Beer, spirits face worth hike as alcohol excise jumps 1.8 per cent

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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 routinely rises twice a yr in February and August, and is decided by adjustments within the annual inflation fee — at the moment at 4.1 per cent.

Beneath 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, a pint will improve by about 90c, whereas a slab shall be roughly $20 costlier, in keeping with the Brewers Affiliation.

With price range papers forecasting the alcohol excise is about to rake in nearly $7.9bn into authorities coffers this monetary yr, Finance Minister Katy Gallagher final Thursday stated the worth hike was a daily prevalence.

“In relation to the indexation preparations which can be round alcohol, that is one thing that occurs,” she stated.

“This occurs … as regular sort of course of enterprise for governments of each persuasions, these are the tax preparations that stay in place.”

Nevertheless, Ms Gallagher didn’t rule out altering excise charges sooner or later amid the present value of dwelling crunch.

“We have a look at these issues each price range, we have a look at what’s attainable, what’s reasonably priced,” she stated.

Wine shouldn’t be topic to the alcohol excise, with the wine equalisation tax relevant as an alternative.