While the initial Canadian cannabis tax framework was revealed on Nov. 10, 2017, provincial leaders and industry stakeholders renounced the proposed 50-50 split of cannabis taxes and so federal, provincial and territorial finance ministers went back to the drawing board, announcing the revised Canadian cannabis tax plan on Dec. 11.
Tag Archives: Provinces
OTTAWA, Ont., Dec. 11, 2017 /Weed Wire/ — Canada works best when governments work collaboratively to take actions that are in the interest of all Canadians, strengthen the middle class and help those working hard to join it. Federal, provincial and territorial Finance Ministers met today in Ottawa to build on their productive partnership, discuss issues that are top of mind for Canadians, and make further progress on important joint priorities.
OTTAWA, Ont., Nov. 21, 2017 /Weed Wire/ — The current approach to cannabis does not work. Earlier this year, the Government of Canada introduced Bill C-45, the proposed Cannabis Act, to legalize, strictly regulate and restrict access to cannabis. Bill C-45 aims to keep cannabis out of the hands of Canadian youth and the profits away from criminals and organized crime.
While several provinces have announced their plans for recreational cannabis distribution and retail operations, industry stakeholders have been waiting for an announcement on the Canadian cannabis tax framework and that moment has now arrived.
Canadian Prime Minister Justin Trudeau introduced legislation to legalize recreational marijuana throughout the country, which plans to be in effect on Canada Day (July 1) 2018. Now, many experts have predictions for the Canadian marijuana economy as a result of the cannabis industry becoming legal.
The high-growth industry certainly offers terrific prospects that would be envied by many tech stocks. However, a big hurdle for some investors is investing in “sin stocks,” or what could be perceived as unethical industries and businesses.
Canada is proposing a federal excise tax on marijuana to help ease the path to legalizing the drug, Prime Minister Justin Trudeau said on Tuesday, drawing a cautious response from provinces that would oversee the process.
Canada’s Finance Minister Bill Morneau is ready to talk Canadian cannabis taxes with the country’s provinces. On May 15, 2017, during a House of Commons meeting for the Standing Committee on Finance, Morneau addressed the Budget Measure Implementation Act and closed his opening remarks with a note on cannabis taxes.