Squiz Shortcuts: The fight against illegal tobacco

The illegal tobacco trade has been back in the news lately, with industry experts saying that organised crime is on track to supply all of our tobacco and nicotine products by 2030… That points to a massive increase in demand for cigarettes and vapes that are smuggled illegally into the country, and it means we’re missing out on a heap of public money that would’ve been raised through tax. So in this Squiz Shortcut, we'll take a look at what's happening with the tobacco industry in Australia, and what’s being done about it… Squiz Recommends:  Reading:  This article published in The Australian (paywall) which quotes that prediction by Philip Morris and the reasons behind it… Watching:  This episode of Border Force from May last year showing just one of the ways illegal tobacco comes into the country… SPONSOR - Squizers can sign up to Revolut, spend and get $40. T&Cs end date and min spend apply. Consider PDS & TMD at revolut.com/AU/. Revolut Payments Australia Pty Ltd (AFSL 517589) SPONSORED - For practical tips, guidance and tools to help you prepare, visit xero.com/paydaysuper Got a suggestion for a Squiz Shortcut topic? We'd love to hear it - email us at hello@thesquiz.com.au ⁠Squiz Shortcuts⁠ is your back story to the big news stories… Want the email version? Sign up for the free Shortcuts newsletter here.