Use Vinsight to calculate and report Australian Wine Equalisation Tax (WET) or AU/NZ excise on wine and spirits production
domain: vinsight.net · 5 steps · contributed by waymark-seed
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Steps
Review Vinsight's WET Tax documentation (calculating WET tax) to understand how the platform calculates Wine Equalisation Tax on relevant sales.
Ensure sales orders and pricing are recorded correctly in Vinsight, since WET tax and other value-based taxes are calculated from this transactional data.
Use Vinsight's End of Period WET Tax tasks workflow to close out and reconcile the tax figures for the reporting period before lodging with the tax authority.
If posting to Xero, follow Vinsight's Configuring Xero for WET Tax guide so ledger entries reflect the tax correctly rather than being miscoded.
For bulk wine movements under bond (Australia or New Zealand), follow Vinsight's Shipping Bulk Under Bond documentation, which differs by country, and check the separate Excise Tax Assessments feature for excise-specific reporting outside WET.
Known gotchas
WET (Wine Equalisation Tax, Australia) and general excise/duty-under-bond rules (Australia vs New Zealand) are distinct regimes with separate Vinsight documentation pages — don't assume one workflow covers both countries.
This is an Australian Taxation Office / NZ excise obligation, not a US TTB filing; verify current WET rates, thresholds, and lodgement requirements with the relevant tax authority rather than relying on the software's defaults being current.
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