So you’ve got yourself a medical cannabis prescription. Congratulations!
Unlike legal recreational cannabis from your government-authorized retailer, or black market cannabis from other sources, your prescription cannabis can earn you tax credits.
How? Simply save your medical cannabis receipts and claim them as you would all other eligible medical expenses.
For the specifics of your situation, talk to your tax advisor or visit the Canada Revenue Agency’s guide to lines 330 and 331 – eligible medical expenses.
Really, that’s it, but if you’re looking for other ways to save on medical cannabis, here are a few ideas:
Talk to your insurance provider
Contact your health insurance provider to see if your plan offers coverage. Although the majority do not, the list of insurers offering some form of medical cannabis coverage grows daily.
Apply for compassionate pricing
Most licensed producers (LPs) offer discounts for patients living on reduced incomes (the number varies from LP to LP, but typically it’s around $30,000 or $35,000 per year). Call your LP directly, or give us a call to learn more – our patient care team is happy to help.