Tobacco taxes drop to nine-year low as black-market ciggies boom
January 30, 2025 by afr.com
Tobacco taxes drop to nine-year low as black-market ciggies boom
Tobacco excise revenue has dropped to a nine-year low as smokers increasingly turn to the black market for cheaper cigarettes. Last financial year, the federal government collected only $9.7 billion from tobacco excise—a 40% decrease from the record $16.3 billion in 2019-20 and the lowest level since 2014-15. This has led to calls for stronger enforcement to curb the growing losses.