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13/10/2014

ATO clamps down on WET rebate claims

The Australian Taxation Office (ATO) has been conducting a high number of audits in the wine industry, including any business claiming over $100,000 in rebates including the WET.

The ATO is already reporting estimated savings of more than $30 million in repaid claims and fines.

WHAT THE ATO IS LOOKING AT:

Blended wine – the rebate that can be claimed has to be reduced by any previous claims on the component wines (to prevent double-dipping on the same wine)

Associated entities – if two businesses are found to be associated, then they will be subject to one limit on rebate claims of $500,000 between them

Genuine producers – producers have to meet the ATO definition of a producer to qualify for the rebate. If you supply all your grapes to one winery that contract processes it for you and then buys the wine from you to put into products with their own labels, you are unlikely to meet the definition of a producer.

For more information and suggestions for preparing for an audit, visit www.wgcsa.com.au  

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