Tax Accountant for Cannabis Producers in Ontario and Across Canada
We reconcile your cannabis excise duty — the greater of $1.00 per gram or 10% plus Ontario’s 3.9% adjustment — to the excise stamps you apply and the Form B300 returns you file with CRA, track the Ontario Cannabis Store as the single dominant receivable it is with its promotional allowances and returns separated from revenue, put your extraction and packaging lines in Class 53, your greenhouse in Class 6 and your HVAC, lighting and security in Class 8, cost every lot from mother plant to packaged unit under section 10, and claim SR&ED on your genetics and extraction work. Whether you hold a standard or micro cultivation licence, a standard or micro processing licence or a nursery licence, we handle the excise, HST on the duty-inclusive price, lot inventory, security-cleared payroll with WSIB, and plan the salary, dividends and holding-company structure for your corporation — with AFFORDABLE flat fees.
AFFORDABLE Cannabis Producer Tax Accountant
A licensed cannabis producer cultivates and processes under a Health Canada licence and sells almost everything to the Ontario Cannabis Store, the province’s sole wholesaler, or to another provincial board. The accounting turns on four things. First, excise duty: you hold a separate CRA cannabis licence under the Excise Act, 2001 with financial security posted, duty on dried flower is the greater of $1.00 per gram or 10% of the dutiable amount (federal plus Ontario additional duty) plus Ontario’s 3.9% adjustment, it becomes payable when packaged product is delivered to a purchaser, it is reported on Form B300 monthly (or quarterly for smaller licensees), and every retail unit carries an Ontario excise stamp bought from CRA’s stamp provider. HST at 13% is charged on the duty-inclusive price. Second, capital: extraction and packaging lines are manufacturing equipment in Class 53 at 50% before 2026 and Class 43 after, greenhouses are Class 6, buildings Class 1, and HVAC, dehumidification, LED lighting and security systems Class 8. Third, inventory: mother plants, vegetative and flowering plants, harvested product drying, cured bulk and packaged goods are section 10 inventory costed by lot with cultivation overhead absorbed, and destroyed, failed-testing or recalled lots are written off against Health Canada destruction records. Fourth, one wholesale customer with defined payment terms, price compression, promotional allowances and returns. At Gondaliya CPA, we specialize in excise, lot-level inventory, cultivation and processing CCA and corporate tax planning for cannabis producers, providing AFFORDABLE flat-fee support that keeps you CRA-compliant and stops you paying more tax than you owe.
As a licensed producer accountant, we work with standard and micro cultivators, standard and micro processors, extraction companies and nurseries across Ontario, with year-round support rather than a once-a-year scramble. We tell you plainly what you can deduct, what you cannot, and where the real margin sits after duty on each SKU you ship.
Let us handle the numbers so you can focus on the work that actually pays you.
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Accounting That Understands How a Licensed Cannabis Producer Actually Works
Running a licensed cannabis facility comes with financial pressures a desk-bound business never faces. You remit excise duty on every gram you deliver and account for every stamp, you sell to one wholesaler that sets the price and takes allowances and returns, you carry six-figure grow rooms, extraction and packaging lines that depreciate by class, and you hold living plants, drying product, cured bulk and packaged goods as lot-level inventory. At Gondaliya CPA, we understand the financial reality of a cannabis producer and provide practical, licence-focused solutions across the GTA and all of Ontario.
Stay Compliant and Minimize Your Cannabis Producer Tax
For a licensed producer, staying onside with CRA’s excise program, Health Canada, HST and WSIB and paying the least legal tax are the same job. We keep every B300, HST and T2 filing on schedule while claiming every equipment, inventory and R&D dollar the rules allow, so nothing is missed and nothing invites a reassessment or a threat to your licence.
Accounting & Tax Experts for Cannabis Producers
- AFFORDABLE + Fully Registered CPA Firm
- Business and Corporate Tax Expert
- Small & Medium Business Expert
- Accounting, bookkeeping, and tax filing
- Certified CPA
- 1300+ 5-star Google reviews
- 30-Day Money-Back Guarantee
- 60-Day Fees Matching Policy
Why Choose Our Accounting Services for Cannabis Producers?
