6pt; margin-bottom:0pt; text-align:justify; line-height:normal"><span style="font-family:'Times New Roman', serif; font-variant:small-caps">44 (</span><span style="font-family:'Times New Roman', serif; font-variant:small-caps">e</span><span style="font-family:'Times New Roman', serif; font-variant:small-caps">),</span></p></td><td style="width:29.06%; padding-right:2pt; padding-left:2pt; vertical-align:top"><p style="margin-left:21.6pt; margin-bottom:0pt; text-align:justify; line-height:normal"><span style="font-family:'Times New Roman', serif">62,</span></p></td></tr><tr style="height:1pt"><td style="width:39.16%; padding-right:2pt; padding-left:2pt; vertical-align:top"><p style="margin-left:28.8pt; margin-bottom:0pt; text-align:justify; line-height:normal"><span style="font-family:'Times New Roman', serif">4,</span></p></td><td style="width:31.8%; padding-right:2pt; padding-left:2pt; vertical-align:top"><p style="margin-left:21.6pt; margin-bottom:0pt; text-align:justify; line-height:normal"><span style="font-family:'Times New Roman', serif; font-variant:small-caps">44 (</span><span style="font-family:'Times New Roman', serif; font-variant:small-caps">f</span><span style="font-family:'Times New Roman', serif; font-variant:small-caps">)</span><span style="font-family:'Times New Roman', serif; font-variant:small-caps">,</span></p></td><td style="width:29.06%; padding-right:2pt; padding-left:2pt; vertical-align:top"><p style="margin-left:21.6pt; margin-bottom:0pt; text-align:justify; line-height:normal"><span style="font-family:'Times New Roman', serif; font-variant:small-caps">63 (a),</span></p></td></tr><tr style="height:1pt"><td style="width:39.16%; padding-right:2pt; padding-left:2pt; vertical-align:top"><p style="margin-left:28.8pt; margin-bottom:0pt; text-align:justify; line-height:normal"><span style="font-family:'Times New Roman', serif">5,</span></p></td><td style="width:31.8%; padding-right:2pt; padding-left:2pt; vertical-align:top"><p style="margin-left:21.6pt; margin-bottom:0pt; text-align:justify; line-height:normal"><span style="font-family:'Times New Roman', serif">46,</span></p></td><td style="width:29.06%; padding-right:2pt; padding-left:2pt; vertical-align:top"><p style="margin-left:21.6pt; margin-bottom:0pt; text-align:justify; line-height:normal"><span style="font-family:'Times New Roman', serif; font-variant:small-caps">64 (a),</span></p></td></tr><tr style="height:1pt"><td rowspan="2" style="width:39.16%; padding-right:2pt; padding-left:2pt; vertical-align:top"><p style="margin-left:28.8pt; margin-bottom:0pt; text-align:justify; line-height:normal"><span style="font-family:'Times New Roman', serif">6 (</span><span style="font-family:'Times New Roman', serif; font-variant:small-caps">b</span><span style="font-family:'Times New Roman', serif">) (as to deferred duty),</span></p></td><td style="width:31.8%; padding-right:2pt; padding-left:2pt; vertical-align:top"><p style="margin-left:21.6pt; margin-bottom:0pt; text-align:justify; line-height:normal"><span style="font-family:'Times New Roman', serif">47,</span></p></td><td style="width:29.06%; padding-right:2pt; padding-left:2pt; vertical-align:top"><p style="margin-left:21.6pt; margin-bottom:0pt; text-align:justify; line-height:normal"><span style="font-family:'Times New Roman', serif; font-variant:small-caps">65,</span></p></td></tr><tr style="height:1pt"><td style="width:31.8%; padding-right:2pt; padding-left:2pt; vertical-align:top"><p style="margin-left:21.6pt; margin-bottom:0pt; text-align:justify; line-height:normal"><span style="font-family:'Times New Roman', serif">49,</span></p></td><td style="width:29.06%; padding-right:2pt; padding-left:2pt; vertical-align:top"><p