Wine loopholes closed, less red tape for microbreweries
The Federal Budget will close a loophole which saw some wine producers claiming a producer rebate twice. Closing the loophole is estimated to save $10 million a year for four years, and will apply from July. Under the previous rules, a wine producer might claim the wine equalisation tax rebate then sell the wine to another producer. That producer would then mix the wine with another batch, and claim the rebate again on the entire volume. The Government says the measure “will protect the integrity of the rebate, and address unintended policy outcomes arising where wine is subject to blending and further manufacture”, reports ABC Rural.