NEWS: Wine tax rorts exposed

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NEWS: Wine tax rorts exposed

Postby StarNews » Fri Aug 14, 2015 10:55 am

Wine tax rorts exposed
Adele Ferguson for AFR
Aug 10 2015


Assistant Treasurer Josh Frydenberg is set to throw an accelerant on a debate in the wine industry with the release of a discussion paper into the wine equalisation tax (WET) rebate.

It is understood that the discussion paper, to be released within the next two weeks, will not make any recommendations but will include case studies that show how the WET rebate is being manipulated and rorted.

It will include studies of virtual winemakers who don't own vines, production facilities or the wine but have managed to create a structure that enables them to access the $500,000-a-year tax rebate.

Dozens of companies are believed to have created artificial constructs to access the rebate. The rebate is also distorting supply and demand.

http://www.afr.com/business/agriculture ... 809-giuy04
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