Price of Wine Increases in Ontario Today
The LCBO wine markup tax is increasing by 2 per cent today – the first of four tax hikes on wine
By Canadian Taxpayers Federation —— Bio and Archives--June 20, 2016
Canadian News, Opinion | Comments | Back To Full Article
TORONTO, ON: The Canadian Taxpayers Federation (CTF) is calling on the government to reverse today’s 2 per cent hike in ad valorem tax in wine. Premier Wynne announced the tax increase, which is applied as a markup by the LCBO in her 2016 budget. The tax is moving from its current rate of 65.5 per cent to 67.5 per cent for Ontario wine, and from 71.5 per cent to 73.5 per cent for imported wine.
“Wine in Ontario is already taxed at high rates, and the LCBO markup alone is eye-popping. But for this spending addicted government, taxing a product at over 70 per cent isn’t enough, apparently they need to hike the taxes even higher,” said CTF Ontario Director, Christine Van Geyn.
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