Feds hiking tobacco tax

(QMI Agency file photo)

(QMI Agency file photo)

Bryn Weese, QMI Agency

, Last Updated: 10:03 PM ET

OTTAWA -- Hoard 'em if you got 'em.

Starting Wednesday, the federal government is hiking the excise duty - essentially, an additional federal tax -- on tobacco products by nearly 24%.

That's $4 more for a carton of smokes.

It's expected the increase will add $96 million in additional revenue for the feds this year, and more than $600 million annually after that.

 


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