Bank Notes Tax Act 1910
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(Redirected from Australian Notes Act 1910)
| Bank Notes Tax Act 1910 | |
|---|---|
Private currency issued by the City Bank of Sydney c. 1900
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| Parliament of Australia | |
| Date assented to | 10 October 1910 |
| Date repealed | 21 August 1945 |
| Status: Repealed | |
The Bank Notes Tax Act 1910 was an Act of the Parliament of Australia which imposed a prohibitive tax on banknotes issued by banks.[1][2] Along with the Australian Notes Act 1910 it effectively ended the use of private currency in Australia.
The Act imposed an annual tax of 10% on "all bank notes issued or re-issued by any bank in the Commonwealth after the commencement of this Act, and not redeemed."[2]
The Act was repealed by the Commonwealth Bank Act 1945,[3] and a fine for issuing private currency imposed.
See also
References
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