style="margin-left:21.6pt; margin-bottom:0pt; text-align:justify; line-height:normal"><span style="font-family:'Times New Roman', serif; font-variant:small-caps">67,</span></p></td></tr><tr style="height:1pt"><td style="width:39.16%; padding-right:2pt; padding-left:2pt; vertical-align:top"><p style="margin-left:28.8pt; margin-bottom:0pt; text-align:justify; line-height:normal"><span style="font-family:'Times New Roman', serif">7,</span></p></td><td style="width:31.8%; padding-right:2pt; padding-left:2pt; vertical-align:top"><p style="margin-left:21.6pt; margin-bottom:0pt; text-align:justify; line-height:normal"><span style="font-family:'Times New Roman', serif">50,</span></p></td><td style="width:29.06%; padding-right:2pt; padding-left:2pt; vertical-align:top"><p style="margin-left:21.6pt; margin-bottom:0pt; text-align:justify; line-height:normal"><span style="font-family:'Times New Roman', serif; font-variant:small-caps">68,</span></p></td></tr><tr style="height:1pt"><td style="width:39.16%; padding-right:2pt; padding-left:2pt; vertical-align:top"><p style="margin-left:28.8pt; margin-bottom:0pt; text-align:justify; line-height:normal"><span style="font-family:'Times New Roman', serif">8,</span></p></td><td style="width:31.8%; padding-right:2pt; padding-left:2pt; vertical-align:top"><p style="margin-left:21.6pt; margin-bottom:0pt; text-align:justify; line-height:normal"><span style="font-family:'Times New Roman', serif">51 (</span><span style="font-family:'Times New Roman', serif; font-variant:small-caps">c</span><span style="font-family:'Times New Roman', serif">) (2),</span></p></td><td style="width:29.06%; padding-right:2pt; padding-left:2pt; vertical-align:top"><p style="margin-left:21.6pt; margin-bottom:0pt; text-align:justify; line-height:normal"><span style="font-family:'Times New Roman', serif; font-variant:small-caps">69 (</span><span style="font-family:'Times New Roman', serif; font-variant:small-caps">c</span><span style="font-family:'Times New Roman', serif; font-variant:small-caps">),</span></p></td></tr><tr style="height:1pt"><td style="width:39.16%; padding-right:2pt; padding-left:2pt; vertical-align:top"><p style="margin-left:28.8pt; margin-bottom:0pt; text-align:justify; line-height:normal"><span style="font-family:'Times New Roman', serif">9,</span></p></td><td style="width:31.8%; padding-right:2pt; padding-left:2pt; vertical-align:top"><p style="margin-left:21.6pt; margin-bottom:0pt; text-align:justify; line-height:normal"><span style="font-family:'Times New Roman', serif; font-variant:small-caps">51 (e),</span></p></td><td style="width:29.06%; padding-right:2pt; padding-left:2pt; vertical-align:top"><p style="margin-left:21.6pt; margin-bottom:0pt; text-align:justify; line-height:normal"><span style="font-family:'Times New Roman', serif; font-variant:small-caps">70,</span></p></td></tr><tr style="height:1pt"><td style="width:39.16%; padding-right:2pt; padding-left:2pt; vertical-align:top"><p style="margin-left:21.6pt; margin-bottom:0pt; text-align:justify; line-height:normal"><span style="font-family:'Times New Roman', serif">10,</span></p></td><td style="width:31.8%; padding-right:2pt; padding-left:2pt; vertical-align:top"><p style="margin-left:21.6pt; margin-bottom:0pt; text-align:justify; line-height:normal"><span style="font-family:'Times New Roman', serif; font-variant:small-caps">52,</span></p></td><td style="width:29.06%; padding-right:2pt; padding-left:2pt; vertical-align:top"><p style="margin-left:21.6pt; margin-bottom:0pt; text-align:justify; line-height:normal"><span style="font-family:'Times New Roman', serif; font-variant:small-caps">71,</span></p></td></tr><tr style="height:1pt"><td style="width:39.16%; padding-right:2pt; padding-left:2pt; vertical-align:top"><p