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24
May
  • Posted By : Administrative
  • Category: General Tax Topic
  • Comments: 0

WHAT IS WINE PRODUCER REBATE AND ARE YOU ELIGIBLE FOR IT?

As a wine producer, a taxpayer might be entitled to a rebate of $500,000 each financial year. The rebate is based on the wine equalisation tax (WET) amount of wine deal or the amount that would have been paid but not quoted.
If the buyer quotes, you can claim the producer rebate only if they have declared (in the quote) that they do not intend to make a GST-free supply of the wine.
To be eligible for this rebate a taxpayer must do one of the following:

  • Manufacturing the wine from grapes, other fruit, vegetables or honey they produce or purchase; 
  • Providing the grapes, other fruit, vegetables or honey to a contract winemaker to be made wine on behalf of the taxpayers; 
  • Manufacturing finished wine from raw wine or blending wines to make a commercially distinct wine.

A taxpayer will not be considered as a wine producer if they simply purchase wine in bulk and bottle it for sale.  


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