Trouble ahead for beer drinkers. The government is gunning for you!
Trouble ahead in Canada's beer economy as 'escalator' tax takes hold
Industry association wants finance minister to scrap annual inflation-linked tax increase on beer
Rajeshni Naidu-Ghelani · CBC News
If beer commercials are anything to go by in Canada, having a cold one is just as much a staple as watching hockey.
But according to new figures released this week by a brewers' association, Canada's once-booming beer economy is facing growing challenges as consumers down a glass of beer that the industry says is "already half empty."
Beer Canada says almost half of what consumers pay right now for the average price of beer is tax, and as the federal tax on beer increases annually starting next April, consumers will have to pay even more for their suds.
The federal tax on domestic and imported beer rose by two per cent last year as part of the 2017 budget. It will continue to increase every year in line with inflation starting this April.
"The federal tax on beer right now is $31.84 per hectolitre, and it will increase to $32.32 per hectolitre, and this will drive up liquor board markups, PST and GST," said Beer Canada spokesperson Brittany Moorcroft. The scheduled 2018 "escalator" tax amounts to a 1.51 per cent increase.
The rest here.
Trouble ahead in Canada's beer economy as 'escalator' tax takes hold - Business - CBC News
Trouble ahead in Canada's beer economy as 'escalator' tax takes hold
Industry association wants finance minister to scrap annual inflation-linked tax increase on beer
Rajeshni Naidu-Ghelani · CBC News
If beer commercials are anything to go by in Canada, having a cold one is just as much a staple as watching hockey.
But according to new figures released this week by a brewers' association, Canada's once-booming beer economy is facing growing challenges as consumers down a glass of beer that the industry says is "already half empty."
Beer Canada says almost half of what consumers pay right now for the average price of beer is tax, and as the federal tax on beer increases annually starting next April, consumers will have to pay even more for their suds.
The federal tax on domestic and imported beer rose by two per cent last year as part of the 2017 budget. It will continue to increase every year in line with inflation starting this April.
"The federal tax on beer right now is $31.84 per hectolitre, and it will increase to $32.32 per hectolitre, and this will drive up liquor board markups, PST and GST," said Beer Canada spokesperson Brittany Moorcroft. The scheduled 2018 "escalator" tax amounts to a 1.51 per cent increase.
The rest here.
Trouble ahead in Canada's beer economy as 'escalator' tax takes hold - Business - CBC News
