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19/07/2005

Kiwis pleased as WET rebate decision passed

New Zealand Winegrowers chief executive officer, Philip Gregan, has welcomed the June announcement that gives New Zealand wine producers exporting to Australia an equalisation tax rebate as “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 said.

The rebate will compensate wine producers in part for the 29% wine equalisation tax (WET) charged on the wholesale price of wine sold in Australia.

Gregan said small-to-medium wineries would mostly benefit from the tax rebate which will give them more dollars for marketing and further investment in their product.