Here’s what will cost more in Canada starting April 1

If you think the cost of goods in Canada is already high, get ready to pay more for a few more things in the coming weeks.

Starting April 1, some costs will increase across the country, which isn’t good news for your wallet.

According to a recent report from the Canadian Taxpayers Federation (CTF), Canadians will be paying more per litre of gas and per cubic litre of natural gas starting April 1 as the federal carbon tax increase will see the cost of gas go up from 14.3 cents per litre to 17.6 centres per litre across the country.

The gas hikes will vary slightly for Canadians, depending on what province they live in.

British Columbians are expected to pay 17 cents per litre of gas, 21 cents per litre of diesel, and 15 cents per cubic metre of natural gas under the new tax hikes, notes the CTF.

Comparatively, taxpayers in Quebec are under a special carbon tax deal, which means they will pay slightly less, and taxpayers in Saskatchewan will not have to pay carbon tax for electric heat.

In February, the federal government rebranded the carbon tax rebate to the Canada Carbon Rebate and announced the new rebate amounts for the coming year.

The Canada Carbon Rebate returns fuel charge proceeds to Canadians in provinces that have opted for the federal plan entirely or in part.

BC, the Northwest Territories, and Quebec have their own territorial and provincial systems but continue to meet the federal benchmark stringency requirements.

Canadians can also expect to pay more for alcohol, with the alcohol escalator tax increasing for beer, wine, and spirits. Starting April 1, 2024, there will be a 4.7 per cent increase in the federal excise tax on alcohol, which the report estimates will cost taxpayers approximately $100 million over the next year.

Aside from tax increases, remember that April is also tax month. Remember to file your taxes by April 30, and if you need some tips on how to get better returns this year, we’ve got you covered.

With files from Beth Rochester