Taylors Wines threatens overseas move over proposed federal tax changes
By
Isabella Kelly, Eugene Boisvert
Crusty in the right places. Worth the chew.
Summary
Taylors Wines, a major South Australian winemaker, is threatening to move its business overseas if the federal government's proposed tax changes go through. The federal budget includes a 30% minimum tax on discretionary trusts and capital gains. Third-generation winemaker Mitchell Taylor stated the business would "seriously have to consider" leaving Australia if the changes take effect, citing the existing Wine Equalisation Tax (WET) and GST as already burdensome.
Key quotes
· 2 pulledIf the changes came into effect, the business would 'seriously have to consider' moving out of Australia.
We've got the 29 per cent [Wine Equalisation Tax] WET and then the GST on top of that. So we've effect
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