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Wineries' tax rebate to stay
22 Jul 2004
New South Wales is set to follow Victoria in keeping a tax rebate for the wine industry, following intense lobbying by the industry. The NSW Treasurer met wine industry representatives this week and gave in-principle support for the retention of a state-administered tax rebate. This will ensure no winery is worse off under changes announced by the Federal Government in its Budget earlier this year. The Government introduced a new scheme that increased the number of wineries that would pay no wine equalisation tax, or WET, but also abolished a 15 per cent state-administered federal subsidy. Larger wineries could have been up to several hundred thousand dollars worse off under the changes.
Victoria's and NSW's move increases pressure on other states to fall in line, thereby creating a national tax rebate system. The Winemakers' Federation supports the retention of the state-administered subsidy.
Australian Financial Review, 22/7/04.
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