Albo’s new tax on ciggies: Anthony Albanese’s government announces THREE tobacco tax hikes in the Budget
- Price hikes will raise $3.3billion in revenue
- The first rise comes in on September 1
The Albanese government has announced three tobacco price hikes will be in next week’s Federal Budget, raising $3.3billion in revenue.
‘Tax on tobacco will be increased by 5 per cent per year over the next three years starting on September 1,’ Health Minister Mark Butler said on Tuesday afternoon.
‘We know that a higher price cigarette is a more unattractive cigarette. We will also align the tax treatment of tobacco products so that products like roll your own tobacco and manufactured sticks are taxed equally.
Mr Butler said the changes will raise an additional $3.3billion over the coming four years, including $290million in GST payments to the states and territories.
He said it would help ‘to support our health system and the health of current and former smokers and vapers’.
More to come…
The Albanese government has announced three tobacco price hikes will be in next week’s Federal Budget, raising $3.3billion in revenue. A woman is pictured smoking