Phillip Hudson, 01 February 2016
Motorists will pay 0.3c a litre more tax for petrol from today, increasing the cost of filling a 60-litre tank by 18c.
And drinkers will pay an extra 29c in tax for a slab of ready-to-drink spirits, while the taxman’s share of a bottle of spirits rises by 17c.
The changes, under the half-yearly automatic indexation of excise introduced in the 1980s by the Hawke government, will also add 13c to the price of 24 cans of full-strength beer, while the tax on a six-pack increases by 3c.
The tax office said there was no change to the tax on a glass of beer served at a bar.
Petrol taxes are rising in line with inflation under changes made by the Abbott government to reintroduce fuel indexation after the excise rate had been frozen at 38.1c a litre in 2001 by the Howard government. The change, which was last year supported by Labor after it had initially opposed it, will raise about $3 billion extra fuel tax over four years and more than $20bn more over a decade.
The government struck a deal with the ALP to devote about $1.1bn to regional roads. The excise on petrol and diesel today rises from 39.2c per litre to 39.5c per litre.
A motorist filling a 45-litre fuel tank will pay $17.78 in tax and the government take will be $23.70 when filling up a 60-litre tank.
The tax on LPG will rise by 0.1c per litre to 12.9c per litre.
Spirit drinkers will be the hardest hit, with the tax on 24 cans of ready-to-drink spirits mixed with soft drink rising by 29c to $36.47.
The tax for a single can rises 1c to $1.52 and the tax on a six-pack rises by 7c to $9.12.
The price of a 700ml bottle of spirits will include $21.28 in tax, up by 17c.
The tax on a 30ml nip served over the bar rises 1c to 91c.
The tax on full-strength beer — 4.9 per cent — is unchanged for a single glass or can but rises by 3c to $4.04 for a six-pack and by 13c to $16.15 for 24 cans.
The tax on light-strength beer — 2.7 per cent — rises by 1c for six-pack of cans to $1.43 and by 5c to $5.73 for 24 cans.
Retailers must collect the extra tax but other factors such as competition, business costs, profit margins and the GST could mean prices paid by consumers could be more or less than the excise increase and vary between brands.
Cigarette taxes will rise next month.
Extracted in full from The Australian.