COVID-19 has hurt a lot of businesses, and to get through this, some are raising prices and even instituting a COVID-19 surcharge.
This comes when many customers are also being hurt by COVID-19, due to factors such as reduced employment income and loss of jobs.
If not done properly, this could set up for some ugly confrontations between customers and small businesses.
Josh MacEwen discusses when and where COVID-19 surcharges first appeared, in addition to customers’ reactions to them. He also discusses the rationale behind these surcharges and whether your business should implement them.
There are alternatives to a COVID-19 surcharge, the simplest of which is a price increase. Implementing a COVID-19 surcharge brings complications, such as finding an appropriate rate, as there is currently no industry standard. It can also increase the likelihood of receiving a sales tax audit. It soon becomes apparent why an outright price increase becomes more preferable to some than surcharges.
All of this and more is discussed in this segment of Dufferin News.
References – COVID-19 Surcharge
- Orangeville Electorate Group
- Coming to a receipt near you: The COVID-19 surcharge
- Are you willing to pay a COVID-19 surcharge?
- A COVID Surcharge May Be Coming to a Receipt Near You
- Restaurant slammed for ‘COVID-19 surcharge’ on meal
- ‘This is not business as usual’: You may start seeing a COVID-19 surcharge on your receipts
- Be wary of adding a COVID-19 surcharge to your business, experts say
- CFIB – Ontario small business COVID-19 debt almost $50B
- Sales Tax Issues Arise with COVID-19 Surcharges
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