Craft brewers and distillers will no longer pay additional tax, allowing them to compete on fairer terms with large beverage companies.
“This is terrific news for the craft brewers in the beaches who will benefit from the Turnbull Government’s continued support for Aussie small businesses,” Mr Falinski said.
Manly Spirits Co. Distillery Co-founder Vanessa Walters welcomed the announcement
“We currently employ 8 people in our Brookvale cellar and our Gin just won Double Gold in San Francisco’s World Spirits medals.
“This will enable us to create more award winning spirits and hire more staff,” Ms Walters 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.
“What this means is that the multiple craft brewers and distillers like Manly Spirits, 4 Pines, Modus Operandi, Dad & Daves Brewing, Nomads and many others will be able to compete on a fairer playing field with large beverage companies.” Mr Falinski 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; and
• Increasing the turnover threshold to $10 million for access to the small business concessions”
“This extra help will drive competition in a sector currently dominated by large domestic and multinational brewers, opening the door to new products and will likely put downward pressure on prices,” Mr Falinski said.