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Thursday, 30 April 1987
Page: 2244


Mr BARRY JONES (Minister for Science)(10.43) —I move:

That the Bills be now read a second time.

The purpose of the Wool Tax (No. 1) Amendment Bill 1987 is to amend the Wool Tax Act (No. 1) 1964. At present the Act provides for the imposition of a tax on the sale value of shorn wool sold by a wool broker.

This Bill is one of five Wool Tax Amendment Bills, each dealing with a different method of selling shorn wool. It provides for an increase in the maximum rate of wool tax to 10 per cent and for a minimum rate of wool tax of 5.25 per cent being equal to the sum of the minimum rates of apportionment of the wool tax specified in the Wool Marketing Bill 1987. I have already outlined the background to this amendment in my second reading speech on the Wool Marketing Bill 1987. The Bill involves no additional financial cost to the Government.

The purpose of the Wool Tax (No. 2) Amendment Bill 1987 is to amend the Wool Tax Act (No. 2) 1964. At present the Act provides for the imposition of a tax on the sale value of shorn wool purchased by a registered wool dealer from a person other than a wool broker. This Bill is one of five Wool Tax Amendment Bills, each dealing with a different method of selling shorn wool. It provides for an increase in the maximum rate of wool tax to 10 per cent and for a minimum rate of wool tax of 5.25 per cent being equal to the sum of the minimum rates of apportionment of the wool tax specified in the Wool Marketing Bill 1987. I have already outlined the background to this amendment in my second reading speech on the Wool Marketing Bill 1987. The Bill involves no additional financial cost to the Government.

The purpose of the Wool Tax (No. 3) Amendment Bill 1987 is to amend the Wool Tax Act (No. 3) 1964. At present the Act provides for the imposition of a tax on the sale value of shorn wool purchased by a manufacturer from a person other than a wool broker or a registered wool dealer. This Bill is one of five wool tax amendment Bills, each dealing with a different method of selling shorn wool. It provides for an increase in the maximum rate of wool tax to 10 per cent and for a minimum rate of wool tax of 5.25 per cent being equal to the sum of the minimum rates of apportionment of the wool tax specified in the Wool Marketing Bill of 1987. I have already outlined the background to this amendment in my second reading speech on the Wool Marketing Bill 1987. The Bill involves no additional financial cost to the Government.

The purpose of the Wool Tax (No. 4) Amendment Bill 1987 is to amend the Wool Tax Act (No. 4) 1964. At present the Act provides for the imposition of a tax on the sale value of shorn wool subjected by a manufacturer to a process of manufacture. This Bill is one of five wool tax amendment Bills, each dealing with a different method of selling shorn wool. It provides for an increase in the maximum rate of wool tax to 10 per cent and for a minimum rate of wool tax of 5.25 per cent being equal to the sum of the minimum rates of apportionment of the wool tax specified in the Wool Marketing Bill of 1987. I have already outlined the background to this amendment in my second reading speech on the Wool Marketing Bill 1987. The Bill involves no additional financial cost to the Government.

The purpose of the Wool Tax (No. 5) Amendment Bill 1987 is to amend the Wool Tax Act (No. 5) 1964. At present the Act provides for the imposition of a tax on the sale value of shorn wool exported from Australia. This Bill is one of five wool tax amendment Bills, each dealing with a different method of selling shorn wool. It provides for an increase in the maximum rate of wool tax to 10 per cent and for a minimum rate of wool tax of 5.25 per cent being equal to the sum of the minimum rates of apportionment of the wool tax specified in the Wool Marketing Bill of 1987. I have already outlined the background to this amendment in my second reading speech on the Wool Marketing Bill 1987. The Bill involves no additional financial cost to the Government. I commend these Bills to honourable members, and I table the explanatory memorandum.

Debate (on motion by Mr Spender) adjourned.