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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