As we enter mid-March, we’d like to remind everyone that taxes are due Saturday, April 30! Fortunately for legal medical cannabis patients, the Canada Revenue Agency (CRA) has confirmed that medical cannabis is an allowable medical expense when filing taxes. Individuals must have a prescription for medical marijuana from a health care practitioner and then purchase it from a licensed producer.

Completing The Form

The total amount of eligible expenses that you (or your spouse or common-law partner) paid may be entered on your return. To determine the amount your spent on medical cannabis with Tilray, simply follow these steps:
  1. Go to the Tilray homepage and log in.
  2. On the following screen, click on “Start shopping now.”
  3. When prompted, enter your patient number.
  4. On the following screen, click on your name in the upper-right corner.
  5. The following screen will display your order history. Simply add together the total of all orders placed in 2015.
    IncomeTax1
  6. In case you need to print or download an individual receipt, you may do so by clicking the “Order Details” button for any individual order. Keep in mind that although the CRA does not require receipts to be sent in with tax forms, they may request them at any time.
    IncomeTax2
Your tax credit is determined by taking the lesser of the preset percentage or a set amount. You can also claim this amount on your provincial or territorial form. The credit is arrived at and applied using a similar method. When filing electronically, remember to keep all supporting documents in the event the CRA asks to see them. If you file by mail, attach all supporting documents to your return.

Source: Turbo Tax