Smokes, super and multinationals to deliver $16b Budget savings

Tuesday 19 April 2016

Following a leak yesterday of the Turnbull Government’s post-Budget advertising script, it is understood that the Coalition will target raising taxes on cigarettes, high-end superannuation and a crackdown on multinational tax avoidance in a bid to raise $16 billion in Budget revenue over four years.

The Turnbull Government is expected to copy Labor’s plan to raise the excise on cigarettes, which could see the price of a packet of cigarettes soar to $40, or around $2 a dart.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.