Wine Equalisation Tax: Correcting WET Errors Determination 2015 (Cth)

Legislative Instrument

Wine Equalisation Tax: Correcting WET Errors Determination 2015

I, James O'Halloran, Deputy Commissioner of Taxation, make this determination under the following provisions:

* subsection 17-20(1) of the A New Tax System (Goods and Services Tax) Act 1999.

James O'Halloran Deputy Commissioner of Taxation

Dated: 22 July 2015

1. Name of Determination

This Determination is the Wine Equalisation Tax: Correcting WET Errors Determination 2015.

2. Commencement

This Determination commences the day after its registration.

3. Application

This Determination applies in working out wine tax or wine tax credits as part of the calculation of a net amount for a tax period for which you give the Commissioner your GST return on or after the commencement date of the Determination.

However, it does not apply in working out wine tax or wine tax credits as part of the calculation of a net amount for a tax period that started before 1 July 2012.

4. Determination

Circumstances where an error may be corrected

In working out your net amount for a tax period, you may include an amount to correct an error made in working out your net amount for an earlier tax period if:

(a) the error relates to an amount of wine tax or wine tax credit under the A New Tax System (Wine Equalisation Tax) Act 1999; and

(b) if the earlier tax period started on or after 1 July 2012 - you lodge the GST return for the later tax period within the period of review for the assessment of the net amount for the earlier tax period, and

(c) if the earlier tax period started before 1 July 2012 - the error does not relate to an amount that:

(i) ceased to be payable by you because of section 105-50 in Schedule 1 to the Taxation Administration Act 1953, or