The Albanese Labor Government says it will provide tax relief for Australia’s wine producers, distillers and brewers.
Currently brewers and distillers get a full refund of any excise paid up to $350,000 each year.
The Government will increase the excise remission cap to $400,000 for all eligible alcohol manufacturers.
The Government will also increase the Wine Equalisation Tax (WET) producer rebate from $350,000 to $400,000.
Prime Minister Anthony Albanese says that adjusting the taxation arrangements will back an important local industry as well as supporting regional tourism, investment and job creation.
“To build Australia’s future, we need strong small and medium sized businesses generating jobs and economic opportunity for Australians,” Albanese says.
“This common sense measure will back thriving local industries and open the way for growth.”
Currently around 1,500 brewers and distillers and 3,000 wine producers access these tax incentives.
The proposal will apply from 1 July 2026.
In addition to the tax relief, the Australian Trade and Investment Commission (Austrade) will be providing Australian wine producers, distillers and brewers with additional support to help them grow their exports in high priority overseas markets.
This support includes the opportunity to join in trade missions, expert advice and connections to help small and medium size exporters tap into fast growing markets, including in Southeast Asia and beyond.
The tax relief is estimated to decrease tax receipts by $70 million over five years from 2024-25.
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