Wine Victoria Welcomes $4.1 Million State Budget Funding

Written by  Angela Scicluna Wednesday, 02 May 2018

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This week, the state budget was tabled in Parliment by Victorian Treasurer, the Hon Tim Pallas, outlining the state's priorities for the next four years.

As part of the 2018/19 budget, $4.1 million was allocated towards the wine industry.

Wine VictoriaWine Victoria Chair, Ms Angie Bradbury said the industry was delighted the Victorian Government and Minister for Agriculture and Regional Development the Hon Jaala Pulford, had once again recognised the benefits of investing in the world-class potential of Victorian grape growers and winemakers.

The funding forms part of the Growing Agriculture Exports, Farms and Tourism initiative and aims to help the industry develop new products and markets. The wine specific funding will be allocated towards:

"The programs clearly signify the government’s recognition of the $7.6 billion contribution that our industry makes to Victoria's bottom line every year,” Ms Bradbury said.

"We look forward to working with the government on implementing these important projects" added Ms Bradbury.

In addition to wine specific funding, the budget also makes allocations for the following programs impacting winemakers and growers:

  • The young farmer stamp duty-free threshold on properties valued up to $600,000 (for settlements from 1 July 2018);
  • Further reduction to the payroll tax for businesses located in regional Victoria, decreasing the tax from 3.65% down to 2.45%;
  • Boosting regional tourism, with $51.1 million for international and interstate tourism campaigns, including support for Business Events Victoria and regional tourism boards; and 
  • The $30 million Pick My Project fund.