Fresh price hike for booze

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 modifications within the annual inflation charge — at the moment at 4.1 per cent.

Below the modifications, 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 enhance by about 90c, whereas a slab can be roughly $20 costlier, based on the Brewers Affiliation.

With funds 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 mentioned the worth hike was a daily incidence.

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

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

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

“We have a look at these issues each funds, we have a look at what’s potential, what’s inexpensive,” she mentioned.

Wine will not be topic to the alcohol excise, with the wine equalisation tax relevant as a substitute.