WOOL TAX (NO. 1) REGULATIONS (AMENDMENT) 1991 NO. 209 

WOOL TAX (NO. 1) REGULATIONS (AMENDMENT) 1991 NO. 209 
- TABLE OF PROVISIONS

1.    Commencement  
2.    Amendment  
3.    Regulation 3 (Prescribed lower rate of tax)  


1991 No. 209 WOOL TAX (No. 1) REGULATIONS (AMENDMENT)
- REG 1
1.   Commencement


  1.1   These Regulations commence on 1 July 1991.


1991 No. 209 WOOL TAX (No. 1) REGULATIONS (AMENDMENT)
- REG 2
2.   Amendment


  2.1   The Wool Tax (No. 1) Regulations are amended as set out in these
Regulations.


1991 No. 209 WOOL TAX (No. 1) REGULATIONS (AMENDMENT)
- REG 3
3.   Regulation 3 (Prescribed lower rate of tax)


  3.1   Omit the regulation, substitute:
Rate of tax
 "3. (1)  For the purposes of paragraph 5 (1) (b) of the Act, the rate of tax
for the financial year commencing on 1 July 1991 that is applicable to shorn
wool (other than carpet wool) on which the tax is payable is 12% of the sale
value of the wool.
 "(2) For the purposes of paragraph 5 (2) (b) of the Act, the rate of tax for
the financial year commencing on 1 July 1991 that is applicable to carpet wool
on which the tax is payable is 3% of the sale value of the wool.".


- NOTES


1991 No. 209*1* WOOL TAX (No. 1) REGULATIONS*2* (AMENDMENT)



*1*Notified in the Commonwealth of Australia Gazette on 28 June 1991.
*2*Statutory Rules 1987 No. 143 as amended by 1990 No. 193.