Important changes for excise

chris Beer News

Some good news out of the ATO this week with regards to lodging and paying excise monthly.

From 1 July 2016, a range of small business tax concessions became available to all businesses with turnover less than $10 million. Small businesses may now be eligible to report and pay excise duty monthly rather than weekly. Follow the link to find out if your business is. Hopefully this will, in a very small way, help alleviate the cash flow issues for some businesses.

Of course, in the way of these things, the ATO has also announced that excise rates went up as at the 1st of August. You can find the new rates here.