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

SYDNEY, AUSTRALIA - AUGUST 01: In this photo illustration a man smokes 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)