The Alethea Jones-helmed movie, which tells the story about friendships and a neighbourhood lemonade stand, took the first prize at the 20th Australian short film festival on Saturday.
Director Alethea Jones admitted that she hoped the honour would lead to more work for her, telling ABC: "I registered for Centrelink two weeks ago, so maybe, maybe I might get a job this year as a director. Maybe. Just one job will be awesome."
Second place went to Boo by Rupert Reid, which also won the 'Crowd Pleaser' award. Third place was won by Michael Noonan for his film Photo Booth.
Celebrities including Nicole Kidman, Toni Collette, Geoffrey Rush, Asher Keddie and Cate Blanchett braved storms in Sydney's Domain to make up the Tropfest judging panel.
The festival's founder John Polson said: "I couldn't believe it, in the pouring rain, that people would stay and watch these films. I was so impressed with the judges that they didn't sort of become divas and want to go home. In some ways it's disappointing when this happens, but it also reminds you how important this is - that even torrential rain isn't going to stop Tropfest."
Last year's Tropfest first prize went to Underbelly actor Damon Gameau and his movie Animal Beatbox, but various film buffs later complained that it was a "rip-off" of another movie.
> AACTA Awards 2012: The major winners
> Geoffrey Rush named 'Australian of the Year'
Read the full list of Tropfest 2012 winners below:
Tropfest First Prize
Lemonade Stand by Alethea Jones
Tropfest Second Prize
Boo by Rupert Reid
Tropfest Third Prize
Photo Booth by Michael Noonan
Telstra Crowd Pleaser
Boo by Rupert Reid
Best Male Actor
Don Reid from Boo
Best Female Actor
Kate McNamara in Kitchen Sink Drama
Women in Film
Marie Patane, director of How Many Doctors Does it Take to Change a Light Bulb?
Telstra Mobile Masterpieces
Jason Van Genderen