To calculate WET for wholesale sales:
- Apply the 29% WET rate to the sale price of the wine (excluding GST).
- Calculate the GST on the WET-inclusive price.
If you sell wine by wholesale for a price that includes WET you must show the amount of WET on the invoice given to the buyer.
Find out about:
- Invoices with a combined wine equalisation tax-goods and services (WEG) label
- GST – issuing tax invoices
Start of example
Example – how to work out the wholesale price
Alison has a winemaking business. She sells grape wine to a bottle shop for $120 a dozen before tax. This is how Alison works out the total wholesale selling price:
1 dozen wine |
$120.00 |
Plus WET @ 29% |
$34.80 |
Sub-total |
$154.80 |
Plus GST @ 10% |
$15.48 |
Total wholesale selling price |
$170.28 |
End of example
Some wine sellers use commission agents to facilitate their wine sales. Where the agent deducts a fee from the proceeds of sale, this fee doesn't reduce the selling price of the wine.
See also:
For wholesale sales, apply the 29% WET rate to the pre-tax sale price of the wine. Then calculate the GST on the WET-inclusive price.