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  • WET credits

    Whether you can claim a WET credit depends on the vintage of the wine and when the wine was sold or dealt with. You need to determine whether your wine is:

    2017 or earlier vintage wine sold or dealt with before 1 July 2018

    You're entitled to a WET credit if you:

    • paid WET in error or overpaid WET – for example, a wholesaler sells wine and pays WET, but subsequently allows 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, a retailer purchases wine at a price that includes WET and subsequently exports 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.

    2017 and earlier vintage wine sold or dealt with from 1 July 2018

    You're entitled to a WET credit if you:

    • paid WET in error or overpaid WET – for example, a wholesaler sells wine and pays WET, but subsequently allows a settlement discount
    • are liable to pay WET on wine that has already had WET paid on it
    • wrote off bad debts that included WET you had paid
    • are entitled to the wine producer rebate.

    You cannot claim a WET credit:

    • for wine you have bought for a price that includes WET unless you have a WET liability for a subsequent sale of the wine
    • if you do not have a WET liability
    • when you export wine.

    2018 and later vintage wine sold or dealt with from 1 January 2018

    You're entitled to a WET credit if you:

    • paid WET in error or overpaid WET – for example, a wholesaler sells wine and pays WET, but subsequently allows a settlement discount
    • are liable to pay WET on wine that has already had WET paid on it
    • wrote off bad debts that included WET you had paid
    • are entitled to the wine producer rebate.

    You cannot claim a WET credit:

    • for wine you have bought for a price that includes WET unless you have a WET liability for a subsequent sale of the wine
    • if you do not have a WET liability
    • when you export wine.

    Find out about:

    See also:

    • When you have to pay WET
    • WETR 2009/1 Wine equalisation tax: the operation of the wine equalisation tax system (paragraphs 118 to 122 (Trade incentives) and paragraphs 207 to 216 (Wine tax credits)).

    Claiming credits

    If you're registered for GST and WET, you can claim WET credits through your BAS. You must do this within four years from the day after you were required to lodge your BAS for the tax period in which the WET credit arises.

    If you're not registered for GST (and are not required to be) you can use an Application for refund of wine equalisation tax to claim WET credits you're entitled to. You can only claim if the total amount of credit claimed is $200 or more. You must provide supporting documents and lodge your claim within four years of when the WET credit entitlement arose.

    If you're an approved New Zealand participant, you claim the producer rebate using the Application for payment of WET rebate by an approved NZ participant.

    See also:

    Over claimed credits

    If you over claim a WET credit, it will be treated as tax payable from the time of the over claim. You must repay the over claim by including it as WET payable on your BAS.

    See also:

    Last modified: 11 Oct 2017QC 22755