Tobacco excise revenue has tanked amid a booming black market. That’s a diabolical problem for the government
- Written by Fei Gao, Lecturer in Taxation, Discipline of Accounting, Governance & Regulation, The University of Sydney, University of Sydney
Tuesday night’s federal budget revealed a sharp drop in what was once a major source of revenue for the government – the tobacco excise.
This financial year, the government expects to earn revenue from the tobacco excise of A$7.4 billion. That’s down sharply from $12.6 billion in 2022–23, and an earlier peak of $16.3...
