Business Activity Statement - Calculate Wine Equalisation Tax (WET) in AU
Ability to calculate Wine Equalisation Tax in Australia.
Purpose: To easily comply with transactiona tax requirements in Australia
Thanks for your interest, everyone - we’ll keep monitoring this here.
While we appreciate the appetite, we want to be open that developing automatic calculation of wine equalisation tax within Xero is not in the teams roadmap at this time.
For those in need right now, we’d recommend looking into our app partner integrators that can fulfill these needs. Alternatively, you can view and join discussion on how others are doing this with invoices in Xero.
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Phillip James commented
Incorporating WET functionality to Tax Rates and BAS would be idea to increasing productivity in Xero.
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Belinda Harvey commented
It's disappointing and frustrating that this still hasn't been done. It makes accounting for a wine business more challenging that it needs to be.
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Kaylee Toze commented
It's time to act please Xero. If your competition can do it, so can you.
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Kate Baker commented
Please include a way to present WET and GST in a single line transaction in invoices. The work around including WET as a separate line makes the invoices confusing for our customers (so it is not only Xero customers who are being inconvenienced by the lack of support for this feature, but also anyone receiving a wine/cider invoice generated through Xero). MYOB does it better...
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James Manners commented
And yet we keep receiving emails about subscription increases for cloud based accounting....?
Not providing a tool essential to Australian Tax Law in the wine sector should really see a discount. -
Peggy Pemberton commented
Please improve this if you appreciate Australian wine and respect it's industries
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Matthew Kingsley Shaw commented
I like everything about Xero except for the lack of this. I have two buisnesses that deal with WET and am going to evaluate my options come new financial year due to the extra complications and lack of clarity on invoices for end consumer.
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Sue Hill commented
Would save a heap of time and fiddly work arounds!
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Penny Hart commented
Please, please can you include WET (wine equalisation tax) to make accounting easier for wine & beverage producers in Australia.
There are many wine & other producers that are very frustrated that this platform doesn't include & so use other accounting software. -
Siegfrid Bacani commented
Would be great to add WET functionality in Xero.
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Rachael Sutcliffe commented
Looks like the kickbacks from the 'add-ons' are too lucrative for Xero to pass up.
People have been asking for WET in Xero for years. Unbelievable it's still not being considered. -
Natasha Webster commented
Unbelievable that it is not included when comparable products like MYOB do calculate WET. I came to Xero because I was told how user friendly it was for non-accounting folk but having to calculate WET externally is useless.
New financial year…I’m going elsewhere. -
James Manners commented
I note that you are putting your prices up again so that you can "continue to respond quickly with the tools and services businesses need to operate efficiently in changing environments, and improve Xero for our customers now and in the future".
If this is the case add WET! -
Donna Crome commented
WET is always a external calculation to have an internal one would make it so much easier to explain to clients & staff alike
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Warwick Billings commented
I remain baffled that it isn't an included feature.
I'm also puzzled that a lucid workaround has never been published, acknowledging the users who struggle on despite - anecdotally there seem to be quite a few bookkeepers running Excel spreadsheets to keep track of the WET and then putting it through Xero the hard way. -
Mark McNamara commented
If another accounting package adds WET calcs to it's package, it will likely be that I move across
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Melinda Koth commented
Can we please have WET tax added to Xero please. Its not that hard to do