Income Tax Medical Expenses - Medical Cannabis is a Legit Item

[Oldbear]

Came across this today. Its from a Cannabis Clinic who help get people registered. Checked with CRA and its good information.


The money you spend to purchase your Medical Marijuana can be used to lower the amount of income taxes you pay.

1. You must have an official medical document from a licensed physician

2. You must purchase your medical marijuana from a Licensed Producer

3. Save all of your receipts for the year.

4. Claim the cost under eligible medical expenses when filing your tax return.

5. The cost of medical marijuana can be added to other eligible medical costs to lower taxes further.

6. All eligible medical expenses for a spouse and other dependents in a household can be added together and claimed by one individual resulting in even more tax savings.

 

[odam2k]

Would be nice to claim costs for growing your own medical pot. Lights, soil, nutrients, electricity, etc... Perhaps, like a home office, you could claim part of your rent/mortgage? Wouldn't that be nice...

 

[Oldbear]

Would indeed ...

 

[Berulakide]

It would be great, also what is the percentage of the amount you can claim? Just got legal this week. Still 2 acting for first delivery and proof of possession card. I will be going for my grow license as well. My father has his and is able to comercialize. I tried to get him to but it is too expensive, million bucks he was told. He has been growing 40 years or so. I would love to get into that, there needs to be more quality lp here from what I have heard. Relax grower and medical user need to order it is my opinion, reward the big companies.

 

[Oldbear]

Medical marihuana – under proposed changes, the amounts paid for marihuana, marihuana plants or seeds, cannabis or cannabis oil for a person authorized to possess these substances, for their own medical use, under the Access to Cannabis for Medical Purposes Regulations or section 56 of the Controlled Drugs and Substances Act. These substances must also be purchased in accordance with the Access to Cannabis for Medical Purposes Regulations or section 56 of the Controlled Drugs and Substances Act.