Document ID: chunk:federal_register_of_legislation:C2004A01364:clause:2_2
Version: federal_register_of_legislation:C2004A01364
Segment Type: clause
Provision Reference: sch 2 cl 2
Character Range: 10786–11759

2  After section 17‑35
Insert:

17‑37  Clawback of CR10 wine tax credit on later sale

 (1) A *wine tax credit under *CR10 in relation to wine that is *exported is subject to the condition that you are liable to pay an amount equal to the credit if:
 (a) the wine is returned to Australia; and
 (b) the *local entry of the wine is not taxable because of:
 (i) paragraph 7‑5(b) (as it operates because of section 42‑10 of the *GST Act); or
 (ii) section 7‑25; and
 (c) you later sell the wine by *retail sale or there is a later *AOU of the wine.

 (2) The amount is to be treated as if it were wine tax that became payable by you at the time of the later sale or later *AOU of the wine, and, for the purposes of Part 5, were attributable to the *tax period in which the later sale or later AOU happened.

Note: The main effect of treating the amount as if it were wine tax is to apply the collection and recovery rules in Part VI of the Taxation Administration Act 1953.