Australia Takes on Mexicoâs Tipple (Just Donât Call It Tequila)
May 10 2021, 7:44 PM
May 08 2021, 12:30 AM
May 10 2021, 7:44 PM
(Bloomberg)
(Bloomberg)
If youâre looking for a symbol of tequilaâs meteoric rise in recent years, a large-scale agave farm just inland from Australiaâs Great Barrier Reef nearly 8,000 miles away from Mexico might be a good place to start.
The plantation belongs to Top Shelf International Holdings Ltd., a Melbourne-based spirits company that listed on the Australian stock exchange in December and already slings vodka and whiskey to the domestic market. Next up, it plans to go international with agave spirits, one of the worldâs fastest-growing hard liquors.
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May 3, 2021
Small craft brewers and distillers are set to benefit from $225 million in tax relief from July, under new changes to excise tax that will be included in the upcoming federal budget.
Under a plan to “support jobs” in the sector, the excise refund cap for small brewers and distillers will be boosted from $100,000 to $350,000 per year, Treasurer Josh Frydenberg and Assistant Treasurer Michael Sukkar said in a joint statement on Saturday.
Eligible brewers and distillers will also receive a 100% refund of any excise duty they pay, rather than the 60% refund that currently exists up to a cap of $100,000.
Drew Fairchild, co-founder and managing director of Top Shelf International, says he “welcomes” the government’s announcement, which will “undoubtedly” make a difference to businesses in the sector.
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