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  • WET credits for wine sold before 1 July 2018

    You can claim Wine Equalisation Tax (WET) credits, including the WET producer rebate, for 2017 and earlier vintage wine sold or dealt with before 1 July 2018.

    2017 and earlier vintage wine is wine where more than 50% of the grapes used to make the wine were crushed before 1 January 2018.

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    WET credits

    You're entitled to a WET credit for 2017 or earlier vintage wine sold or dealt with before 1 July 2018 if you:

    • paid WET in error or overpaid WET – for example, you're a wholesaler sells wine and pays WET, but you subsequently allow a settlement discount
    • are liable to pay WET on wine that has already had WET paid on it
    • didn't quote your ABN when you purchased wine and the price you paid included WET, even though you were entitled to quote
    • sold wine (on which WET had been paid) to someone who quoted an ABN and the WET amounts aren't passed on in the selling price
    • exported wine (on which WET had been paid) – for example, you are a retailer who purchases wine at a price that includes WET and subsequently export the wine
    • wrote off bad debts that included WET you had paid
    • are entitled to the wine producer rebate.

    You're only entitled to a WET credit if you or someone else has not already been entitled to claim a credit for that WET amount.

    Producer rebate

    Before 1 July 2018, the maximum producer rebate amount that you could claim each financial year was $500,000.

    You're eligible for the WET producer rebate for 2017 or earlier vintage wine sold or dealt with before 1 July 2018 if you are:

    • the producer of the wine
    • liable to pay WET on the wine or have sold the wine under quote and the purchaser declared in the quote that they will not make a GST-free supply of the wine.

    You do not need to have owned the source product for the wine. If you manufacture wine using wine as an input, you must reduce your claim by any earlier producer rebate amounts claimed for that wine.

    See also:

      Last modified: 30 Aug 2018QC 56717