A New Tax System (Wine Equalisation Tax Imposition—Excise) Act 1999

The A New Tax System (Wine Equalisation Tax Imposition—Excise) Act 1999 was enacted to implement a new tax system by imposing wine equalisation tax on duties of excise. The Act commences on 1 July 2000, and its provisions are as follows:

The rate of wine tax payable under the A New Tax System (Wine Equalisation Tax) Act 1999 is set at 29%. This Act does not impose a tax on property of any kind belonging to a State. The Act specifically limits the imposition of wine equalisation tax to duties of excise, as defined in section 55 of the Constitution.

The Act aims to implement A New Tax System by imposing the tax payable under the wine tax law, so far as that tax is a duty of excise. This legislation has been approved on July 8, 1999, and it may be cited as the A New Tax System (Wine Equalisation Tax Imposition—Excise) Act 1999.