Most distilleries lodge excise under a periodic settlement permission (PSP), usually monthly. Here's the rhythm.
1. Capture events as they happen
Throughout the month, record every excise-relevant event — spirit entered for home consumption, exports, samples, destructions. Leaving this to month-end is the number-one cause of errors.
2. Reconcile at period close
At the end of the settlement period, total the LAL entered for home consumption and confirm it against your stock movements.
3. Apply the current rate and remission
Multiply LAL by the current per-LAL rate, then deduct your remission up to the $350,000 cap. See how to calculate it.
4. Lodge and pay by the deadline
Submit your return and pay any net duty by the due date. Deadlines are firm.
Common pitfalls
- Using an out-of-date rate (it changes every February and August)
- Forgetting samples or the angel's share
- Reconstructing the month from memory instead of records
With software, the figures are already there at period close — you verify and lodge. More in our excise compliance guide.
This article is general information, not tax or legal advice. Confirm your obligations with the ATO or a qualified adviser.
See it on your own production: Book a demo.