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The price of some of Australia's favourite beverages could soon skyrocket thanks to tax hikes on booze.
Liquor industry lobby group, Spirits and Cocktails Australia, claims a case of Bundaberg rum and cola could increase by more than $20 over the next decade due to the tax hikes.
The group has called for bi-annual tax increases on pure alcohol to stop for three years to give producers a break.
Twice a year the Australian Taxation Office raise excise duty rates for alcohol and this week announced an increase from $88.91 per litre of pure alcohol to $90.78 from next month
Twice a year the Australian Taxation Office raise excise duty rates for alcohol and this week announced an increase from $88.91 per litre of pure alcohol to $90.78 from next month.
Excise duty refers to the tax manufacturers pay for producing certain goods.
If the trend of recent 'tax hikes' continue the costs of alcoholic goods for Australians is also likely to increase.
Over the next decade the price of a 24 pack of Bundaberg rum and cola could skyrocket to $100
