Many people may not know that medical cannabis can be claimed on your taxes every year! That’s right. Just like you can claim prescription medication, glasses and dental work, medical cannabis purchased with a prescription and through a licensed producer like Aurora can be claimed on personal taxes.
What Types of Medical Cannabis Can Be Claimed?
The good news is that all forms of medical cannabis can be claimed. That means:
• Dried flower
• Pre-rolls
• Edibles
• Concentrates
• Oil and capsules
• Vape pens and cartridges
Is There Anything That Cannot Be Claimed?
The keyword here is “medical cannabis.” What this means is that cannabis purchased from recreational stores in Canada DO NOT fall under this category, so these types of purchases cannot be claimed.
Also, you cannot claim accessories, whether they’re meant for consuming or growing cannabis. That means anything like vaporizers, growing lights, seeds, fertilizers, etc., cannot be claimed on your taxes.
What Documents Do I Need to Make a Claim?
First, the most important document you need to make your tax claim is your medical cannabis medical document. If you do not have this, you can reach out to your healthcare practitioner or the cannabis clinic where you initially received your medical cannabis medical document. Next, you need the receipts for all the medical cannabis purchases you made during the year.
How to Get Your Aurora Medical Cannabis Receipts
After each purchase from the Aurora Medical store, a receipt is emailed to you directly. If you don’t have a copy of those receipts, retrieving them from your account via the Aurora Medical store is easy. Just follow these steps:
1) Log in to your Aurora Medical account
2) Click the “Order History” button at the top of the page
3) Select an order
4) Click "Print" to download a PDF version of your receipt
Remember, only cannabis products (such as dried flowers, cannabis oils, edibles, and vape cartridges) can be claimed on your taxes.
Complete Your T1 Form
Along with having a copy of your medical document and the receipts for the medical cannabis purchase, you'll need to know the total amount you spent on medical cannabis over the course of the year. Then, you will enter your total in Line 33099 and follow the steps to calculate your total eligible amount for 2021.
Have Any Questions?
Get in touch with your accountant or the support team of any online tax filing software you may be using to file your taxes if you have questions about claiming medical cannabis. It is best to consult with them if you are unsure how to proceed.
If you still have any questions or want to learn more, you can call our Client Care team at 1-877-9AURORA MEDICAL (1-877-928-7672) or email askus@auroramedical.com.