Alcohol tax fuelling billion-dollar black market
Australia's alcohol industry warns automatic tax increases on spirits are creating a significant black market, with the tax department estimating nearly $1.25 billion in lost revenue during 2024-2025. The situation mirrors the illegal tobacco trade crisis, with illicit cigarettes having grown from 12 per cent of the market in 2017 to more than 80 per cent today. On a $65 bottle of rum, excise and GST currently leave legitimate businesses with less than one-third for costs and profit.
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