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2012 Federal Budget Relief For Microbreweries

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Bribie G

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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.
 

NickB

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Good stuff, it's a great start! Now, onward and upward with a scheme that equals the WET...!
 

Liam_snorkel

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Not quite what Oakeshott was gunning for but better than nothing. Good stuff.
 

Wolfman

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A win is a win! It can only get better from here on in!
 

bum

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Looks like they still have to pay the same amount up-front. I can't see that this will help the smaller breweries all that much.
 

white.grant

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Removing the threshold will make it easier for nano breweries to access the refund so perhaps we will see a lot more small innovative breweries emerging.
 

bum

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Ah, then that is something of a move in the right direction. Thanks for the correction.
 

felten

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That's still not equal with the wineries tax rebate is it?
 

phoenixdigital

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looks like a move in the right direction
True. Further info I found about how big $30k is.

Seems Rob Oakeshott wanted the following

"He called for alcohol tax to be on the forum agenda and is pushing for a rebate of the beer excise to be lifted from $10,000 to $500,000 for brewers of less than 30,000 litres of beer a year."
http://afr.com/p/national/business_tax_los...08Y949zOg05X3nI

It seems small wineries get up to $500,000 back in excise which is massive compared to $30k
http://www.brewsnews.com.au/2012/02/excise...ers-parliament/

Your right though its a start and hopefully things start moving further in that direction.
 

Ross

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It's great news for us, just the tonic we needed as we expand...
I'm not a fan of the WET, as much as it would be great to have equallity with wine, if your business model can't stand on it's own feet without handouts, you should be doing something else....


cheers Ross
 

raven19

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Mod Edit - I combined the 2 threads on the same topic.
 

Fish13

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Hey if the government is giving it away. Lap it up!
 

DKS

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So how will this relate to or effect the average beer lover?
Daz
 

winkle

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So how will this relate to or effect the average beer lover?
Daz
Presumably small and growing micros will be under less fiscal pressure.
To you and me Daz, probably more choice in the longer term (a good start).
 

Maheel

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Presumably small and growing micros will be under less fiscal pressure.
To you and me Daz, probably more choice in the longer term (a good start).
might be a bit more employment in Micros as well around the place if they can expand etc

growth is always a good thing jobs wise

not much else in the budget is thinking about "growth" apart from tax "growth" for the GOV...
 

Newbee(r)

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Ummm in other news, the punter is going to be charged 20c a beer more from 1 July. :angry: Swannie didn't put that in lights in his budget speech did he! So the handouts to buy votes is going to be funded to the tune of over $2b in revenue from this increase over the next 12 months. It's enough to make you want to brew your own!!!! <_<
 

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