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.