A New Tax System (Wine Equalisation Tax) Act 1999

Part 7 - Interpreting this Act  

Division 31 - Meaning of some important concepts  

Subdivision 31-C - Borne wine tax and wine tax borne  

31-10   Meanings of borne wine tax and wine tax borne  

(1)    
This section sets out the 2 situations in which an entity is taken to have borne wine tax on wine.

(2)    
An entity is taken to have borne wine tax on wine if the entity has become liable to wine tax on an * assessable dealing with the wine. However, the wine tax for which the entity has become liable is not counted to the extent to which it has been the basis of a * wine tax credit entitlement.

(3)    
An entity is taken to have borne wine tax on wine if the entity purchased the wine for a * price that included wine tax. However, the amount of wine tax borne is to be * reduced by any amount of the wine tax included in that price that has been refunded or * wine tax credited to the entity.

 

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