The Turnbull Government has announced further changes to the Wine Equalisation Tax (WET) Rebate to benefit grape growing, winemakers and associated tourism in Australia.
The WET Rebate was initially put in place to support small wine producers, particularly those in rural and regional Australia. However, it has been taken advantage of with some growers abusing the system to maximise their Rebate, resulting in the excessive production of wine grapes and low value wine.
The government has agreed to overhaul the Rebate in light of this misuse and exploitation. It will no longer be available to unlabeled producers, who are blamed for the influx of cheap bulk wine.
The new changes will be implemented to protect the integrity of the WET Rebate scheme and to benefit the small business owners and producers who need it the most.
The key changes include:
The new eligibility criteria will apply from 1 July 2018.
If you have any questions regarding the changes feel free to give Jacob Lea a call on 03 5443 0344 or find more information at: Fact Sheet – Wine Equalisation Tax Rebate Changes