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Canada Has Collected $2.9 Billion in Marijuana Taxes




A new report by the Global accounting and auditing firm Deloitte has indicated that marijuana consumer purchases generated over $2.9 billion in marijuana taxes since October 2018 when recreational sales were legalized. At the same time, the industry has generated $3 billion tax dollars for Canada’s most populous province- Ontario. In addition, the industry has added $43.5 billion to Canada’s GDP; $13.3 billion being from Ontario alone.

The report that was produced by Deloitte in partnership with Ontario Cannabis Store also revealed that marijuana jobs in Canada have surpassed the 150,000 mark. This has resulted in a labor income of about $25 billion out of the $43 billion.

For every dollar earned or spent, the legal pot industry adds approximately $1.09 and $102 to Canada’s and Ontario’s GDP respectively. In addition, every million dollars spent or earned in the industry offer employment opportunities to at least four people.

Recreational cannabis was legalized in Canada in 2018. It has been a steep learning curve for the nascent industry with many hard lessons learnt along the way. From this study it is clear that much gain has been made, at least economically.

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Lydia K. (Bsc. RN) is a cannabis writer, which, considering where you’re reading this, makes perfect sense. Currently, she is a regular writer for Mace Media. In the past, she has written for MyBud, RX Leaf & Dine Magazine (Canada), CBDShopy (UK) and Cannavalate & Pharmadiol (Australia). She is best known for writing epic news articles and medical pieces. Occasionally, she deviates from news and science and creates humorous articles. And boy doesn't she love that! She equally enjoys ice cream, as should all right-thinking people.

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