21:33:40 EDT Tue 07 May 2024
Enter Symbol
or Name
USA
CA



Molson Coors Canada Inc
Symbol TPX
Shares Issued 9,362,866
Close 2024-03-11 C$ 88.61
Market Cap C$ 829,643,556
Recent Sedar Documents

FP says Molson hears brewers getting tax relief

2024-03-12 08:45 ET - In the News

The Financial Post reports in its Tuesday edition that Finance Minister Chrystia Freeland announced tax relief for Canada's small breweries ahead of a deadline that would have seen certain duties on domestic beer, wine and spirits more than double. The Post's Christine Dobby writes that the government is proposing to cap an inflation adjustment for excise taxes charged on domestically produced beer, spirits and wine at 2 per cent for the next two years, Ms. Freeland said on Saturday, extending a similar limit implemented last year. It was previously set to increase to 4.7 per cent as of April 1. Ottawa will also cut by half the excise duty rate on the first 15,000 hectolitres (264,150 cases) of beer brewed in Canada for two years. This should give craft brewers an average of about $87,000 in tax relief, according to the statement. Some 94 per cent of Canadian brewers have total production below that level. The changes will cost the government $153-million over two years, according to the Department of Finance, which said they "will be included in a legislative vehicle soon." The proposed changes, which still need to be passed in Parliament, come after the beer industry lobbied for relief for a second year in a row.

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