The Coalition Government has released the Wine Equalisation Tax (WET) Rebate Discussion Paper.
The WET Rebate was introduced in 2004, providing rebates of up to $500,000 per year to support the wine industry by reducing, and in some cases eliminating, WET obligations.
Since then, the amount of WET rebates claimed has increased, and the circumstances in which the rebate is claimed have extended beyond what was originally intended.
Federal Member for Pearce, Christian Porter, has welcomed the Discussion Paper, which seeks specific feedback on the operation of the WET Rebate.
“The wine industry is an important contributor to the Australian economy, and an important part of the Pearce community in particular,” Mr Porter said.
“This process should deliver a pragmatic and workable solution to preserve the integrity of Australia’s tax system as well as strengthening Australia’s world leading wine industry.
“I encourage wine producers in Pearce to have their say on the WET Rebate and make suggestions about how we can sustainably support the wine industry now and into the future.”
The Consultative Group includes senior representatives from industry who have specialist knowledge and are broadly representative of Australia’s wine making regions.
Mr Porter congratulated the appointment of Mr Larry Jorgensen from Wines of Western Australia as a Consultative Group representative and will be continuing to discuss this important project with Mr Jorgensen as the consultation phase progresses.
“I am very pleased that the Coalition Government has established the WET Rebate Consultative Group, which will consider submissions and provide advice to the Government later this year on options for reform,” Mr Porter said.
“The wine industry is one of Western Australia’s greatest success stories, so I am very glad that Mr Jorgensen will be representing the interests of our region during the consultative process.”