In line with expectations, Wine Australia recorded an operating deficit of $376,758 for 2019–20.
Our revenue comes from two main sources: winegrape growers, processors and exporters who pay statutory levies, and the Australian Government, which matches levies invested in eligible R&D activities.
There are three levies: the Wine Grape Levy and the Grape Research Levy, which are based on winegrape production, and the Wine Export Charge, which is based on the FOB value of wine exports.
Approximately 28 per cent ($18.8 million) of 2019–20 revenue came from the 2 levies and the Wine Export Charge and 20 per cent of revenue ($13.5 million) from the Australian Government matching contributions.
Revenue from regulatory fees made up 8 per cent ($5.4 million) of income, and activity-based user-pays wine sector contributions to marketing activities made up 1 per cent ($0.5 million) of total revenue for 2019–20.
The $50m Package made up 26 per cent ($17.4 million) of total revenue for 2019–20; this was made up of grant income, interest earned and sector contributions.
Net assets were $21.0 million at 30 June 2020 and financial assets were $17.4 million, all of which was cash or term deposits other than receivables of $2.4 million. Payables were $2.2 million.
Full details of our finances are included in the Financial Statements section of this report.