On 5 May 2015 the Assistant Treasurer announced that the Treasury had been asked to prepare a discussion paper examining the Wine Equalisation Tax (WET) rebate . This paper forms part of the Tax White Paper process and will help inform the conversation on taxation reform.
The WET rebate provides wine producers with a rebate of up to $500,000 per year. The rebate was intended to provide support to the wine industry by reducing, and in some cases eliminating, WET liabilities. This paper provides an opportunity to consider the current operation of the WET rebate, and seeks input on a range of possible ways to sustainably support the wine industry into the future.