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Cigarette packs hit nearly $40 each as NZ rings in new year with new tax hike

Smokers will be hit even harder in the pockets in 2019, with a 10 per cent excise tax being introduced as of today.

The tax will see the price of a 25-pack of cigarettes creep towards $40, nearly four times the 2006 cost of $11.95.

The move is another aimed towards reducing the number of smokers within New Zealand, which is now believed to be at 16 per cent.

Since January 2010, the Government has increased tobacco excise by at least CPI plus 10 per cent each year. The current series of tax increases are scheduled to end in 2020.

The amount of tax on a cigarette has jumped from 30 cents to 82 cents since 2009.

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    The latest hefty hike is the result of a 10 per cent tax increase on the items. Source: 1 NEWS


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