Reporting on your BAS
WET payable is reported at 1C 'Wine equalisation tax' on your BAS. If you are claiming a credit you complete the amount of WET refundable at 1D 'Wine equalisation tax refundable'. If you don't have these labels on your BAS you'll need to register for WET.
Amounts payable and credit amounts must be reported at the correct labels and can't be 'netted off'. For example, if you have a WET liability for a transaction and you're entitled to a producer rebate of the same amount, you must still report the WET payable at 1C and the producer rebate amount at 1D.
You have to:
- account for WET using the same accounting method (cash or non-cash) you use for GST
- attribute the WET payable to the same tax period as you do for GST purposes.
For own use of wine, the WET amounts are attributed to the period in which the own use occurs.
For more information, see BAS – Completing the wine equalisation tax (WET) labels.
Reporting on your annual GST return
If you report and pay GST annually, you only need to report WET when you complete your annual GST return.
Don't complete the WET section of your BAS if you report and pay GST using a pre-printed instalment amount (option 3 on the BAS) because we've included your WET in this amount. Instead, simply report WET payable (1C) and WET refundable (1D) on your annual GST return. For more information, see Annual GST return.
Correcting errors
If you make a mistake in reporting, see our detailed information on correcting WET errors.
Record keeping
You need to keep records of your sales, own use, and import and export transactions so you can report your WET payable accurately and substantiate any credits you claim.
If you're claiming the producer rebate you need to keep records showing that you produced the wine and meet the ownership of source product, packaging, and branding requirements that apply.
You need to keep these records for 5 years.
For more information, see Record keeping for business.
Contact us about WET
General WET enquiries
- Phone us
- Email us:
- wetnewmeasures@ato.gov.au – for advice about the WET legislative changes
- wettechadvice@ato.gov.au – for general WET enquiries
- Write to us:
AUSTRALIAN TAXATION OFFICE
PO BOX 3514
ALBURY NSW 2640
Imported wine only
For information about importing wine and wine products, including how to calculate WET at importation see Wine Equalisation Tax ExemptionsExternal Link or contact the Department of Home AffairsExternal Link.