Alcohol Duty Rates Set to Increase

The Australian Taxation Office has announced that excise equivalent customs duty rates for alcohol will increase for any product delivered on or after 1 August 2015. The rise is the result of an increase in the consumer price index.

The new excise duty rates and the new customs duty rates for excise equivalent goods are available to download through border.gov.au

Any periodic settlement permission holder can either lodge a single excise return with different lines covering pre- and post-indexation rates for product delivered for home consumption or two separate returns - one for product delivered for home consumption before 1 August 2020 and the other covering product delivered from 1 August 2015.

ATO reminds that those who have a settlement period that starts on 1 August 2020 will not need to lodge two lines or two returns as a result of the indexation change.

However, those who pre-pay must lodge the pre-payment excise return before you move the product and pay duty at the rate applicable on that day.

For more information on excise, go to ato.gov.au/excise

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