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Reporting and paying WET

You report and pay wine equalisation tax (WET) amounts to us and claim any credits in your BAS or an annual GST return.

Last updated 10 October 2017

WET payable is reported at 1C 'Wine equalisation tax' on your BAS. If you are claiming a credit you complete WET refundable at 1D 'Wine equalisation tax refundable'. If you don't have these labels on your BAS you'll need to register for WET.

Amounts payable and credit amounts must be reported at the correct labels and can't be netted off. For example, if you have a WET liability for a transaction and you're entitled to a producer rebate of the same amount, you must still report the WET payable at 1C and the producer rebate amount at 1D.

You have to account for WET using the same accounting method (cash or non-cash) you use for GST, and attribute the WET payable to the same tax period as you do for GST purposes.

For own use of wine, the WET amounts are attributed to the period in which the own use occurs.

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Annual GST return and WET

If you report and pay GST annually, you only need to report WET when you complete your annual GST return.

Don't complete the WET section of your BAS if you report and pay GST using a pre-printed instalment amount (option 3 on the BAS) because we've included your WET in this amount. Simply report WET payable (1C) and WET refundable (1D) on your annual GST return.

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Record keeping

You need to keep records of your sales, own use, and import and export transactions so you can report your WET payable accurately and substantiate any credits you claim.

If you're claiming the producer rebate you need to keep records showing that you produced the wine and meet the ownership of source product, packaging, and branding requirements that apply.

You need to keep these records for five years.

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