Henry tax review and beer – part 2
The Henry tax review does contain some joy for the microbrewing industry. It notes that for small producers it is costly to comply with the current excise scheme. The review recommends streamling excise arrangements for small producers. Streamling would include relaxing excise licencing conditions, and relaxing rules about the calibration and testing of equipment. Instruments used to determine alcohol content, and all fermentation tanks must be calibrated through the National Association of Testing Authorities. The review also suggests excise liabilities be reported through the quarterly Business Activity Statement. Wine producers already report their Wine Equalisation Tax obligations through their quarterly BAS.
SOME LIGHT AT THE END OF THE TUNNEL JUST MAKE SURE ITS NOT THE TRAIN