Tax Planning — Excise, CCA & SR&ED Expertise
We know the licence: extraction and packaging lines in Class 53 at 50% (Class 43 after 2025), greenhouses in Class 6 at 10%, HVAC, LED lighting and security in Class 8 at 20%, buildings in Class 1. We claim SR&ED on genetics and extraction R&D at the 35% refundable rate and protect the $500,000 Small Business Deduction.
Consulting — Excise, Lot Inventory & OCS Bookkeeping
Our bookkeeping reconciles excise duty to stamps and B300 returns, costs every lot from plant to packaged unit under section 10, separates OCS promotional allowances and returns from revenue, and tracks the receivable. We cost each SKU so you see the real margin after duty and tie HST to revenue.
CRA Representation — Excise & Inventory Audit
When CRA’s excise auditors verify your B300 returns and stamp counts, or income tax auditors question your lot write-offs, cost of sales or input tax credits, we prepare the response, reconcile WSIB, and pursue relief on Form RC4288 where penalties came from a prior error.
Bookkeeping — Payroll, Structure & Sale
We run your security-cleared cultivation and processing payroll with WSIB and EHT, build the holding-company structure that protects surplus cash, use losses efficiently, and get you ready to sell. We model the plan so the $1.25M Lifetime Capital Gains Exemption is available on the eventual disposition.
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Cannabis Producer Clients
Cannabis Producer Tax and Accounting Services in Ontario
Corporate Tax Filing (T2) for Cannabis Producers
Professional T2 preparation with Schedule 8 CCA on your Class 53 processing lines, Class 6 greenhouse and Class 8 HVAC and lighting, excise duty inside cost of sales, lot-level section 10 inventory, and CRA compliance on every line.
Bookkeeping & Accounting for Cannabis Producers
Excise-duty, stamp, OCS-receivable and lot-inventory bookkeeping with financial statements, clean records, and monthly reporting built for a licensed producer.
Payroll Services for Cannabis Producers
Cultivation, processing and packaging payroll for security-cleared staff with WSIB, PD7A remittances, T4s, and Employer Health Tax once payroll passes $1 million.
GST/HST Filing for Cannabis Producers
AFFORDABLE HST filing at 13% on the duty-inclusive price of OCS shipments with full input tax credits on nutrients, lighting, HVAC, extraction equipment and electricity, matched to your T2 and B300 returns.
Tax Planning for Cannabis Producers
Smart tax planning to protect the Small Business Deduction, claim SR&ED on genetics and extraction, time equipment purchases, structure a holding company, use losses, and plan salary, dividends and sale.
Corporate Catch-Up Filing for Cannabis Producers
File overdue T2, HST and B300 years, rebuild missing OCS, excise, stamp and lot-inventory records, and get back into CRA compliance with accurate catch-up support.
CRA Audit Resolution for Cannabis Producers
Expert support for excise verifications, stamp reconciliations, lot write-off, cost-of-sales and HST audits, handled with confidence.
CPA Financial Statements (Notice to Reader) for Cannabis Producers
CPA-compiled financial statements that equipment lenders, banks and investors accept for your licensed producer corporation.
Incorporation Services for Cannabis Producers
Full incorporation including NUANS, articles, share structure, holding-company design, and the section 85 rollover where a nursery or micro-grow started unincorporated.
Catch-Up Bookkeeping Services for Cannabis Producers
We rebuild months of missing OCS remittances, excise duty and stamp reconciliations, lot-inventory movements and equipment records so your producer books are current and CRA-ready.
US Corporation & LLC Tax Filing for Cannabis Producers
A Canadian producer cannot ship cannabis to the United States, so we file the 1120, 1120-F and 5472 returns for ancillary US subsidiaries — hemp/CBD, genetics, equipment or consulting — and model IRC §280E on any plant-touching income.
Voluntary Disclosure Program for Cannabis Producers
We file a VDP disclosure to correct under-remitted excise duty, HST charged on the wrong base or unfiled T2 years before CRA contacts your facility, cancelling penalties and reducing interest.
Accounting & Tax Services Tailored for Cannabis Producers
Real, practitioner-level CPA expertise for standard and micro cultivators, standard and micro processors, extraction companies and nurseries across Ontario — built for how a licensed producer actually runs.
