The Canada Revenue Agency assessed nearly 350 million in excise tax revenue from cannabis sales in the first two years of legalization, according to a report from the CRA.
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Cannabis excise tax. Who cares?
Why should Canadian Cannabis Consumers care about the current cannabis excise tax regime? Canadian’s already pay taxes on most products they purchase, why would cannabis be any different? Â
Everything you need to know about medical cannabis and your taxes
While patients are no strangers to medical expenses, many are unaware of the fact that cannabis can be claimed under certain circumstances. Along with glasses, dental work, and prescription medications, cannabis purchased through a licensed medical provider can be claimed on personal taxes.
Industry pushes back against cannabis tax
In Canada, cannabis is taxed at 10% of the dried flower selling price. Approximatelh 25% of this revenue goes to the federal government, and 75% to a provincial or territorial government. Some are saying the system is broken.
