In 1936, at the request of the Australian Wool Growers Council, a wool tax was imposed to help the production of wool and to extend the use of wool throughout the world. It was levied at 6d (about 5c) per bale on all sales of shorn wool produced in Australia.
Net amount payable
The total amount required to be paid to the ATO. It includes an individual's tax payable and their Medicare levy (if applicable), less any credits for tax offsets and PAYG amounts.read more glossary terms