WET Rebate - FREE SEMINAR Launceston

Tickets $0.00

The Winemakers’ Federation of Australia (WFA) is working with the Australian Taxation Office (ATO) to develop guidance on the key changes before the next vintage.  WFA and Wine Tasmania will be hosting a series of seminars with the ATO and Wine Australia as guest speakers, free of charge, in the following regions:

Hobart, Tuesday 14 November from 1pm - 4pm, at Drysdale House, Collins Street Hobart.
Launceston, Wednesday 15 November from 9.30am to 12.30pm, 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 grant components of the $50 million Export and Regional Wine Support Package and the $10 million Wine Tourism and Cellar Door Grant program.

There are three grants under the Package:

Program 2: Wine Export Grants are offered to small and medium wine exporters for specific export promotion activities aimed at increasing wine exports to China and the US. Applicants will be eligible for grants of up to $50,000 under this program.
Program 3a: Capturing Growth in International Tourism State Grants provide state wine industry associations with access to funding to support a collaborative, strategic approach towards attracting and maximizing international wine tourism.
Program 3b: Capturing Growth in International Wine Tourism Competitive Grants provide a range of stakeholders across Australia with the opportunity to apply for funding, on a competitive basis, towards initiatives that will grow international tourism in wine areas.

More information on the program can be found here.

All of these issues have very important implications and attendance is a must for all businesses. 

The WET Reform Seminars are free of charge.

Details as follows:

LAUNCESTON:

Date: Wednesday, 15 November 2017

Time: 9am - 12 noon.

Venue: Mercure Hotel Launceston, 3 Brisbane Street, Launceston  TAS  7250 (In the Silver Meeting Room).

To register you intention to attend, please click on the Register Now heading below or email Wine Tasmania with the name(s) of attendees.

Event Registration