Australian craft distillers look set to benefit from this year’s budget, with the government extending the excise refund scheme to domestic producers of whisky, rum, vodka, gin, liqueur and low-strength fermented beverages such as non-traditional cider.
“The government is committed to supporting small businesses in the industry, and ensuring the right conditions see businesses grow and expand globally,” said Minister O’Dwyer.
“These changes will provide a boost to the approximately 100 distillers in Australia who will eligible for the scheme including many new whisky distillery startups in Tasmania.”
Under the scheme, eligible producers can receive a refund of 60% of excise paid up to $30,000 per financial year.
Producers of alcopops and wine producers that benefit from the WET rebate will not be given access to the scheme.
The extension of the excise refund scheme is projected to cost the budget $3 million each year from the 2017-18 financial year, at a total cost of $9 million over the forward estimates.
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