Starting July 1, 2024, there will be an increase in the federal excise tax on vaping products, which has been in place since October 2022. The tax will rise by 12%. Additionally, a new provincial excise tax, following the federal framework, will be implemented in Ontario, Quebec, Nunavut, and the Northwest Territories.
This means that the total excise tax on vaping products stamped after July 1, 2024, will increase by 224%. For instance, the tax on a 30 mL bottle of e-liquid will jump from $7 to $15.68. While several provinces, including British Columbia, Nova Scotia, Newfoundland and Labrador, and Saskatchewan, have had their own provincial taxes on vaping products for years, Ontario, Quebec, Nunavut, and the Northwest Territories will now join them with this new tax as part of a coordinated national framework. Other provinces, such as Manitoba, New Brunswick, Alberta, and Prince Edward Island, are also in the process of establishing similar taxes and are expected to adopt the excise tax framework early next year.
We understand this is not welcome news for vapers, but we believe in being transparent about our pricing. We want to ensure you are informed well in advance of these tax increases.
Take advantage of the current lower prices and stock up now!