Double wool clips



This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

End of attention

Tax relief is available in relation to the proceeds of the sale of two wool clips arising in an income year because of an early shearing caused by drought, fire or flood.

A wool grower can elect to defer the profit on the sale of the clip from the advanced shearing to the next year.

Last modified: 09 Feb 2006QC 27451