6 May 2018
Gold Coast craft brewers and distillers will no longer pay additional tax, allowing them to compete on fairer terms with large beverage companies.
Gold Coast MP Steven Ciobo said the tax cuts will give our local economy a boost, encouraging local distilleries and breweries to invest and grow.
“This is terrific news for more than 10 Gold Coast craft brewers who will benefit from the Turnbull Coalition Government’s continued support for Gold Coast small businesses,” Mr Ciobo said.
“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.”
As part of the 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.
Mr Ciobo said craft brewers are not the only ones who will reap the benefits; it also raises an exciting prospect for Gold Coasters.
“It means some of our famous beers from local brewers such as Burleigh Brewing co. or Balter Brewing in Currumbin are likely to be cheaper for consumers,” Mr Ciobo said.
Burleigh Brewing Co. Director and CEO Peta Fielding said the increase in the refund cap will assist their commitment to investing in local manufacturing capacity, local employment and the local community.
“As a business, we pay several million dollars in liquor excise every year. Of that, $100,000 can now be returned to the business, enabling us to continue to commit to new investments.” Mrs Fielding said.
“We welcome the opportunity this tax cut brings, to enable us to invest in our growing business and, ultimately, employ more people.”
Mr Ciobo said this tax relief builds on the Turnbull Coalition Government’s continued support for small business.
“Small businesses are the lifeblood of our city, which is why we continue to back them through our tax cuts and $20,000 instant asset write-off.”