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

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Cigarette prices are displayed at a convenience store on August 1,... News PhotoAustralia,Business,Cigarette,Convenience,Finance,Healthcare And Medicine,Horizontal,Price,Store,SydneyPhotographer Collection: Getty Images News 2013 Getty ImagesSYDNEY, AUSTRALIA - AUGUST 01: Cigarette prices are displayed at a convenience store 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)