Recent changes to the Wine Equalisation Tax rebate will impact on ALL Tasmanian wine businesses. To help businesses understand the details of these changes, the Australian Tax Office will be presenting a free seminar in Launceston, with representatives of the Winemakers' Federation of Australia and Wine Australia also in attendance.
View Wine Tasmania's updates and submissions on this important issue here (you'll need your member login - get in touch if you 've misplaced these details).
Two workshops will be held in Tasmania:
- Hobart, Tuesday 14 November from 1.00pm - 3.30pm, at Drysdale House, Hobart.
- Launceston, Wednesday 15 November from 9.30am - 12.00pm, at The Mercure Hotel, Launceston.
The ATO will provide guidance on key issues arising from the legislative changes, including:
- Demonstrating proof of grape ownership: To be eligible to claim the WET rebate, ownership of the grapes will mean that some form of contract must be in place at the weighbridge (prior to crushing). This may take the form of an exchange of letters, but a more formal contract is likely to provide more surety.
- Required record-keeping: The ATO will require record keeping to demonstrate ownership of the grapes from the crusher through to the final product.
- Implications for contractual arrangements: Retention of title clauses may mean that ownership does not pass to the grape purchaser at the weighbridge. Therefore, such clauses may not satisfy WET eligibility requirements.
- Distributor model implications: Some distribution models will require different payment forms. For example, if a producer sells to a distributer, they can quote, but if that distributer on-sells to a further distributer, no rebate will be available, but WET will be payable.
- Trademark requirements: Although the intention in the legislation is for ‘parent’ trademarks to cover all the associated trademarks for the eligibility provisions, this needs to be clarified in the ATO guidance.
- Transitional arrangements: The transitional provisions are complex and require clear guidance on the treatment of existing bottled product and that in barrels, as well as the differences applying to table and fortified products.
In addition, Wine Australia has agreed to provide an information briefing on the $50 million Export and Regional Wine Support Package and the $10 million Wine Tourism and Cellar Door Grant program.
Details as follows:
Date: Wednesday, 15 November 2017
Time: 9.30am to 12.00pm
Venue: Mercure Hotel Launceston, 3 Brisbane Street, Launceston TAS 7250 (In the Silver Meeting Room).
To register your attendance, please click on the Event Registration heading below or email Wine Tasmania with the name(s) of attendees.