The price of alcohol is set to rise in less than a month with a tax increase on tap for Ontario, along with the rest of the country.
in less than a month with a tax increase on tap for Ontario, along with the rest of the country.automatically climbs every year in accordance with the rate of inflation. When it was introduced in 2017, the federal tax on alcohol rose by two per cent. told CTV News Toronto that their prices are based on a variety of factors: the supplier’s price plus federal import and export duties, freight, levies, a standard mark-up, HST and container deposit.
“Our suppliers set their own pricing and have the option to adjust their pricing up or down throughout the year in response to currency fluctuations, federal taxes or freight rate changes, or price changes by their competitors,” an LCBO spokesperson said. Retail price increases are determined by alcohol producers, the provincial liquor board explained. Meaning, price hikes that come into effect on April 1 at Ontario liquor stores will vary product-by-product.
“What we are forecasting is if this goes ahead, the price of a 12 pack in Ontario, given everything going on, would go up about 10 per cent,” CJ Hélie, President of, told CTV News Toronto. That increase would be due to a compilation of cost increases across the board for the beer sector, including the price of barley, corn and transportation, alongside the tax.
At 46%, almost half of beer's retail price are taxes today in Canada, the highest rate in the G7. Japan, with the 2nd highest rate, will reduce their beer taxes in October 2023 and in 2026. The Canadian government is set to raise beer taxes by 6.3% on April 1st.
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