Wine Equalisation Tax configuration for Reckon

Legacy KB ID: 1170

Question

How do I configure WET in Reckon

Answer

Wine equalisation tax (wine tax) is a value-based tax of 29 per cent and is levied at the wholesale level.  Wine manufacturers, wholesalers and importers collect wine tax and remit it to the Tax Office. 

This can be a complicated part of the GST legislation and we recommend that if you are unsure, you consult a Reckon Accredited Partner before attempting to configure your accounting software.

The ATO website has some useful documents that will give you a good basic understanding of the legislation.

For a list of Reckon Accredited Partners in your area go to

Accountant, Bookkeeper & Advisors Directory | Reckon

Need more help?

Ask the Reckon Community at: https://community.reckon.com/categories/reckonaccounts

Or Log a Support Ticket: https://www.reckon.com/au/support/