Wine Equalisation Tax (WET) for producers + wholesalers
WET at 29% on wine wholesale value; rebate scheme up to $350K per producer.
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Who must comply
Wine producers + wholesalers.
What triggers it
Wholesaling wine in Australia.
When due
Per BAS cycle.
Evidence required
WET calculations; producer rebate claim; wholesale records.
Max penalty
Failure-to-lodge + shortfall penalties
Summary
A New Tax System (Wine Equalisation Tax) Act 1999. WET 29% on wholesale value of wine in Australia. Producer rebate up to $350K per producer. Lodged via BAS quarterly or monthly per assignment.
Enforced by
Industries
Topics
taxwetwine
Related obligations
- CWLTHAustralian Business Number (ABN) applicationEntities carrying on an enterprise in Australia need an ABN — without one, payers must withhold 47% PAYG from your payments. How to apply and who's eligible.
- CWLTHLodge Business Activity Statements at assigned frequencyGST-registered entities must lodge a BAS monthly, quarterly or annually as the ATO assigns.
- CWLTHMake trustee resolutions for trust distributions by 30 JuneDiscretionary trust trustees must validly resolve to distribute trust income before the end of the FY.
- CWLTHWithhold PAYG from employee and contractor paymentsEmployers must withhold tax from wages, certain contractor payments + report via STP / BAS.
- CWLTHPay company PAYG/GST/SG or face Director Penalty Notice (DPN)Directors personally liable for unpaid company PAYG, GST + SG via DPN regime.
- CWLTHTASA Code Determinations from 1 August 2024Tax practitioner code reformed via Code Determinations — false + misleading statements + supervision + breach reporting.
Frequently asked questions
- Who must comply with Wine Equalisation Tax (WET) for producers + wholesalers?
- Wine producers + wholesalers.
- What triggers Wine Equalisation Tax (WET) for producers + wholesalers?
- Wholesaling wine in Australia.
- When is Wine Equalisation Tax (WET) for producers + wholesalers due?
- Per BAS cycle.
- What is the maximum penalty for Wine Equalisation Tax (WET) for producers + wholesalers?
- Failure-to-lodge + shortfall penalties
- What evidence is required for Wine Equalisation Tax (WET) for producers + wholesalers?
- WET calculations; producer rebate claim; wholesale records.
Source: https://ato.gov.au/businesses-and-organisations/gst-excise-and-indirect-taxes/wine-equalisation-tax. Rules Mate is not a law firm. Always verify against the live regulator source before acting.