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.
How good do you think you are at judging what is allowed as a deduction?
You are allowed to reduce your assessable income by claiming allowable deductions. Test your knowledge about deductions by answering the questions.
|Task B3.1 Reducing your tax|