WE don’t call ourselves experts, however there would be few accountants in Western Australia with such knowledge and experience in the Wine Industry like Robert Prior, Lincolns partner. Robert looks after many wineries in the Great Southern and South West wine regions, from small vineyards to large wineries. He maintains a constant review of any proposed changes in the industry and advises clients accordingly in a proactive manner.
A unique industry facing many complexities from a taxation perspective, the wine sector is often found to be incorrectly calculating WET, and not calculating full entitlements to the WET Producers Rebate. Lincolns checks to ensure that clients are getting it right so as to maximise rebate claims.
Lincolns has developed detailed spreadsheets and calculations to assist with accurate stock record keeping using the full absorption costing method to assist in the calculation of true cost per case of wine. This enables the discussion of maximisation of gross margins. We also assist with winery sales or succession so as to minimise taxation and transfer duty consequences.