Beers, spirits and pre-mixed drinks are set to be costlier from Monday when federal taxes on alcohol are hiked but once more.
The value rise is due the federal authorities’s excise on alcohol, which mechanically rises twice a yr in February and August, and is set by adjustments within the annual inflation price — at present at 4.1 per cent.
Under the adjustments, one litre of pure alcohol will now be topic to $101.85 cents of excise — up from $100.05 — an increase of 1.8 per cent.
From Monday, tax on a pint will enhance to 90c, whereas the tax on a slab will rise to $20, in response to the Brewers Association.
With price range papers forecasting the alcohol excise is ready to rake in nearly $7.9bn into authorities coffers this monetary yr, Finance Minister Katy Gallagher final Thursday mentioned the worth hike was a daily incidence.
“In relation to the indexation arrangements that are around alcohol, this is something that happens,” she mentioned.
“This happens … as normal kind of course of business for governments of both persuasions, these are the tax arrangements that remain in place.”
However, Ms Gallagher didn’t rule out altering excise charges sooner or later amid the present price of residing crunch.
“We look at these matters every budget, we look at what’s possible, what’s affordable,” she mentioned.
Wine will not be topic to the alcohol excise, with the wine equalisation tax relevant as a substitute.
Originally printed as Beer, spirits face value hike as alcohol excise jumps 1.8 per cent
Source: www.dailytelegraph.com.au
