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Alcohol Excise Tax Policy Win
The London Chamber of Commerce is proud to have collaborated with other industry leaders in order to advocate for a change to the annual alcohol excise tax. This tax on alcohol production increases automatically every year and is tied to inflation, with a potential 4.7% increase to the tax on April 1st of this year. Thanks in part to the Chamber’s advocacy efforts in Ottawa in November of this year, the Government of Canada announced that the tax has been capped at a 2% increase for 2024 and 2025. This means that the tax increase has been reduced by more than half which represents savings for both individuals and businesses. The average craft brewery in Canada will save up to $86,952 through tax relief across 2024 and 2025.
