AWB Limited’s Chief Executive, Andrew Lindberg, today announced that AWB would move to quote all grain prices GST exclusive.
Mr Lindberg said after extensive consultation with growers and grower organisations, the company had agreed to revise its pricing policy.
Mr Lindberg stated that despite widespread agreement from other grain industry bodies last year to quote prices inclusive and develop an industry standard; most grain prices, apart from at the silo, were quoted exclusive of GST or were quoted both exclusive and inclusive of GST.
“Initially, our major aim was to create an industry standard and while we did have agreement from many other industry organisations, prices have generally been quoted exclusive, or both,” said Mr Lindberg.
“Growers have told us that it is imperative for them to be able to compare prices with other grain marketers, and to have consistency. It was important that we listened to growers and revise our policy to make these comparisons easy.
“Growers have also said it is easier for them to calculate their costs and work out a site price if GST is not included in the price.
“We were pleased that growers forwarded their concerns to us and we are happy to provide them with a revised pricing structure that will simplify their grain marketing arrangements,” said Mr Lindberg.
As of 1 July all AWB grain prices, including pool estimates, daily multi-grade prices and all contracting prices will be published GST exclusive. GST will be separately identified.
Growers who are registered for GST should note that in accordance with normal business tax requirements all their cash and quarterly payments will include GST, which is to be remitted to the Australian Taxation Office, according to individual tax requirements.
For further information growers should contact AWB’s Grower Service Centre on 1800 054 433 or their local AWB area office.
For further information contact:
Peter McBride in AWB Public Affairs on (03) 9209 2174 or 0417 662 451