NORTH East Victorian wine producers have welcomed the federal government’s changes to the Wine Equalisation Tax rebate (WET).
The reformed system is designed to help vignerons and foster wine development and associated tourism in regional Australia.
Changes to take effect from July 1, 2018, include:
Lowering the WET rebate which can be claimed by eligible producers from $500,000 to $350,000.
Redefining an eligible producer as a person or entity which owns 85 per cent of grapes at the crusher used to make wine and who or which maintains ownership throughout the winemaking process.
Limiting the rebate to branded, packaged wine, in a container not exceeding five litres which carries a registered trademark for domestic retail sale.
Cathy McGowan (MHR, Indi) welcomed the federal government’s changes to the WET – announced on December 2.
Ms McGowan said Indi vignerons were included in a national consultation in recent weeks led by Ministers Kelly O’Dwyer and Anne Ruston.