OFFICIAL: Rebate increase to $350K confirmed in the budget
Last week, the Treasurer THE HON JOSH FRYDENBERG MP said in his budget speech, “We are also providing tax relief for around 1,000 small brewers and distillers.”
The Australian Distillers Association celebrates Treasurer Josh Frydenberg’s commitment to increase the excise refund cap for small distillers and brewers from $100,000 to $350,000 per year as part of the 2021-22 Federal Budget.
This decision marks an important first step in the campaign to unleash the potential of the Australian spirits industry and will deliver much needed assistance to more than 400 craft distillers around Australia, most of whom are based in rural and regional areas.
This announcement provides much needed relief for hundreds of craft distillers around the country that were severely impacted by COVID-19. It means craft distillers will have more capital available to help their businesses grow and to employ more locals.
We have great ambitions to grow Australia’s world-class distilling industry and this is a great first step that will help the industry to grow. The announcement from the Treasurer means more jobs – especially in regional Australia and importantly jobs that people will love. Craft Distillers are passionate about the innovative and world class products they make.
The Australian Distillers Association was part of an alliance with Spirits and Cocktails Australia that called on the Government to provide Fair and Sustainable Tax Reform for Producers and Suppliers of Spirits in Australia that recognised that we pay the third highest spirits tax in the world. This tax burden is not fair and acts as a handbrake to growth.
The incredible support from Spirits and Cocktails Australia was exceptional. Special thanks goes to their Chair, Angus McPherson and Greg Holland and his team including Nicole, Lee and the team they put together to ensure there was the right message, given to the right people, in the right way that was supported by an effective media campaign.
The spirits category in Australia will be stronger and more sustainable because of the outcomes we have achieved so far from this partnership. This result would not have been possible without the support and resources from Spirits and Cocktails Australia as we campaigned together for Fair and Sustainable Tax reform because we are all in this together.
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