The Canadian government announced their tax framework for legal marijuana today. Each gram would have a $1 excise tax, on top of GST. Meaning a gram of weed that retails for $8, would cost $10.17. The profits would then be split equally between Ottawa and each province.
A legal ounce of weed, at that price would be just shy of $300 in total. Those that buy their products on the street are likely to pay closer to $200.
The federal tax scheme announced this morning will be available for public comment until December 7th. Marijuana is set to become legal on July 1st and those over the age of 18 will be able to hold up to 30 grams without breaking the law.
The Edmonton Journal is reporting this morning that the Alberta Government will ‘okay’ marijuana sales through private stores. Online sales will be controlled by the Government.