What's this SHT about? IKEA Canada Introduces Second-Hand Tax (SHT) Initiative to Save Customers HST the Second Time Around
By shopping in IKEA As-is marketplace, Ontario consumers can prolong the life of products and do more with less.
BURLINGTON, ON, April 2, 2024 /CNW/ - To kick off Earth Month, IKEA Canada announces the launch of "Second-Hand Tax" (SHT): an initiative effective in all IKEA As-is marketplaces across Ontario, in a groundbreaking move to promote sustainability and affordability.
Given the cost-of-living crisis, making life more affordable needs to be a priority. According to the annual IKEA Life at Home report, two thirds of Canadians (67%) are concerned with the general economy and more than half (57%) with household finances. That's made IKEA Canada take a stand, urging consumers to shop sustainable and affordable second-hand options that are good for our planet and their wallets.
IKEA Canada discovered Canadians have been paying tax on second-hand items, even though the tax was already paid the first time around. Second-hand items may have lost their original look, packaging, and price, but they never lose the tax.
To tackle this issue head-on, IKEA is introducing "Second-Hand Tax" or SHT: an initiative that saves customers from paying HST twice. It's simple math. 13% (HST) - 13% (SHT) = 0%*. From April 2-11, 2024, IKEA stores across Ontario will offer SHT to IKEA Family members looking to shop more sustainably and affordably. Every item purchased in the As-is marketplace in-store will be reduced by 13% to offset the tax burden, making shopping circular even more attractive.
"We believe in doing more with less," says Selwyn Crittendon, IKEA Canada CEO and Chief Sustainability Officer. "With our "Second-Hand Tax" initiative, we're making sustainable choices, that also save people money, more attractive to average Canadians. It's our little way of making a big difference."
But SHT isn't a permanent solution. IKEA Canada invites the government and like-minded companies to help them put an end to the double tax on second-hand items, so that all Canadians can shop circular for less.
Signing up for IKEA Family is free and easy on IKEA.ca. To show support for ending the double tax on second-hand items, visit change.org.
Founded in 1943 in Sweden, IKEA is a leading home furnishing retailer, offering a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible can afford them. IKEA Canada is part of Ingka Group which operates 379 IKEA stores in 31 markets, including 16 in Canada. Last year, IKEA Canada welcomed 28 million visitors to its stores and 166 million visitors to IKEA.ca. IKEA Canada operates business through the IKEA vision - to create a better everyday life for the many people and does so through its local community efforts and sustainability initiatives. For more information on IKEA Canada, please visit IKEA.ca.
For media inquiries: Lisa Huie, PR Leader, IKEA Canada, [email protected]
SOURCE IKEA Canada Limited Partnership
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