Can I give my receipts to my accountant?
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Does grow gear count as medical supplies if you have a MMAR card?
- Thread starter VagPuncher
- Start date
CareFreeLivin
Member
http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/lns300-350/330/llwbl-eng.html
I would. Depending on how creative you want to get much of the equipment could fall under laboratory expenses. Notice the specific mention of air conditioners and filters. Environment control system seems pretty vague, too. Renovations including electrical work could qualify, too. Shit it seems you could write off damn near anything related to a grow.
Edit: after thinking about this for a moment, if I had a med card I would look into the possibility of setting up a business with a grow licence. This way, you could buy your medicine at fair market price from this business, and these values can be used as a deduction under the marijuana medical expense. If you use 5 grams a day simple math would say that your deduction would be worth (assuming a cost of $10 a gram): 5x10x365 = $18,250, annually. This would be a recurring expense that is likely far greater than the cost of equipment. I'm not sure of the precise legalities involved, but this could save you a ton of cash.
I would. Depending on how creative you want to get much of the equipment could fall under laboratory expenses. Notice the specific mention of air conditioners and filters. Environment control system seems pretty vague, too. Renovations including electrical work could qualify, too. Shit it seems you could write off damn near anything related to a grow.
Edit: after thinking about this for a moment, if I had a med card I would look into the possibility of setting up a business with a grow licence. This way, you could buy your medicine at fair market price from this business, and these values can be used as a deduction under the marijuana medical expense. If you use 5 grams a day simple math would say that your deduction would be worth (assuming a cost of $10 a gram): 5x10x365 = $18,250, annually. This would be a recurring expense that is likely far greater than the cost of equipment. I'm not sure of the precise legalities involved, but this could save you a ton of cash.
Reverend Mojo
Member