- We prepare your T2 with GIFI on Schedule 100 and Schedule 125, separating OCS wholesale revenue from bulk B2B sales and booking excise duty inside cost of sales in QuickBooks Online, so margins stay visible; one correction reversed a $19,000 CRA assessment.
- We claim capital cost allowance on Schedule 8, placing your extraction and packaging lines in Class 53 manufacturing equipment at 50% for purchases before 2026 and Class 43 after; on one $450,000 line that accelerated roughly $112,000 of first-year CCA.
- We put your greenhouse in Class 6 at 10%, your building in Class 1, and your HVAC, dehumidification, LED lighting and security systems in Class 8 at 20% on Schedule 8, so a $120,000 lighting retrofit is depreciated correctly rather than expensed and clawed back.
- We value your mother plants, vegetative and flowering rooms, drying product, cured bulk and packaged finished goods as lot-level inventory under section 10 of the Income Tax Act in Xero; on one facility that corrected a $38,000 profit understatement.
- We deduct excise duty on the T2 in the period packaged product is delivered to the OCS, tying the expense to the Form B300 returns filed with CRA, so duty is never double-counted; one reconciliation removed $27,000 of overstated expense.
- We post OCS remittances, provincial-board sales, bulk B2B transfers and promotional allowances to separate accounts in QuickBooks Online, keeping the six years of records section 230 requires; on one producer this surfaced $24,000 of unrecorded allowances netted against deposits.
- We track excise duty as its own cost-of-sales line, reconciled monthly to the excise stamps applied and the Form B300 return in Xero, so stamp inventory and duty payable tie out; one reconciliation caught $16,000 of duty remitted twice.
- We maintain lot-level inventory from clone to packaged unit, absorbing nutrients, growing media, electricity and security-cleared labour into each lot under section 10; on one facility rebuilding overhead absorption corrected a $41,000 cost-of-sales error.
- We capture every supplier invoice through Dext so the 13% input tax credit on nutrients, testing lab fees, LED lighting and electricity, claimed on line 108 of your HST return, is never lost; one cleanup recovered $11,200 of ITCs.
- We reconcile the OCS receivable to the wholesaler’s statements each month in QuickBooks, separating price adjustments, returns and promotional allowances from principal; on one producer this exposed $33,000 of returns booked as bad debt instead of revenue reversals.
- We set up cultivation, processing and packaging payroll in Wagepoint, withholding income tax, CPP and EI and remitting on the PD7A by the 15th, so a harvest-week rush never triggers CRA’s 10% late-remittance penalty, worth $1,400 on a $14,000 remittance.
- We register WSIB coverage in the correct rate group for your grow and processing staff, mandatory from the first hire, and reconcile premiums in Wagepoint to the T4 Summary each year; one registration avoided an $18,000 retroactive assessment.
- We track wages for security-cleared staff, quality assurance personnel and the responsible person separately in Wagepoint, so licence-mandated positions are costed into overhead under section 10; on one facility this reallocated $52,000 into lot costs.
- We prepare and file the T4 and T4 Summary slips from your Wagepoint records by the last day of February, avoiding the per-slip penalty CRA applies to late filings; on one 40-employee facility that exposure reached $4,000.
- We manage Ontario Employer Health Tax once annual payroll passes the $1,000,000 exemption, file it alongside the T4 Summary, and reconcile everything to the PD7A in Wagepoint; on one producer this caught $5,100 of unremitted EHT.
- Your dried flower, pre-roll, extract and vape sales to the OCS are taxable at 13% HST under the Excise Tax Act, charged on the duty-inclusive price, so we configure QuickBooks to calculate tax after excise duty; one review found $14,600 of HST undercharged.
- We claim the input tax credits your facility carries, recovering the 13% HST on line 108 for LED lighting, HVAC, extraction equipment and electricity; on one producer we recovered $58,500 of ITCs on a $450,000 Class 53 extraction and packaging line.
- We separate excise duty, which carries no input tax credit, from HST-bearing inputs in Xero, because mixing the two overstates ITCs and invites a reassessment under the Excise Tax Act; one correction avoided a $9,700 clawback.
