Hi, i have recently registered for GST in Australia and this now triggers WET (wine equalisation tax) liabilities.
is there some way to have this 29% of wholesale price tax added to the australian reports or is there an instruction on how i can set this up? or do i move away from Manager software?
I have searched the forums but it doesn’t look like too much info there and nothing recent regarding WET.
thanks in advance
This is just multi-component tax code so you would create new tax code like this:
Now, for GST 10% tax component, you actually need to use rate 12.9% because GST is payable on WET-inclusive price.
Then on invoice if you use this tax code, you’d see this.
How will this effect the GST worksheet localisation?
When creating new tax code, in reporting category field, you can select GST Amount option so BAS will pick up GST figures. But currently there is no section on BAS to pick up WET amounts but it wouldn’t be too difficult to add.
I’m planning to look at localizations again in upcoming weeks and push it forward.
that sounds great 
