Explanatory Memorandum
(Circulated by authority of the Treasurer, the Hon. P.J. Keating, M.P.)FINANCIAL IMPACT
The proposal to remove the sales tax exemption for beer is expected to produce revenue of $330 million in 1988-89 and $420 million in a full year.
However, the related reform of the beer excise is expected to produce a decrease in revenue of $730 million in 1988-89 and $865 million in a full year.
The net loss from this proposal is expected to be $400 million in 1988-89 and $445 million in a full year.
Other measures in the proposed legislative package are expected to produce -
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- a net revenue loss of $6.6 million in 1988-89;
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- a net revenue loss of $7 million in a full year; and
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- a decrease of 0.03 percentage points in the CPI.
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