A New Tax System (Wine Equalisation Tax) Act 1999

Part 4 - Wine tax credits  

Division 19 - Producer rebates  

19-15   Amount of producer rebates  

(1)  


The amount of the *producer rebates to which you are entitled because of subsection 19-5(1) for the wine for the *financial year is:


(a) for *wholesale sales - 29% of the *price (excluding wine tax and *GST) for which the wine was sold; and


(b) for *retail sales and *AOUs - 29% of the * notional wholesale selling price of the wine.

(1A)  


The amount of the * producer rebates to which you are entitled because of subsection 19-5(2) for the wine for the *financial year is an amount equal to 29% of the approved selling price for the wine.

(1B)  


In working out the amount of the *producer rebate to which you are entitled because of subsection 19-5(2) , any component used to determine the approved selling price that is expressed in a currency other than Australian currency is to be treated as if it were an amount of Australian currency worked out in the manner determined, by legislative instrument, by the Commissioner.

(1C)  


In this section:

approved selling price
, in relation to wine sold by a *New Zealand participant, means the participant ' s selling price for the wine net of any expenses unrelated to the production of the wine in *New Zealand, including but not limited to:


(a) expenses relating to transportation, freight and insurance, agent ' s fees and any other costs associated with exportation of the wine from New Zealand and importation of the wine into the indirect tax zone; and


(b) New Zealand and Australian taxes including customs duties.

(2)  


The maximum amount of *producer rebates to which a *producer is entitled for a *financial year under this Division is $350,000.

(3)  


However, if the * producer is an * associated producer of one or more other producers for a * financial year , the maximum amount of * producer rebates to which those producers are entitled as a group for the financial year under this Division is $350,000.

 

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