Published on 19 Mar 13
by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE
On 19 September 2012 the Government introduced into Parliament amendments to the A New Tax System (Wine Equalisation Tax) Act 1999. The amendments were introduced, passed and received Royal Assent (in December 2012) with a view to ensuring that a wine producer is not entitled to the wine equalisation tax (WET) producer rebate on wine that has already had a WET producer rebate claimed on it. This issue,particular to blending arrangements, is one which has recently been at the forefront of the Commissioner’s and Treasury’s mind in the context of the WET rebate; other issues including the application of the “associated producer” provisions and perceived uncommercial arrangements being entered into with a view to take advantage of the WET rebate.
This presentation focuses on ensuring that attendees walk away with:
- a detailed understanding of the recent changes to the WET rebate and the impact on their clients
- an understanding of the WET Grouping provisions and how these apply within Family Groups
- what to expect if (when?) an ATO auditor comes calling