Likely to Miss 4/20: Question of How Best to Tax Legal Pot Still a Long Way Off, Morneau Suggests

Article by Lee Berthiaume, The Canadian Press via Financial Post

Likely to miss 4/20: Question of how best to tax legal pot still a long way off, Morneau suggests

The Trudeau government is still wrestling with how to tax recreational pot, even as it indicates it’s poised to introduce long-awaited legalization legislation next month in advance of April 20 — the “Weed Day” popularly known as 4/20.

Finance Minister Bill Morneau said Monday that the feds “haven’t made enough progress” in terms of taxing marijuana and several other issues related to legalizing the drug.

The focus has instead been on making sure weed stays out of the hands of children and criminals, Morneau said during a news conference in Calgary.

“Those are our two key goals as we move forward,” he said.

“The issue around taxation, any of those issues, are very subsidiary to those first two goals, and we’ve not yet gotten to conclusions on those sort of aspects at this time.”

News of the pending legislation — the timing of which, media reports suggest, means recreational pot would be fully legal by July 1, 2018 — pushed up share prices Monday for the country’s large marijuana producers.

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