Sunday, June 1, 2025

Latest

Canadian Government Pockets Nearly Half of Legal Cannabis Revenue

A recent report from Statistics Canada revealed that the Canadian government is reaping a significant portion of the revenue generated from legal cannabis sales. According to the figures shared on April 19, two out of every five dollars spent on legal cannabis in Canada from 2022-2023 went directly to government coffers.

The federal and provincial governments collectively received a staggering $1.9 billion from cannabis sales in the most recent fiscal year, marking a nearly 25% increase from the previous year. This revenue is generated through various fees and taxes, including the $1 per gram excise tax applied to cannabis sold into provincial markets. 75% of this tax is given to the provinces where the products are sold. 

Additionally, provinces impose their own taxes and fees on cannabis, and many also manage cannabis distribution and/or sales, further contributing to the government’s revenue stream.

The report also highlights that fewer than 10% of adults in Canada consume cannabis on a regular basis. Canadians under the age of 45 are more likely to consume cannabis compared to those who are younger, with about one-third of adults aged 18 to 44 reporting cannabis use in the past 12 months.

The majority of cannabis sales continue to be dried cannabis flower, accounting for approximately 65% of the $4.7 billion in sales in the 2022-2023 fiscal year. However, cannabis extracts saw the most significant growth, with a 59% increase in sales within the category compared to the previous year.


Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

Silver47 x Summa Silver: Creating An Explorer With A Billion Ounce Goal

Alamos Gold Q1 Earnings: The Inside Scoop

Cerrado Gold Q4 Earnings: The Turnaround is Working

Recommended

Silver47 x Summa Silver: Creating An Explorer With A Billion Ounce Goal

Canadian Copper: The $172M Combined Strategy PEA

Related News

Canada’s Housing Starts Show a Steady Increasing Pace in June

As restrictions are gradually lifted Canadians return to work following the height of the coronavirus...

Friday, July 10, 2020, 01:35:00 PM

Canadian Federal Government Releases Fiscal Update Regarding Mounting Coronavirus Costs

As Canada begins the economic recovery phase from the coronavirus pandemic, the federal government has...

Thursday, July 9, 2020, 01:06:49 PM

Canadian Home Prices Were up Nearly 30% in February

Canadian housing prices jumped by yet another record in February, as buyers took advantage of...

Wednesday, March 16, 2022, 04:27:00 PM

After BC, Federal Government to Go After Short-Term Rentals

Inspired by new legislation in British Columbia, the federal government is taking action to address...

Thursday, October 19, 2023, 12:07:00 PM

Canada 2040: 9 In 10 Stay Trapped In The Class They’re Born Into

A newly surfaced report from Policy Horizons Canada, an internal think tank under the federal...

Tuesday, April 22, 2025, 11:27:00 AM