Federal government set to increase excise taxes by 6.3 per cent
B.C.'s alcoholic beverage producers, who have been pummelled all year by a range of price increases, will have to absorb another cost increase April 1.
The tax's size then gets multiplied when the provincial government adds a mark-up in the price and sells the product at wholesale prices to retailers who then add a profit margin to wholesale prices. The federal government's excise tax on wine is now $0.688 per litre of wine. That translates into $0.516 for each 750-ml bottle of wine that Fitzpatrick produces.
What was originally a $0.516 excise tax therefore becomes a $1.27 cost increase to the consumer because the mark-up and the profit margin amplify the size of that original tax. Simon Brown, who bought Long Table Distillery last summer with his wife Kimberley, told BIV that he is assessing whether to raise his prices.Brown has to include a $4.30 excise-tax cost per bottle of gin that is 44-per-cent alcohol. The government's mark-up on spirits is 124 per cent, so that increases the cost of that initial excise tax to $9.64 per bottle when the product is sold wholesale.
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