Ottawa and the provinces and territories could have another $1 billion a year in tax revenues to split after pot becomes legal next year.
Liberal MP Bill Blair, former Toronto police chief and the Trudeau government’s point man on legalizing marijuana, made public Friday the federal tax proposal for legal pot, kicking off a period of public consultations that ends Dec. 7.
That, Blair said, gives the government just enough time to solicit comments on the proposal so that federal, provincial and territorial finance ministers can discuss it when they meet in Ottawa Dec. 10-11.
The plan would add an excise tax of $1 per gram of marijuana or 10 per cent of the final retail price, whichever is higher, with the revenues to be divided equally between Ottawa and the provinces and territories.
Federal and provincial sales taxes would be applied on top of the excise tax, with the final price tag varying across the country because provinces have different sales taxes.
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SOURCE: Rabson, M. (November 10, 2017). Ottawa proposing legal weed tax of at least $1 per gram, plus GST/HST. CTV News. The Canadian Press. Retrieved from http://www.ctvnews.ca/politics/ottawa-proposing-legal-weed-tax-of-at-least-1-per-gram-plus-gst-hst-1.3672170