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Emerging tax issues for wineries and viticulture paper

Published on 20 Aug 08 by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE

In an environment of increasingly uncertain market conditions, further rationalisation and consolidation of the wine industry is anticipated. Many producers will need to consider off-loading surplus assets whilst others will be looking to refocus their branding and take advantage of the prevailing conditions to improve market share. This paper reviews some of the significant tax issues that are likely to arise in this ever changing industry and reflects on the presenter's recent experience in dealing with winery acquisitions, sales and restructures. Topics covered include:

  • specific CGT and capital allowance issues relating to vineyard sales
  • tax issues relating to label and wine IP
  • update on the taxation treatment of water licences
  • WET developments.

Author profile:

Author Photo - Peter Slegers CTA
Peter Slegers CTA
Peter is a Partner at Cowell Clarke and heads up the firm's Tax & Revenue Group. He provides specialist tax advice to public accountants and a wide range of corporate and medium to large family businesses as well as high net worth taxpayers. Peter has had a significant involvement with trust structures throughout his career and is the author on topical tax issues in CCH Tax Week and Taxation in Australia. Peter has a Master's degree in Taxation Law and is a member of The Tax Institute's State Council. Current at 01 February 2016 Click here to expand/collapse more articles by Peter SLEGERS.
 

This was presented at Agribusiness Intensive.

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