Excise Duty

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Excise Duty

Definition or Meaning

Excise Duty
This is a tax placed on certain goods such as tobacco, alcohol, and petroleum that are made in Australia. Sometimes called ‘sin tax’ it is often used on less desirable products to discourage people using them and to reimburse the government for their negative effects. This is why tobacco is a good example. An equivalent customs duty is levied on imported goods to make sure that costs stay consistent with those locally produced.

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