Wine Equalisation Tax (WET) is a tax that impacts on manufacturer, importer or wholesaler of wine which levied at flat 29% of the taxable value of wine. This tax gets calculated at the point of last wholesale sale of wine based on the actual sale price, normally between the wholesaler and retailer.
WET is reported and paid as part of the activity statement, the reporting period follows the entity’s Goods and Services Tax reporting period.
Generally, WET applies to beverages listed below:
Grape wine, including sparkling and some fortified wine
Grape wine products (such as marsala)
Fruit wines and vegetable wines
Cider, perry, mead and sake
Producer rebate is available for eligible wine manufacturers providing all requirements from ATO are met. Eligible applicant can be entitled to a credit of the WET amount paid up to $500,000 each financial year.
For more detailed information, please click here
