Major winemaker threatens to move business overseas if tax changes go through
Taylors Wines, a major South Australian winemaker, is considering relocating its business overseas due to proposed tax changes. The federal budget includes a 30 percent minimum tax on discretionary trusts and capital gains, which could significantly impact the wine industry. Mitchell Taylor, the managing director, expressed concerns that these changes would hinder competitiveness and growth in the sector.
- ▪Mitchell Taylor of Taylors Wines stated he would seriously consider moving the business internationally if tax changes are implemented.
- ▪The federal budget proposes a 30 percent minimum tax on discretionary trusts and capital gains.
- ▪Taylor emphasized that Australia is already the highest taxed wine-producing country in the world.
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Taylors Wines threatens to move SA business overseas if tax changes go throughBy Isabella Kelly and Eugene BoisvertABC RuralTopic:TaxFri 29 May 2026 at 2:02pmFri 29 May 2026 at 2:02pmFri 29 May 2026 at 2:02pmProposed tax changes could be the final straw for one major South Australian winemaker. (Supplied: Facebook/Taylors Wines)In short:Mitchell Taylor of Taylors Wines says he would "seriously have to consider" moving the business internationally if proposed tax changes go through. The federal budget included a 30 per cent minimum tax on both discretionary trusts and capital gains.What's next?The changes are expected to come into effect in the next two years.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at ABC News (Australia).