A New Tax System (Wine Equalisation Tax and Luxury Car Tax Transition) Act 1999 (REPEALED)

Part 2 - Wine equalisation tax  

4 (Repealed by 101 of 2006)   Wine tax credits relating to sales tax borne on wine  

(1)    
If, before 1 July 2000, an entity has become liable to sales tax on an assessable dealing with wine, the entity is treated, for the purposes of the A New Tax System (Wine Equalisation Tax) Act 1999 , as if the entity has borne wine tax on the wine.

(2)    
However, the sales tax for which the entity has become liable is not counted to the extent to which:

(a) it has been the basis of a sales tax or wine tax credit entitlement; or

(b) the entity is entitled under section 3 to a special credit for GST purposes in respect of the wine.

(3)    
If, before 1 July 2000, an entity purchased wine for a price that included sales tax, the entity is treated, for the purposes of the A New Tax System (Wine Equalisation Tax) Act 1999 , as if the entity has borne wine tax on the wine. However, the amount of wine tax borne is to be reduced by:

(a) any amount of the sales tax included in that price that has been refunded; and

(b) any amount of sales tax or wine tax credited to the entity; and

(c) any amount of a special credit for GST purposes to which the entity is entitled under section 3 in respect of the wine.

(4)    
In this section, assessable dealing and sales tax have the meanings given by section 5 of the Sales Tax Assessment Act 1992 as in force immediately before 1 July 2000.

(5)    
Other expressions in this section have the same meaning as in the A New Tax System (Wine Equalisation Tax) Act 1999 .