- The Australian Taxation Office released draft legislation allowing eligible New Zealand wine exporters to claim a wine tax credit for the wine equalization tax.
- Claims can be made within four years after the wine tax credit arises.
- The draft legislation repeals and replaces the 2016 determination, which would otherwise expire on April 1, 2026.
- The new legislation maintains the same substantive effect as the previous determination.
- Consultation on the draft legislation closes on December 5, 2025.
Source: kpmg.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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