Please enter your details below to login to our secure client area. If you would like to register for access, click here.
Username:
Password:
Business Services, Audit & Assurance, Superannuation, Weston Woodley & Robertson, Sydney , NSW, Australia
  • Image
    Going beyond the numbers
    Read more about Going beyond the numbers
  • Image
    Innovative IT solutions for your business
    Read more about Innovative IT solutions for your business
  • Image
    Your future, the right career choice
    Read more about Your future, the right career choice
  • Image
    Local advisors with international connections
    Read more about Local advisors with international connections
  • Image
    Building relationships
    Read more about Building relationships

Tax Facts - Wine Equalisation Tax

Wine Equalisation Tax (WET) is a tax on wine levied at 29% of the taxable value of wine. The taxing point is the last wholesale sale, or a retail sale or application for own use (e.g. tastings) when there is no wholesale sale. The taxable value is the actual sale price (excluding WET and GST) for wholesale sales, or a notional equivalent value in the other situations.

WET affects wine manufacturers, wholesalers, and importers. Retailers do not have a WET liability unless they make their own wholesale wine. WET is paid as part of the entity's activity statement, the tax period is the same as the entity's tax period for GST (which may be monthly, quarterly or annually).

The Producer Rebate scheme entitles wine producers to a rebate of WET for up to $500,000 of domestic sales each financial year. There is a modified producer rebate scheme for New Zealand wine producers.

Generally, WET is included in the price that retailers such as bottle shops and restaurants pay when purchasing wine. The retailer is not entitled to claim back the cost of the WET, as the WET is built into the price the retailer pays and then passed on to the consumer.

WET applies to the following alcoholic beverages:

  • Grape wine (including sparkling and fortified wine, marsala, vermouth, wine cocktails, and creams)
  • Other fruit wines and vegetable wines (including fortified fruit and vegetable wines)
  • Cider and perry
  • Mead (including fortified mead) and sake

MORE: See the ATO web site for more information on Wine Equalisation Tax and for instructions on filling out the WET section of the Activity Statement.

Phone: (02) 9264 9144 | gmn@wwr.com.au | Suite 3, Level 1, 15 Blue Street, NORTH SYDNEY NSW 2060
Latest News
News
Online Calculators
calcs View our collection of easy to use online calculators...

View Calculators >>
Tax Facts
Tax A guide to all the latest tax facts and statistics...

View Tax Facts >>
Key Dates
Key Dates All the key dates and deadlines of the financial year...

View Key Dates >>
Useful Links
Links Looking for accounting/business related links?

View Useful Links >>
  CA    Xero      Copyright Weston Woodley & Robertson © | Disclaimer | Privacy PolicySite Map
Online software for accountants by Wolters Kluwer