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Wool tax reduction to start on July.



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HON WARREN TRUSS MP MINISTER FOR AGRICULTURE, FISHERIES AND FORESTRY

29 June 2000 AFFA00/125WT

WOOL TAX REDUCTION TO START ON 1 JULY

The wool tax rate on Australian wool growers will be reduced on 1 July from 4 per cent to 3 per cent in line with results of WoolPoll 2000, the Federal Minister for Agriculture, Fisheries and Forestry, Warren Truss, said today.

Mr Truss said the rate would be further reduced to 2 per cent as soon as practicable after the replacement arrangements for the Australian Wool Research and Promotion Organisation are put in place.

"Woolgrowers will welcome this reduction in wool tax as the first positive step towards reforming their industry," Mr Truss said.

"The wool reform process is well on track to meet the target date of 1 January 2001 for establishing the new arrangements.

"Combined with the New Tax System and the benefits which will be delivered to Australian woolgrowers, the Coalition is continuing to ensure that our rural industries have the best possible climate to grow and expand.

"I would also like to commend the work being done by both the Interim Advisory Board and the Woolgrower Advisory Group in developing the new arrangements for the delivery of wool industry services.

"Their dedication and hard work is helping to ensure we are on target to having the new company arrangements in place by the beginning of next year."

Further inquiries:

Minister's office: Andrew Hall (02) 6277 7520 or 0419 996 766

Last updated 29 June 2000 URL: http://www.affa.gov.au/ Commonwealth of Australia 2000

BROWNHILL TO CHAIR WINE AND BRANDY CORPORATION BOARD

http://www.affa.gov.au/affa/pr/releases/truss/00/00125wt.html [29/06/2000 2:14:11]