MMAR 2015 Tax.

G

gb123

Well-Known Member
With the new system comes NEW MMPR tax forms.
What are the tax implications for MMAR patients under the new court injunction?
How much can MMAR patients claim
Can MMAR patients claim at all?

:)
 
G

gb123

Well-Known Member
There's no income to declare with MMAR .
It has taxable expense though
Specifically patients, on a lower income.
 
leaffan

leaffan

Well-Known Member
gb123 said:
There's no income to declare with MMAR .
It has taxable expense though
Specifically patients, on a lower income.
Click to expand...
I thought that ( mmar , dgs ? ) growers in BC that were supplying CCs were court mandated to declare income?
 
G

Gmack420

Well-Known Member
leaffan said:
I thought that ( mmar , dgs ? ) growers in BC that were supplying CCs were court mandated to declare income?
Click to expand...
If you earned it in Canada no matter the legality of how you earned it revenue canada expects you to claim it as income and pay tax on it.
 
G

gb123

Well-Known Member
Im only speaking about pateints. Not DG's but Im sure they have their taxes to work out as well
Sure . include them as well.
 
itsmehigh

itsmehigh

Well-Known Member
Income is income, I have been claiming my income as a DG for the last 5 years. Second line under "any other monies received" on income tax form. Claimed as an independent contractor/consultant. Basically covers your CPP payments, It's like $4k for every $25k earned. Last thing I need is the tax man knocking at my door. Looks a little suspicious making $100k/year for 10 years working in the trades, then not claiming anything for the next 5. Better safe than sorry.

Itsme.
 
Last edited:
G

Gmack420

Well-Known Member
itsmehigh said:
Income is income, I have been claiming my income as a DG for the last 5 years. Second line under "any other monies received" on income tax form. Claimed as an independent contractor/consultant. Basically covers your CCP payments, It's like $4k for every $25k earned. Last thing I need is the tax man knocking at my door. Looks a little suspicious making $100k/year for 10 years working in the trades, then not claiming anything for the next 5. Better safe than sorry.

Itsme.
Click to expand...
Only so much you can do with cash. Paying for big ticket items in cash is going to attract attention.
 
bcbreeder

bcbreeder

Well-Known Member
Yes
leaffan said:
I thought that ( mmar , dgs ? ) growers in BC that were supplying CCs were court mandated to declare income?
Click to expand...
leaffan
Yes if you are found to be growing for a cc by a court they have a special cra program that reviews all the evidence and you
Must file all the income, you can also deduct expenses though as with any farm income, you can set up your depreciation , power etc.
If income is over 30k you owe GST on cc sales to cra
 
You must log in or register to reply here.
Top