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Australia introduces excise duty break for distillers

Australia introduces excise duty break for distillers

SYDNEY: The Australian Government has announced that a new excise duty refund for distillers entered into force on July 1.

The refund is worth 60 percent of excise duty paid, up to AUD30,000 (USD23,714) per financial year. The excise must have been paid on or after July 1, 2017 for the distiller to access the refund.

This measure extends a refund scheme already in place for craft brewers, and is designed to help the domestic distillery industry to innovate and grow.

To be eligible for the excise refund, distillers must be legally and economically independent of any other entity that is an alcohol manufacturer that has received a refund of excise under the refund scheme. They must also have fermented or distilled at least 70 percent by volume of the alcohol content of the alcoholic beverage.

For refunds of excise paid on distilled alcoholic beverages, the distiller must have a still and satisfy the still ownership test.

The scheme will not be extended to alcopop producers who merely purchase the spirits and add soda and other flavors, or to wine producers who benefit from the wine equalisation tax rebate.