From taxes on alcohol to GST on Uber rides: The top seven ways this budget will help or hit your pocketbook

FinancialPost.com
March 22, 2017
David Akin

Sin taxes are going up: You’ll be paying more for both booze and cigarettes thanks to some small increases in the federal excise tax on alcohol and tobacco. The tax on beer, wine and liquor is going up immediately by two per cent — that adds about a nickel to the cost of a case of 24 in Ontario — but will rise with the cost of inflation each and every year. The excise duty on a carton of cigarettes jumps from $21.03 to $21.56.

End of the bus tax credit: Budget 2017 ends the public transit tax credit that allowed commuters to claim a non-refundable tax credit equal to 15 per cent of the cost of their bus or transit passes.

Fertility treatments for gay couples: Budget 2017 clarifies for the medical expense tax credit so that same-sex couples and single people can now claim a credit for expenses related to fertility treatments or the equivalent.

New caregiver credit: As part of a push to streamline the tax system, Budget 2017 replaces the existing Caregiver Credit, the Dependant Credit and the Family Caregiver Tax Credit with what will now be called the Canada Caregiver Credit.

Student loan overhaul: The Canada Student Loans is broadened and expanded. Part-time students will get financial assistance as will students who are parents. And a pilot project will be set up to allow adult workers to get a grant to go back to school.

Taxing tourists: Non-residents and non-resident tour operators used to be able to get a GST/HST rebate for accommodations. No more. That rebate will be repealed.

Uber cheap no more: The federal government says it levelling the playing field for taxi services competing with ride-sharing services like Uber by forcing Uber and others to pay GST and HST just like cab companies do.