Treasury Laws Amendment (2017 Measures No. 4) Act 2017 (94 of 2017)

Schedule 1   Wine equalisation tax producer rebate

Part 1   Main amendments

Division 1   Amendments

A New Tax System (Wine Equalisation Tax) Act 1999

1   At the end of Division 5

Add:

5-50 Purchaser quoting on purchase from producer - failure to deal according to quote

(1) This section applies if:

(a) you *purchased wine under quote from the *producer of the wine; and

(b) in your *quote you did not state that you have the intention of dealing with the wine in one of the following ways:

(i) a way described in paragraph 13-5(1)(c) or (d);

(ii) by sale to an entity that will quote for the sale; and

(c) you cause an *assessable dealing with the wine that is a dealing in a way described in subparagraph (b)(i) or (ii).

(2) Sections 7-5 (Exemption for dealings that are GST-free supplies etc.) and 7-10 (Exemptions based on quoting) do not apply to the *assessable dealing mentioned in paragraph (1)(c).

(3) For the purposes of this Division:

(a) disregard paragraph (g) of the definition of application to own use in section 33-1; and

(b) treat the matter referred to in that paragraph as being an application to own use.