Extending the microbreweries excise refund scheme

   Posted by: Wobbles   in beer, craftbeer

I spotted a tweet by Ben from Bridge Road Brewery earlier pointing to the changes in the exise refund for breweries.  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 $10.0 million over the forward estimates period.

This entry was posted on Wednesday, May 9th, 2012 at 7:36 am and is filed under beer, craftbeer. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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