Is WET (Wine Equalisation Tax) payable on stock write-offs? | ATO Community

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(Enthusiast)Enthusiast

26 Sept 2024

We are a wine producer/cellar door and have old vintage wine that is no longer fit for sale so we are going to repurpose it as cooking wine in our cellar door kitchen. Is WET payable? I would assume that because we will still be using the wine for our own purpose, then WET is payable? In the event that we find it is no good as cooking wine and elect to discard it, is WET payable on the stock write-off? Thanks in advance for your guidance (WET is very new to me!).

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(Community Support)Community Support

27 Sept 2024

A little bit of red in a bolognese maybe 😋

If WET hasn't been paid, it's still payable on any wine that you use yourself.

Have a look here at our website on wine for own use that explains this.

Also, here's some more info about WET in general.

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(Community Support)Community Support

27 Sept 2024

A little bit of red in a bolognese maybe 😋

If WET hasn't been paid, it's still payable on any wine that you use yourself.

Have a look here at our website on wine for own use that explains this.

Also, here's some more info about WET in general.

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Is WET (Wine Equalisation Tax) payable on stock write-offs? | ATO Community