220
1 It should be noted that this restriction is harsher than that applicable to Registered Retirement Savings Plans (“RRPSs”). Due to a specific exclusion in the tax rules governing RRSPs, income and gains realized from qualified investments in an RRSP are tax exempt even if the RRSP was carrying on a business (e.g. day trading securities). See paragraph 1.89 of Income Tax Folio S3-F10-C1, Qualified Investments – RRSPs, RESPs, RRIFs, RDSPs and TFSAs.
By: Matt Maurer and Whitney Abrams,
Minden Gross LLP
THE CANADIAN
CANNABIS
REGULATORY
REGIME:
On November 21, 2017, the Canadian Government released a consultation paper that contains regulatory proposals for the implementation of legal recreational cannabis. Although Bill C-45, the Cannabis Act, (the “Act”) is a comprehensive piece of legislation, many of the key elements of the new law will be contained in the regulations which have yet to be drafted.
Although the Government has indicated that the regulatory proposals are not necessarily representative of the final views of the Governor in Council, the Minister of Health or the Govern ment of Canada, they do provide significant insight into what the cannabis regulatory regime may ultimately end up looking like. The Government launched a 60-day consultation paper to solicit feedback from stakeholders and interested parties. The deadline to provide written comments and responses to the consultation paper is January 20, 2018.
PACKAGING
AND LABELLING