RE:RE:It's TimeUniqueKitty wrote:
SCQuin wrote: https://www.ctvnews.ca/canada/canadians-have-lost-more-than-131-billion-investing-in-cannabis-companies-firm-1.6156722
Priority one has to be a reduction to the Excise tax on recreational cannabis. It appears there is political support for adjusting the excise tax. Committee members seem to be hearing the pleas of the Cannabis Council.
https://cannabisretailer.ca/2022/excise-tax-hindering-cannabis-industry/
Many LPs have already failed to thrive. The Excise tax regulation changes need to happen immediately if the government intends to prevent further damage and promote future stability for this young industry.
The tax regulation resides outside the Cannabis Act. The necessary tax change could happen in short order. A retroactive application of the rule might be enough to serve as a life preserver for many LPs that are failing under the yoke if the current tax structure. The resulting restoration of capital could help float the industry through the the review of the Cannabis Act.
The current legislative session is scheduled to sit daily until December 16, 2022.
It's a long shot but there is time to get it done if the powers that be wish to preserve their baby.
An industry that they brought into existence is imploding before their eyes and by their hand.
This is about the entire Canadian mj space. Not just Auxly !!
The government needs to act NOW !
cheers
If you take the time to reference the links provided you'll see that members of the retail group Cannabis Council are stressing the immediate need for tax revision prior to completion of the review which started 300 days late. According to Mr. Ripa and other members of the industry panel the situation is dire.
The window for online feedback from stakeholders to the cannabis review discussion paper is now closed.
https://www.canada.ca/en/health-canada/programs/engaging-cannabis-legalization-regulation-canada-taking-stock-progress.html
Time is of the essence and there's a lot of information to process moving forward.
There are a lot of people working on this to aid Mr. Rosenberg in making recommendations.
Lots of good information to process in the discussion paper. This is how policy evolves.
cheers