Tax break for small brewers
Posted: Wednesday May 09, 2012 9:30 am
Some positive news out of the budget, from the ABC website:
Cheers,
Oliver
It seems that this "generosity" is only due to the budget also closing a loophole that, out of pure coincidence, of course, will put $10 million over four years into government coffers from winemakers.The Government is ... slashing red tape for micro beer breweries, saving $10 million over four years in the process.
The expanded scheme will increase, from $10,000 to $30,000, the amount before any brewer has to pay beer excise.
It will also remove a 30,000-litre limit. Under previous rules, if a producer exceeded the limit, the beer excise would have been payable on the whole amount.
The scheme means all brewers don't have to pay excise for the first $30,000 worth of production.
There were no changes to the cider excise rate, despite a call from the spirits industry for an increase in cider taxation.
Cheers,
Oliver