Regulation Impact Statement Updates
Official website for publishing regulatory impact analysis information for regulatory decisions announced by the Australian Government, COAG and COAG Councils.
Increase in tobacco excises
Regulation Impact Statement – Department of the Treasury
On 31 August 2016, the Government introduced the Customs Tariff Amendment (Tobacco) Bill 2016 and the Excise Tariff Amendment (Tobacco) Bill 2016. The bills increase the rate of excise-equivalent customs duty on tobacco and tobacco products through a series of four annual increases of 12.5 per cent, commencing on 1 September 2017.
A Regulation Impact Statement (RIS) was prepared and certified by the Treasury, and was assessed as compliant and consistent with best practice by the Office of Best Practice Regulation (OBPR).
The RIS estimates the regulatory cost at $300,000 a year. The OBPR has agreed to the increase in regulatory cost.