How to Claim Medical Cannabis on Your Taxes

medical cannabis taxes

1-2 minute read

You might not realize but, like any other medical prescription, the Canada Revenue Agency (CRA) allows medical cannabis to be claimed as a medical expense deduction on your federal income taxes. Provided you’re informed and prepared, it’s easy to do. Let’s have a look! 

Who’s eligible?  

If you have a receipt for medical cannabis, which you have bought from a Licensed Producer, you’re eligible! The key is to keep hold of all your receipts. You’ll need them when you’re filing your taxes at the end of your tax period.  

How much can you claim?  

You can claim the entire amount you paid for your medical cannabis. Whether it’s dried flower, oils, concentrates, topicals or edibles. However, you can’t claim on accessories. For example, you can claim on a concentrate cartridge but not a vaporizer battery. This also excludes pipes, rolling equipment or items for storage.   

How do I file for my medical cannabis?    

When you file your Tax Returns calculate the total amount you’ve spent on medical cannabis in that tax period. You can then add this to amount to any other medical expenses that you plan to claim on your T1 Income Tax and Benefit Return. At the end of the tax year, submit your receipts or, if you file online, enter your medical expenses in the deductions and credits section.  

How much will be deducted? 

Your total medical expenses minus the lesser of $2,268 or 3% of your income after taxes. Every province has different tax laws and policies so don’t forget to check and follow your provincial guidelines.  

If you have any questions, please don’t hesitate to get in touch with our Patient Care Team. Call 1-844-312-5143 today. They’d be delighted to help. 

Ready for your medical cannabis prescription?