2 Jun 2011

Winery excise tax payment rules changed

1:47 pm on 2 June 2011

The Government has revised the excise tax rules for wine companies, saying it will reduce the regulatory burden on smaller firms.

Economic Development Minister David Carter says that, at present, wineries other than those with an excise tax liability of less than $10,000 must pay the tax monthly.

From 1 July, only those that have a tax bill of more than $100,000 will need to pay monthly.

Mr Carter says companies with excise tax of between $50,000 and $100,000 will pay every six months, and those with a bill of under $50,000 are able to pay annually.

He says the wine industry earns over $1 billion in exports a year and shouldn't be hobbled by unnecessary red tape and officialdom.