Cheers! Feds offer tax relief to beer makers
The federal government is offering some tax relief to the beer industry in Canada.
The inflation-indexed alcohol tax increase will be held at no more than two percent for the next two years.
The tax was put in place in 2017, and was set to increase by 4.7 percent next month.
Restauranteurs across the country warned about the potential consequences of sticking to the original tax numbers.
"Any increase at this very vulnerable time for our industry is just another blow while we're down," said Brenda O'Reilly, the owner of multiple restaurants and a brewery in St. John's, N.L, in a 2023 interview with The Canadian Press.
"It's like death by a thousand cuts."
As well, tax relief is now in place on each brewer's first 15 hundred hectolitres.
That will be a 80 to 90 per cent tax rate reduction.
Rising inflation has taken a swig out of profits, and industry association "Beer Canada" says this will offer significant relief.
With files from The Canadian Press
CTVNews.ca Top Stories
Blaine Higgs 'furious' over sexual education presentation
New Brunswick Premier Blaine Higgs has shared his anger on social media over a presentation in at least four high schools.
Grayson Murray's parents say the two-time PGA Tour winner died of suicide
Grayson Murray's parents said Sunday their 30-year-old son took his own life, just one day after he withdrew from a PGA Tour event.
The dreams of a 60-year-old beauty contestant come to an abrupt end in Argentina
A 60-year-old woman saw her dreams of becoming the oldest Miss Universe contestant in history melt away in a haze of sequins and selfies Saturday at Argentina’s annual beauty pageant.
2 died in plane crash near Squamish, B.C., police confirm
Two people died after a plane went down in a remote area near Squamish, B.C. on Friday, authorities have confirmed.
Kingston, Ont. tenants fed up with lack of action from landlord over broken floor tiles
Joel Felder and Misti Pitcher have been living in their apartment in Kingston, Ont. for over two years, but the past 12 months have been miserable.
Driver, 18, gets $3,000 ticket, 32 demerit points after speeding on Laval boulevard
A young driver received a hefty fine from Laval police after they say he was driving nearly 100 km/h over the posted speed limit.
Are you a loud snorer? You could have sleep apnea
You'll have a lot more energy throughout the day if you get a good night's sleep, but not everyone does due to a medical condition.
At least 15 dead after severe weather carves path of ruin across multiple U.S. states in the South
Powerful storms killed at least 15 people and left a wide trail of destruction Sunday across Texas, Oklahoma and Arkansas during the latest deadly weather to strike the central U.S.
North Korea informs Japan of a plan to launch military spy satellite
North Korea has told Japan it plans to launch a satellite by early next week, an apparent effort to put its second military spy satellite into orbit.