“A patient can get a prescription for an opioid that has no tax applied, then is reimbursed by provincial drug plans and private insurers. At the same time, cannabis, a substance that for many patients can be an alternative, is discriminated against,” Aurora Cannabis Inc. Chief Corporate Officer Cam Battley told Yahoo Finance Canada in an interview. “This simply strikes us as outrageous.”
The Cannabis Act absorbed the previous medical legislation on Oct. 17 of last year. Under that framework, the government charges an additional $1-per-gram or 10 per cent of the cost on both medical and recreational cannabis, whichever is higher. That’s on top of sales taxes. Do you think @Bill_Morneau will consider this, or dismiss it? Who needs the money more? The federal government, or patients with chronic illnesses trying to get by? Do the right thing, Mr. Morneau. Let’s all get together on this. #DontTaxMedicine pic.twitter.com/FGJr9SyA1pThe ticker also lives on an Aurora-sponsored website called CannabisTaxTicker.com.
“We’re running sleep trials now. We’re trying to show that a combination of cannabinoids works better than say benzodiazepine-based sleep aids, which do not attract taxation if they are given under prescription,” he said. Story continuesPressure on Ottawa to eliminate taxes on medical cannabis is building ahead of the release of the federal budget on March 19.
The finance department added that the Medical Expense Tax Credit can be applied to medical cannabis. In 2019, the tax break will provide a 15 per cent credit on eligible expenses in excess of the lesser of $2,352 or three per cent of net income. CFAMM president Gerald Major started suffering from arthritis at 14 years old. He was eventually forced to step away from a career in finance as senior vice president of operations for Citibank Hedge Fund Services North America.
YahooFinanceCA This is awful! No wonder we can't get it covered under insurance. The only thing that has helped my husband's fibromyalgia pain has been CBD 1:1 oil. It's going to end up costing us at least $100 +tax a month? Single income family?
YahooFinanceCA Are they going to pay the hospital bills as they start rolling in over the next 80 years like was the case of smoking?
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