I spotted a tweet by Ben from Bridge Road Brewery earlier pointing to the changes in the exise refund for breweries. Â Just thought I should repost the actual excerpt for folks interested in the changes.
RT @NakedNed: Excise relief for all brewers, = benefit to small craft brewers http://www.budget.gov.au/2012-13/content/bp2/html/bp2_revenue-09.htm
> excerpt from http://www.budget.gov.au/2012-13/content/bp2/html/bp2_revenue-09.htm
Extending the microbreweries excise refund scheme
Revenue ($m)
| 2011‑12 | 2012‑13 | 2013‑14 | 2014‑15 | 2015‑16 | |
| Australian Taxation Office | ‑ | ‑2.5 | ‑2.5 | ‑2.5 | ‑2.5 |
The Government will extend the current microbreweries excise refund scheme by increasing the maximum refund amount from $10,000 to $30,000 and removing the current production eligibility threshold of 30,000 litres of beer, with effect from 1 July 2012. The amendments will allow breweries to receive an excise refund of 60 per cent of excise paid, up to a maximum amount of $30,000 per financial year. They will also ensure that the refund does not penalise successful local breweries as they expand their production.
This measure is estimated to have a cost to revenue of $10.0Â million over the forward estimates period.