Summary
Amends the:
A New Tax System (Wine Equalisation Tax) Act 1999
to: introduce a new wine produce rebate which will replace the existing cellar door rebate scheme; ensure that wine packaging is included in the tax base for assessing wine tax liability; ensure that payment of wine tax is not avoided by the export and re-entry of wine; amend the definition of rebatable wine to include cider, perry and sake; and correct a technical error; and
Income Tax Assessment Act 1997
to repeal accelerated depreciation for grapevine plantings. Also contains application and transitional provisions.