Is the new budget the end for small wineries in Australia?
We have seen increased activity from many lobbying groups in the past weeks – all fearing that their respective businesses might have to bear a heavy load when the federal government presents the new budget for Australia today.
The Winemakers’ Federation made their position clear: a change to the taxation rules to bring it into line with other alcoholic drinks could raise an extra $630 million for the Government, but at the cost of 5,300 mostly rural jobs. The fear is that wine, which is now taxed under the wine equalisation tax (WET) – a 29 per cent tax on the wholesale value of the product – would have to be started to be taxed based on its alcohol content. That would bring it in line with the taxation of beer and spirits here Down Under.
The WET is aimed at providing a protection for the mostly smaller wine producers throughout Australia. Most of them already struggle to cope with the current wine glut in global wine markets, for them such a decision tonight would be devastating.
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Heute wird in Australien das neue Jahresbudget praesentiert; jenes ist heiss erwartet, denn die Wirtschaftssituation hier Down Under ist so schlecht wie seit mehr als 60 Jahren nicht mehr. Ein besonderes Risiko besteht fuer die kleineren Winzer, die bislang ihre Weine anders besteuert bekommen, als die Bier oder Spirituosenhersteller. Wir halten Sie auf dem Laufenden.
Michael Brecht
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