WET reforms increase value of Australian trade marks
Owning a registered trade mark conveys many benefits for any business – the exclusive right to use a brand, legal protection against imitation, and an intangible asset for licencing or sale among others. However, a recent announcement by the Australian government will confer a new benefit on holders of one class of Australian trade marks – an exclusive tax rebate. The Wine Equalisation Tax rebate is a measure enforced by the Australian Government to support local wine makers in regional Australia. A tax of 29% is imposed on wholesale wine sales in Australia, but up until now, all ‘producers’ of wine have been eligible for a rebate.