Treasury Laws Amendment (Goods and Services Tax) Regulations 2019 (F2019L00362)
Schedule 2 Amendments
A New Tax System (Wine Equalisation Tax) Regulations 2000
4 Subregulation 25-5.04(1)
Repeal the subregulation, substitute:
(1) For the purposes of paragraphs 25-5(1)(e) and (1A)(e) of the Act, if:
(a) an amount of wine tax is to be paid in cash to a purchaser of wine; and
(b) the amount of wine tax is not an exact multiple of 5 cents;
then:
(c) the amount of wine tax is to be rounded up or down to the nearest exact multiple of 5 cents (rounding up if the amount is an exact multiple of 2.5 cents); and
(d) the result of the rounding is the proportion of the amount of wine tax that is to be paid to the purchaser.