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Federal Budget 2021-22: Australian Brewers and Distillers

Federal Budget 2021-22: Australian Brewers and Distillers

The Government has made a welcome announcement offering $225 million in tax relief for small Australian brewers and distillers in the form of an increase in the excise refund cap. From 1 July 2021, eligible distillers, brewers and craft manufacturers of fermented alcoholic beverages (such as non-traditional cider) will benefit from the increase in the excise refund cap of $350,000 (increased from $100,000) per financial year.

The increased level of excise relief for eligible alcohol manufacturers will align with the $350,000 Wine Equalisation Tax (WET) Producer Rebate for eligible wine producers, placing all alcohol manufacturers and wine producers on a level playing field. These changes will assist the growth of Australia’s craft brewing and distilling industry and serve as much-needed relief for those businesses severely impacted by COVID–19.

 

 

The information contained in this blog is general in nature and should not be considered to be legal, tax, accounting, consulting or any other professional advice. In all cases, you should consult with a professional advisor familiar with your factual situation for advice concerning specific matters before making any decisions. By reading this blog, you confirm your understanding of this disclaimer.

Toni Eisenhut
Toni Eisenhut
Got questions? Speak to our team of experienced tax lawyers today.


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