NZ Winegrowers Pleased With Oz Tax Legislation
Wednesday 22 June 2005
New Zealand Winegrowers Pleased With Australian Tax Rebate Legislation
New Zealand Winegrowers Chief Executive Officer Philip Gregan says today's announcement, giving New Zealand wine producers who export to Australia an equalisation tax rebate, is great news for the industry.
"We are very pleased with this result and the support the wine industry has received from ministers and government departments.
"The impact of this decision will mean a substantial boost for wine exporters to Australia," he says.
The rebate will compensate wine producers in part for the 29 percent wine equalization tax charged on the wholesale price of wine sold in Australia.
Mr Gregan says small to medium wineries will mostly benefit from the tax rebate which will give them more dollars for marketing and further investment in their product.