The changes to the Wine Equalisation Tax (WET) rebate eligibility criteria and cap reduction started applying from 1 July 2018. The ATO has indicated that will not apply penalties or interest for errors until after 31 December 2018, unless there is deliberate or reckless ignorance of the new requirements. Taxpayers in the wine industry who are unsure of the tax consequences brought by the WET changes should seek legal advice as soon as possible.

Previous discussions on WET changes in this forum are found below:

Sladen Snippet - Changes To The Wine Equalisation Tax (WET) Rebate Eligibility Criteria And Cap Reduction
Sladen Snippet - New WET Rebate Eligibility Criteria And Cap Reduction Receives Assent
Sladen Snippet - Registered Trade Marks Required For WET Rebate

To discuss this article, or for further information please contact:

Patricia Martins
Lawyer
Sladen Legal
T +61 3 9611 0138
Level 5, 707 Collins Street, Melbourne, 3008, Victoria, Australia
E: pmartins@sladen.com.au

Daniel Smedley
Principal | Accredited Specialist in Tax Law
Sladen Legal
M +61 411 319 327| T +61 3 9611 0105
Level 5, 707 Collins Street, Melbourne, 3008, Victoria, Australia
E: dsmedley@sladen.com.au