Name: Hugh
Email:
Web Site: http://doubtlesswinebusiness.wordpress.com/
Bio: BA, LLB. Hugh operates as a strategic and financial adviser with Doubtless Strategic Limited. His background includes 8 years as a financial analyst and 15 years in corporate finance roles. His work encompasses a wide range of advice from business strategy, valuations and regulatory impacts to M&A and capital raising transactions. He works most closely with businesses in infrastructure and other capital intensive industries, the technology sector, and in the wine industry. He has published articles and presented to industry conferences over the last 20 years. In more recent times he has also become closely interested in issues affecting the not for profit and charities sector. Tel: +64 21 632021.
Posts by Hugh Ammundsen:
A Clayton’s Reform?
June 16th, 2011Over recent weeks two announcements have been made with regard to excise arrangements for wine. The excise rate for all alcoholic beverages will increase from 1 July by 4.5%, in line with the annual increase in the CPI to March 2011. The second announcement was a change in the thresholds affecting the timing of excise payments. This meant that the threshold at which wineries would be able to pay their excise liability annually (instead of monthly) would increase from $10,000 per annum to $50,000 per annum. From a practical perspective this was meant to reduce compliance costs and change the cash flow position whereby smaller wineries are often paying excise before they actually receive payment for wine sales. Or at least that was the intention.
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Mixed entity, confused identity?
April 14th, 2010I suspect all practitioners with clients selling businesses at some time ask the fundamental question: just who (what entity) is selling what (shares, assets, contractual interests, licences, etc). Most of the time this may not be a difficult matter to sort out – the nature of the consequences of selling one type of interest as opposed to another are usually relatively clearcut. Recent experiences in relation to two wine businesses have highlighted that this can be more complicated, however, with sometimes unforeseen consequences.
The Still Whine
March 23rd, 2010As a first port of call on the subject of the taxation of the wine industry I felt obligated to touch on the issue that, more than any other issue, makes winemakers whine: excise.
Until 1 July this year, and bearing in mind that the retail price of most wines remains under extreme pressure owing to discounting, approximately $2.15 of the price of each 750ml bottle of wine purchased in a wine shop, supermarket, bar, restaurant, cellar door or online retailer will be attributable to excise.
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