• Wine equalisation tax (WET)

    Wine equalisation tax (WET) only applies to wine manufacturers, wholesalers, and importers. Retailers do not have a WET liability unless they make wholesale sales or bottle their own wine.

    WET is a tax based on the value of wine. WET applies at 29% of the value of the wine at the last wholesale sale (before adding GST).

    If you report and pay GST using a pre-determined instalment amount (option 3 on the business activity statement [BAS]), don't complete the WET section of your BAS. We have included your WET in this amount. You'll still need to report WET payable (1C) and WET refundable (1D) when lodging your Annual GST Return. This is due at the same time as your income tax return.

    If you report and pay GST annually you are not required to report WET on monthly or quarterly BASs, however you must report WET on your Annual GST Return.

    Next steps:

    Lodge your BAS

     

     

     

    Last modified: 10 Dec 2014QC 33703