Member for Forrest Nola Marino said South West Craft brewers and distillers will no longer be disadvantaged, paying an additional tax.
“This is terrific news for the craft breweries in the South West who will benefit from the Turnbull Government’s continued support for Aussie small businesses,” Mrs Marino said.
“Our policy will allow craft breweries and distilleries to compete on fairer terms with larger beverage companies.
“This will help over 15 local businesses to grow and employee more people.”
As part of our continued commitment to back Australian small businesses, the Turnbull 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,” Mrs Marino said.
“This additional tax relief builds on the Turnbull 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 South West craft brewers and distillers will drive competition in a sector currently dominated by large domestic and multinational brewers, opening the door to new products.”