We are all acutely aware the cost of cigarettes in Australia is shockingly high. In fact, according to the cost of living index, is stands at one of the highest in the world.
Treasurer Scott Morrison (Pictured) compounded this last year with his 2016 budget announcement, stating the excise on tobacco products is set to rocket by 12.5% per year between 2017 and 2020, raising an estimated $ 4.7 billion in the process.
The World Health Organisation recommends a tax excise of 70% on a pack of cigarettes, and the move has been billed as a health measure by ministers rather than a financial one…………. Hmm!
The budget papers state: “One of the most effective ways to discourage smoking is to increase the price of cigarettes.
“Increases in tobacco excise over the last two decades have contributed to significant declines in the number of people smoking daily.”
Previous tax increases in 2010 and 2013 have seen cigarette prices in Australia double over the past six years, and the country’s smoking population plummet to less than 15 per cent.
But as we know, many of these ex-smokers have been able to quit tobacco by switching to vaping products, so we thought we’d look at the possible savings that vapers will benefit from.
Looks like the guys and girls over at vaper empire have beaten us to it, so we have added their excellent infographic below.