Producer rebate calculation sheet

About this calculation sheet

You can use the calculation sheet to calculate your producer rebate where the selling price of your wine and expenses unrelated to the production of the wine in New Zealand are expressed in New Zealand currency.

The Wine equalisation tax (WET) producer rebate calculation sheet for New Zealand wine producers (NAT 15345, PDF 620KB)This link will download a file is an electronic form.

Select Enable All Features if prompted, then select the Fill & Sign tool in Adobe Acrobat Reader. This will allow the form to be completed electronically.

Once completed, print the form and submit it with your Application for payment of wine equalisation tax (WET) rebate form.

If you are claiming rebates for more than one financial year, complete a separate calculation sheet for each financial year.

Use calculation sheet A where all of the wine specified in your sales invoice has had WET paid on it in the same Australian financial year.

Use calculation sheet B where the wine specified in your sales invoice has had WET paid on it in different Australian financial years.

Converting foreign currency

If the figures you use to calculate the producer rebate are not in Australian dollars, you must convert the figures to Australian currency before making your claim.

There are 2 methods for converting currency, depending on whether you're converting from New Zealand or foreign currency. Once you choose a method, you must apply the same method consistently during a financial year.

You can use either of the 2 methods to convert foreign currency to Australian currency:

• Method 1 – Average RBNZ rate
• Method 2 – RBA rate.

Method 1 – Average RBNZ rate

Method 1 uses the average Reserve Bank of New Zealand (RBNZ) rate. The average RBNZ rate is the exchange rate expressed as a unit of Australian currency per New Zealand dollar for the Australian financial year in which the conversion day occurs.

This method is only available if you're converting New Zealand currency to Australian currency. If you're converting a different currency, you need to use Method 2.

The following formula may be used for the average RBNZ rate:

Value of component in NZ$ × the average RBNZ rate for the Australian financial year of the conversion day

Table 1: The average Reserve Bank of New Zealand exchange rate by Australian financial year

Australian financial year	Average RBNZ exchange rate
2025–26	NZ$1 = A$0.8630
2024–25	NZ$1 = A$0.9121
2023–24	NZ$1 = A$0.9254
2022–23	NZ$1 = A$0.9153
2021–22	NZ$1 = A$0.9379
2020–21	NZ$1 = A$0.9309
2019–20	NZ$1 = A$0.9487
2018–19	NZ$1 = A$0.9380
2017–18	NZ$1 = A$0.9220
2016–17	NZ$1 = A$0.9448

Method 2 – RBA rate

Method 2 uses the Reserve Bank of Australia (RBA) rate. The RBA rate is the exchange rate (expressed as a unit of foreign currency) per Australian dollar, as calculated by the Reserve Bank of Australia.

The following formula may be used for the RBA rate:

Value of component in foreign currency × (1 ÷ the RBA rate on conversion day)

The conversion day is the earlier of:

• the day any payment for the supply of wine is received by the New Zealand participant
• the invoice date.