Introduction

The vaping industry is already feeling the effects of the new Provincial and Federal Excise Taxes that went into effect on July 1, 2024. These tax increases have raised the prices of all vape products containing e-liquid, making it more challenging for vapers to maintain their usual habits. At VapeBid, we are committed to offering you the best savings possible during these times of increased costs. Despite the rise in taxes, we continue to provide affordable options so you can keep enjoying your favorite vaping products.

In this blog post, we’ll break down the impact of the new taxes and explain how VapeBid remains the best place for you to save money on vape products.

What You Need to Know About the New Vaping Excise Tax

As of July 1, 2024, Ontario implemented a new Provincial Vaping Excise Tax to match the existing Federal Excise Tax rate. This dual tax increase applies to all e-liquid products, significantly raising the cost of vaping across the board. On top of this, the Federal government increased the existing excise tax by 12%.

For example, a vape product with 0.1mL to 2mL of e-liquid now faces a combined total of $2.24 in taxes—up from the previous $1.00. Larger volumes will see even higher tax rates, which will directly affect the cost of your favorite vape products.

How VapeBid is Helping You Save Despite Rising Costs

We understand how these new taxes can affect your wallet, which is why we created VapeBid with one goal in mind: making vaping more affordable. Even as taxes increase, we remain committed to offering the best deals on vaping products. Here’s how we’re helping you save:

1. Affordable Prices, Even After the Tax Increase
   At VapeBid, we work tirelessly to keep our prices as low as possible despite the rise in taxes. By leveraging our buying power and working closely with suppliers, we pass on significant savings to you, ensuring that your cost of vaping remains as manageable as possible.

2. Exclusive Promotions and Discounts
   We know that the new taxes may make vaping less affordable for many, so we regularly offer exclusive deals and special discounts to help offset the increased costs. Whether it’s seasonal promotions, flash sales, or member-only discounts, you can always count on VapeBid to provide the best value.

3. Auction System for Even Greater Savings
   VapeBid’s auction system allows you to bid on products, often securing them for a lower price than the standard retail price. This feature helps you save even more and is a great way to reduce the financial impact of the new tax increases.

How the New Taxes Will Impact Your Vape Purchases

With the new taxes in effect, you’ll see an increase in the cost of all vape products containing e-liquid. Here’s a breakdown of the new tax rates as of July 1, 2024:

• Vape Products Containing 0.1mL to 2mL of E-Liquid: Tax increased from $1.00 to $2.24
• Vape Products Containing 2.1mL to 4mL of E-Liquid: Tax increased from $2.00 to $4.48
• Vape Products Containing 4.1mL to 6mL of E-Liquid: Tax increased from $3.00 to $6.72
• Vape Products Containing 6.1mL to 8mL of E-Liquid: Tax increased from $4.00 to $8.96
• Vape Products Containing 8.1mL to 10mL of E-Liquid: Tax increased from $5.00 to $11.20
• Vape Products Containing 10.1mL to 20mL of E-Liquid: Tax increased from $6.00 to $13.44
• Vape Products Containing 20.1mL to 30mL of E-Liquid: Tax increased from $7.00 to $15.68
• Vape Products Containing 30.1mL to 40mL of E-Liquid: Tax increased from $8.00 to $17.92
• Vape Products Containing 40.1mL to 50mL of E-Liquid: Tax increased from $9.00 to $20.16
• Vape Products Containing 50.1mL to 60mL of E-Liquid: Tax increased from $10.00 to $22.40

The Key to Saving: Larger Volumes = Better Price

As you can see, while the taxes are rising, the tax per milliliter decreases for larger volumes of e-liquid. This means that purchasing products with a larger volume, even if it's a disposable vape or a different product format, could result in a better price-per-mL compared to smaller products.

For example, a disposable vape that contains more e-liquid will have a higher upfront cost but lower taxes per mL when compared to smaller disposables. This can ultimately save you money in the long run if you’re willing to buy in larger quantities.

How to Adjust to the New Tax Regime and Save Money

While these tax increases are now a reality, there are still ways you can adjust and save money:

• Choose Larger Volume Products: Since the tax burden decreases on a per-mL basis as the volume increases, you’ll find better value in products that contain more e-liquid. Whether it’s a larger disposable vape or a different type of vape product, opting for larger volumes will help reduce the tax burden per milliliter.

• Stay Updated on VapeBid Discounts: Keep an eye on VapeBid’s website and promotions. We offer regular discounts to help you save on your purchases. From holiday sales to special promotions, we’re always working to make sure you get the best value for your money.

Final Thoughts

The new vaping excise tax is here, and it’s making an impact on prices across the industry. At VapeBid, we’re doing everything we can to make sure you still get the best possible savings, even as prices rise. From offering affordable prices to exclusive promotions and our unique auction system, we’re dedicated to helping you save on your vaping essentials.

If you have any questions or need assistance navigating these changes, feel free to reach out to us. We’re here to help you save and keep enjoying your vaping experience!

Call to Action: Visit VapeBid today to explore the best deals on your favorite products and continue saving, even with the new taxes in place!