Smokers lighting up today face a significant tax hike as the price of a pack is set to rise between $1.12 and $2.81.
Changes implemented by the former Labor government and retained by the Coalition will see the tobacco excise increase by 12.5 per cent, along with the regular twice-yearly indexation based on average weekly ordinary-time earnings.
The rise will add $1.12 in tax to a pack of 20 cigarettes, $1.41 to a pack of 25, $1.69 to a 30 pack, $2.25 for a pack of 40 cigarettes and $2.81 to a 50 pack, The Australian reports.
A pack a day smoker (25 cigarettes) will be forced to pay an additional $9.87 per week in tax.
The excise is the second of four tax increases imposed by the former Labor government which will generate $5.3 billion over four years. The final two rises will occur in September 2015 and September 2016.
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.