Wine equalisation tax payable
The wine equalisation tax (WET) payable gap is the difference between the estimated amount of WET payable according to the law (theoretical WET payable) and actual WET payable (as represented on the BAS) for a defined period, typically a financial year.
The gap estimate does not include the WET producer rebate.
Our broad approach to estimating the gap
We adopt a top-down methodology to estimate the tax gap, using external data sources, such as:
- ABS data on domestic sales and imports of wine.
- ABS data on shipments by Australian winemakers and importers
- ABS Consumer Price Index and National Accounts data
- IBISWorld industry reports.