Weed Tax May Be $1 Per Gram

Marijuana

CBJ — It appears as if legalizing marijuana is going to provide the federal government with every bit as much tax revenue as most people expected — and maybe more.

Anyone planning to purchase legal marijuana starting next year will have to pay the taxman $1 per gram, plus GST.

The proposed federal tax policy will be available for public comment until December 7 as Canada prepares to legalize the controversial drug by next summer.

The plan would add an excise tax of $1 per gram or 10% of the final retail price, whichever is higher. The revenue that is generated would then be split evenly between Ottawa and the provinces and territories.

The taxes would be levied on both on fresh and dried marijuana, pot-infused oils and seeds and seedlings used for home cultivation.

@CanBizJournal

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