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Economic Development Minister David Carter and Customs Minister Maurice Williamson today announced changes to wine excise tax regulations which will benefit more than half the country’s wineries.
From 1 July, thresholds for the payment of excise tax will lift tenfold, allowing smaller wineries to shift from monthly payments to six-monthly or yearly payments.
Currently, only wineries with a tax liability of less than $10,000 are exempted from paying monthly. The new thresholds are:
- David Carter
- Maurice Williamson
- Customs
- Economic Development