Connect with us

Local News

Riverina craft brewers welcome tax break shout from 2021-22 federal budget excise rebate | The Daily Advertiser



news, local-news,

The Riverina’s craft brewers have welcomed signs that they are in line for a tax break in the upcoming federal budget, but it could be a while before savings trickle down to customers. From July, small breweries will be able to claim a 100 per cent rebate on the excise, which is the tax paid on alcohol products ready for sale, up to a cap of $350,000. The current tax scheme allows a 60 per cent rebate up to $100,000 and the Treasury has estimated that the average craft brewery will save $55,000 in tax. Tumut River Brewing co-founder Tim Martin said he was still seeking information from the Australian Taxation Office on how much the changes would affect his business. “Any kind of savings on tax would be huge for us;…

Click here to view the original article.

Continue Reading

You might also like ...

Lisa and Norm Carl take over Gerogery Hotel with big plans | The Daily Advertiser
Face Masks Will Remain Compulsory on Public Transport and in Some Indoor Situations Until May 17 – Concrete Playground