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

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

This Act implements a new tax system by imposing wine equalisation tax on wine products, excluding customs and excise duties. The Act commences on July 1, 2000, and imposes a 29% rate of wine tax payable under the A New Tax System (Wine Equalisation Tax) Act 1999.

The Act excludes taxes on property belonging to States, with such property having the same meaning as in section 114 of the Constitution. The legislation aims to implement a new tax system for wine products, ensuring that the tax payable is not a duty of customs or excise.