Booze is about to get more expensive in Canada thanks to new federal alcohol tax Canada Tax Alcohol
Canada is just over one month away from implementing a new alcohol tax that, as of this spring, will see an additional"The federal government reintroduced indexation of alcohol excise taxation in 2017 ,"from the Public Health Agency of Canada which, ironically, concludes that taxation doesn't actually reduce overall alcohol consumption or related harms.
And yet, the report authors still conclude that"there is ample scope for increasing excise taxes on alcoholic products in Canada," noting that"the current baseline level of provincial and federal taxation on alcoholic beverages in Canada falls below one-third of the final retail prices of all alcohol beverage types."
Ample scope indeed, it would seem, with the highest alcohol tax rate hike in more than 40 years on deck for 2023. There is a 6.3% increase to federal beverage alcohol excise duties, scheduled for April 1, 2023. This is the LARGEST beverage alcohol tax increase Canada has seen in 40 years.
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