New Federal Tax & Ontario Provincial Tax!
Posted by Tina Cerqueira on
In the 2024 budget the Government of Canada decided they are going to increase the Federal Excise Tax of vaping products by 12% starting July 1st, 2024.
In addition to that, they're also releasing a Provincial Excise Tax of 12% for the provinces of Ontario, Quebec, Nunavut and the Northwest Territories. Meaning retailers must pay attention to which provinces they're shipping to as there are provincial specific excise taxes for the products.
The responsibility of purchasing our products will be completely on the customer. Our shipment times may also be longer than you’re used to, due to this change.
As we clear out our inventory, newly stocked products from July 1st will have the new 12% Federal tax increase applied to them as-well as the Provincial tax.
Retailers supplying to the affected provinces will have until September 31st to switch to the provincially tax stamped products. By October 1st, Ontario retailers MUST sell their province-specific stamped products within their province or penalties will occur.
At VapingStory we do have a plan since we do ship to provinces where only the Federal tax is increasing:
- The Ontario stamped products for the people within the provinces.
- The Federally stamped products for people who live in the provinces where the provincial specific tax was not implemented.
Unfortunately unlike the flavour ban, this is something that we cannot fight against. We do understand our customers frustrations about the prices increasing, we feel it too. We hope this won't stop anyones use in these harm-prevention tools.