Wine Equalisation Tax (WET) for producers + wholesalers
WET at 29% on wine wholesale value; rebate scheme up to $350K per producer.
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
Who must comply with this? The applicability test by industry, business structure and size.
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
Related
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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.