Question. What will the tax structure be like for a for profit medical dispensary in VanCity? (or Not For profit for that matter )
Ok, So I get a 30K shakedown from the City. Do I now report this as a business expense to CRA for my sole proprietorship For Profit (or NFP) Medical Marijuana Dispensary?
Do I Now report that I Increased my Inventory in my first year to 1,200,000 grams at an average of less than $2 a gram, valued at $2,400,000?
Do I report the cost of purchasing these grams from ( Unidentified MMAR Grower)? With no purchase receipts, so therefore Im not able to claim expenses?
Do I report my sales to CRA? This year I sold 1,000,000 Grams, here are the receipts? Here are the tax remittances?
Does the CRA then forward these tax dollars from this Illegal operation to the (Hopefully no longer ) Federal Conservative Government?
Where does this start to make sense?
Here is a conundrum. No Vancity Licenses will be issued this year 2015. They said they just dont have the time with the high number of applications that need to be vetted. But Allard is due very soon. Perhaps October the latest. Supposing the injunction is lifted and the MMAR Growers lose their licenses, what will these businesses look like when they report inventory gains on a medical product with a non legal, unqualified source? I dont know, who wants to roll the dice with a for profit (or NFP)medical cannabis business against the CRA, RCMP, Federal Government, Health Canada, and Judicial System, all the while going against the law openly while a legal regulated structure exists? Very Strange Business Plan.
