Why WET matters
Wine Equalisation Tax (WET) is a 29% value-based tax on the wholesale value of wine sold in Australia. The producer rebate (capped at AUD 350,000 per financial year for an eligible producer) is the difference between what you owe and what you keep. Getting the rebate wrong either costs you money or attracts an ATO audit. Cepaos books WET on every sale and reconciles the rebate at BAS time.
Prerequisites
- ABN and ATO WET registration confirmed in Settings > Compliance > AU.
- Producer eligibility flag set (own-brand requirement, 85% ownership, packaged in containers of 5 L or less for retail).
- Sales records categorised by customer type (wholesale, cellar door, export).
1. Configure tax classes
Go to Settings > Tax > WET. Set the WET rate (29%) and the producer rebate cap. Cepaos applies the rebate against the running cap so you can never over-claim within a financial year.
2. Tag every sale
Each sale on the commercial module needs a WET treatment tag:
| Channel | WET treatment |
|---|---|
| Wholesale to a reseller | WET applies, buyer claims credit if eligible |
| Cellar door retail | WET applies on notional wholesale value |
| Export | WET-free with documentary evidence |
| Tasting / sample | WET applies, no rebate available |
3. Run the BAS preview
From Reports > BAS Preview select the BAS quarter. Cepaos lists WET payable, WET credit (purchases), and the producer rebate. The net WET payable carries into BAS labels W1 and W2.
4. Reconcile the rebate cap
Cepaos shows year-to-date producer rebate against the AUD 350,000 cap. If you'll exceed the cap mid-quarter, the system warns you to recategorise marginal sales.
5. Export the BAS workpaper
Click Export BAS workpaper. The PDF maps every dollar of WET back to the underlying sale, ready for your tax agent.
FAQ
Do I lose the rebate if I bulk-sell to another producer?
Yes, unless the buyer provides a notice that they are not entitled to the rebate. Record the notice against the sale in Cepaos to evidence the claim.
How long do I keep WET records?
The ATO requires five years from the date of lodgment.