The tax man has come knocking at the door of the Cannabis Buyers Club of Canada, and its founder said there will be full compliance from the organization.
Ted Smith, who has run the club for more than 16 years, said it now has a tax bill of more than $147,000 from the Canada Revenue Agency for unpaid HST in the first six months of this year.
“We started to collect HST here in the store around July 28. So, for over a month now, we’ve actually been giving out receipts and collecting HST that we are going to remit to the government.”
He said the club has about 4,000 clients who come to the small storefront on Johnson Street for medical marijuana to help treat various kinds of pain and illnesses.
The new tax reality is bringing structural changes to the operation, Smith said.
“Part of this transformation, of being in compliance with the tax laws, is creation of a new, non-profit society,” he said. “It’s going to be called the original name of this group, the Victoria Cannabis Buyers Club.”
– Read the entire article at Edmonton Journal.