style="margin-left:21.6pt; margin-bottom:0pt; text-align:justify; line-height:normal"><span style="font-family:'Times New Roman', serif">11,</span></p></td><td style="width:31.8%; padding-right:2pt; padding-left:2pt; vertical-align:top"><p style="margin-left:21.6pt; margin-bottom:0pt; text-align:justify; line-height:normal"><span style="font-family:'Times New Roman', serif; font-variant:small-caps">5</span><span style="font-family:'Times New Roman', serif; font-variant:small-caps">3 (a),</span></p></td><td style="width:29.06%; padding-right:2pt; padding-left:2pt; vertical-align:top"><p style="margin-left:21.6pt; margin-bottom:0pt; text-align:justify; line-height:normal"><span style="font-family:'Times New Roman', serif; font-variant:small-caps">72,</span></p></td></tr><tr style="height:1pt"><td style="width:39.16%; padding-right:2pt; padding-left:2pt; vertical-align:top"><p style="margin-left:21.6pt; margin-bottom:0pt; text-align:justify; line-height:normal"><span style="font-family:'Times New Roman', serif">16,</span></p></td><td style="width:31.8%; padding-right:2pt; padding-left:2pt; vertical-align:top"><p style="margin-left:21.6pt; margin-bottom:0pt; text-align:justify; line-height:normal"><span style="font-family:'Times New Roman', serif; font-variant:small-caps">53 (c),</span></p></td><td style="width:29.06%; padding-right:2pt; padding-left:2pt; vertical-align:top"><p style="margin-left:21.6pt; margin-bottom:0pt; text-align:justify; line-height:normal"><span style="font-family:'Times New Roman', serif; font-variant:small-caps">74,</span></p></td></tr><tr style="height:1pt"><td style="width:39.16%; padding-right:2pt; padding-left:2pt; vertical-align:top"><p style="margin-left:21.6pt; margin-bottom:0pt; text-align:justify; line-height:normal"><span style="font-family:'Times New Roman', serif">17,</span></p></td><td style="width:31.8%; padding-right:2pt; padding-left:2pt; vertical-align:top"><p style="margin-left:21.6pt; margin-bottom:0pt; text-align:justify; line-height:normal"><span style="font-family:'Times New Roman', serif; font-variant:small-caps">53 (d),</span></p></td><td style="width:29.06%; padding-right:2pt; padding-left:2pt; vertical-align:top"><p style="margin-left:21.6pt; margin-bottom:0pt; text-align:justify; line-height:normal"><span style="font-family:'Times New Roman', serif; font-variant:small-caps">75,</span></p></td></tr><tr style="height:1pt"><td style="width:39.16%; padding-right:2pt; padding-left:2pt; vertical-align:top"><p style="margin-left:21.6pt; margin-bottom:0pt; text-align:justify; line-height:normal"><span style="font-family:'Times New Roman', serif">27,</span></p></td><td style="width:31.8%; padding-right:2pt; padding-left:2pt; vertical-align:top"><p style="margin-left:21.6pt; margin-bottom:0pt; text-align:justify; line-height:normal"><span style="font-family:'Times New Roman', serif; font-variant:small-caps">54 (a) (1),</span></p></td><td style="width:29.06%; padding-right:2pt; padding-left:2pt; vertical-align:top"><p style="margin-left:21.6pt; margin-bottom:0pt; text-align:justify; line-height:normal"><span style="font-family:'Times New Roman', serif; font-variant:small-caps">76,</span></p></td></tr><tr style="height:1pt"><td style="width:39.16%; padding-right:2pt; padding-left:2pt; vertical-align:top"><p style="margin-left:21.6pt; margin-bottom:0pt; text-align:justify; line-height:normal"><span style="font-family:'Times New Roman', serif">28,</span></p></td><td style="width:31.8%; padding-right:2pt; padding-left:2pt; vertical-align:top"><p style="margin-left:21.6pt; margin-bottom:0pt; text-align:justify; line-height:normal"><span style="font-family:'Times New Roman', serif; font-variant:small-caps">54 (a) (2),</span></p></td><td sty
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