Australia Tobacco Tax Increase To Raise AUD$5bn Over Four Years

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A cigarette packet with health warning advertising is seen on August... News PhotoAdvertisement,Australia,Business,Cigarette,Corporate Business,Danger,Finance,Healthcare And Medicine,Horizontal,Packet,SydneyPhotographer Collection: Getty Images News 2013 Getty ImagesSYDNEY, AUSTRALIA - AUGUST 01: A cigarette packet with health warning advertising is seen on August 1, 2013 in Sydney, Australia. In a plan announced today, the government will increase the excise on tobacco by 12.5 per cent annually over the next four years, raising over AUD$5 billion. The hike is estimated to increase the cost of cigarettes by AUD$5 by 2016, and is the first increase in the tobacco excise since 2010. (Photo by Cameron Spencer/Getty Images)