Some businesses in the wine industry are using accounting packages to generate invoices which give a combined GST and wine equalisation tax (WET) amount, where both taxes apply.
This combined figure is shown at a wine equalisation tax-goods and services tax (WEG) label on the invoice.
If an invoice only contains a WEG figure and doesn't show WET and GST separately, it won't contain all of the necessary information to claim GST credits. This is because it doesn't clearly show the amount of GST payable.
If a supplier issues an invoice that contains a figure at the WEG label, but also includes sufficient information which will allow you to work out the break-down of the GST and WET, you may claim the GST amount as a GST credit.
If you only have an amount at the WEG label and can't work out the break-down of GST and WET, ask your supplier to issue you a valid tax invoice (they will need to provide it to you within 28 days of your request or they may be penalised).
We recommend that suppliers issuing invoices only showing an amount at the WEG label either:
- change the heading from 'tax invoice' to 'invoice', or
- include all the information for a tax invoice – whether or not the invoice contains an amount at the WEG label.
See also
- GST – Issuing tax invoices
- How to set out tax invoices and invoices
- Wine equalisation tax