delete Wool Tax (No. 1) Regulations (Amendment)
The Wool Tax (No. 1) Regulations (Amendment) amends the Wool Tax (No. 1) Regulations, which impose a levy on wool sales in Australia. The tax is administered by the Australian Wool Reserve Bank and funds industry activities, creating a compliance burden for woolgrowers, brokers, and processors.
The wool tax distorts market signals, imposes deadweight losses, and adds administrative costs that reduce competitiveness. It interferes with voluntary exchange, penalizes productivity, and duplicates functions that private markets can perform more efficiently. Repealing it would lower transaction costs, increase returns to producers, and allow market-driven coordination of the wool industry.