Governments strike deal for cannabis revenue
The B.C. and federal governments have struck a deal that would see the majority of cannabis revenue flow to the Province.
They’ve agreed to a 75/25 revenue split, with the provinces receiving 75 per cent of cannabis-specific tax revenue.
The federal government has also agreed to a 100 million dollar cap on its share of the tax revenue with any money above that returned to the provinces.
The proposed cannabis specific tax will not exceed one dollar per gram or 10 per cent of the final producer’s selling price, whichever is higher.
The tax will be applied similar to the federal excise taxes on other controlled products like liquor and tobacco.