4 May 2018
Backing Wide Bay’s Craft Brewers and Distillers
Craft brewers and distillers will no longer pay additional tax, allowing them to compete on fairer terms with large beverage companies.
“This is terrific news for the many craft brewers in my electorate of Wide Bay who will benefit from the Coalition Government’s continued support for Aussie small businesses,” Federal Member for Wide Bay, Llew O’Brien said today.
“From the South Burnett to the Fraser Coast and along the Sunshine Coast, the micro breweries and boutique distilleries are flourishing, making the Wide Bay region a sought after tourist destination for dedicated Foodies.
“As part of our continued commitment to back Australian small businesses, the Turnbull McCormack Government will increase the amount beverage companies can claim back on their excise and extend the concessional draught beer excise rate to smaller kegs, typically used by craft brewers.”
The alcohol excise refund scheme cap will increase from $30,000 a year to $100,000, from 1 July 2019 for all brewers and distillers.
“What this means is that craft brewers and distillers will be able to compete on a fairer playing field with large beverage companies,” Mr O’Brien said.
This additional tax relief builds on the Coalition Government’s continued support for small business which includes:
- Legislated tax cuts for small and medium businesses
- The $20,00 instant asset write-off for small businesses for the past x years; and
- Increasing the turnover threshold to $10 million for access to the small business concessions
“This extra help to craft brewers and distillers will drive competition in a sector currently dominated by large domestic and multinational brewers, opening the door to new products and will likely put downward pressure on prices.”ENDS