Commonwealth Numbered Acts

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WOOL TAX (NO. 5) AMENDMENT ACT 1980 No. 55 of 1980 - SECT 3

3. Section 5 of the Principal Act is repealed and the following section
subsituted: Rates of tax

"5. (1) The tax imposed on shorn wool exported from Australia is the sum of-

   (a)  an amount of tax equal to such percentage of the sale value of the
        wool as is prescribed for the purposes of this paragraph;

   (b)  an amount of tax equal to such percentage of the sale value of the
        wool as is prescribed for the purposes of this paragraph; and

   (c)  an amount of tax equal to 5% of the sale value of the wool.



"(2) The sum of the percentages that are prescribed from time to time for the
purposes of paragraphs (1) (a) and (b) shall not exceed 3%.". 


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