- We treat the electricity that powers grow rooms, dehumidification and drying as a major input carrying recoverable ITCs, reconciling the HST in QuickBooks; on one facility separating energy from overhead recovered $12,300 of credits buried in expenses.
- We reconcile the HST on your returns to the OCS revenue on Schedule 125 every filing period, because CRA’s matching program compares the two and a producer whose figures disagree is pulled quickly for audit; one reconciliation pre-empted a $21,000 reassessment.
- We set the salary-versus-dividend mix, paying enough T4 salary to build RRSP room while the balance flows as dividends, so combined tax stays near the 12.2% Ontario small-business rate under section 125; on one owner this deferred $26,000.
- We keep active income under the $500,000 Small Business Deduction limit using section 125 and, where associated corporations share the limit, allocate it on Schedule 23 so no dollar is taxed at the general rate; on one group this saved $19,500.
- We file the T661 and Schedule 31 for SR&ED on genetics, cultivation-method and extraction R&D, claiming the 35% refundable federal credit on the first $3 million plus the 8% Ontario OITC; one claim returned $87,000 in cash.
- We time extraction and packaging purchases before fiscal year-end so the half-year rule and the Class 53 or Class 43 rate on Schedule 8 deliver the largest first-year deduction; on one $300,000 buy this pulled forward $75,000 of CCA.
- We structure a holding company above the licensed operating corporation, moving surplus up as tax-free intercorporate dividends under section 112 and purifying it so the shares qualify for the $1.25M Lifetime Capital Gains Exemption; one plan protected $400,000 of gain.
- We reconstruct OCS remittances, bulk B2B sales, excise duty and cultivation costs from bank deposits, wholesaler statements and Form B300 filings across your unfiled T2 years, rebuilding them in QuickBooks so CRA cannot arbitrarily assess; one rebuild cut a $62,000 estimate.
- Late filing costs 5% of the balance owing plus 1% per month up to twelve months under subsection 162(1), so we file your oldest unfiled T2 first to stop the penalty compounding; on one producer this limited penalties to $8,400.
- We file the missing HST returns and reconcile in QuickBooks the 13% charged on the duty-inclusive price of OCS shipments against what was remitted under the Excise Tax Act, so CRA cannot assess back tax; one catch-up cleared a $17,900 shortfall.
- We rebuild the undepreciated capital cost pools across the unfiled years so missed CCA on Class 53 processing lines, Class 8 HVAC and lighting, Class 6 greenhouses and Class 1 buildings is recovered on Schedule 8; one file restored $44,000 of depreciation.
- We reconcile every overdue Form B300 excise return to stamps purchased and product delivered under the Excise Act, 2001, filing them with the T2 catch-up so your cannabis licence and financial security are not put at risk; one file cleared $31,000 of duty arrears.
- When CRA opens an audit, we manage the file and answer the section 10 inventory and excise-duty queries inside the deadlines from QuickBooks, so a one-year review does not expand into three; on one file this contained $48,000 of exposure.
- When CRA’s excise auditors question your Form B300 returns, we reconcile duty paid to stamps applied, packaged product delivered to the OCS and inventory movements, because an unreconciled stamp count is treated as unremitted duty; one reconciliation reversed a $210,000 excise assessment.
- We defend lot write-offs when CRA argues destroyed, failed-testing or recalled product was still saleable, producing Health Canada destruction records, lab certificates and lot ledgers under section 10; on one producer we protected $60,000 of write-offs.
- We answer cost-of-sales reviews with lot-level costing, overhead absorption workpapers, physical counts and Dext supplier invoices, because a deduction disallowed for missing records is lost; on one review this protected $36,000 of claimed cultivation cost.
- We file the Notice of Objection on Form T400A within 90 days of a reassessment under subsection 165(1) and pursue taxpayer relief on Form RC4288 where a prior accountant’s error caused penalties; on one producer this cancelled $9,300 of penalties.
- We prepare the CSRS 4200 compilation engagement financial statements, the Notice to Reader an equipment lender requires across two fiscal years, tied to the T2, before it approves the $350,000 financing on a new Class 53 extraction and packaging line.
- Your compiled statement of financial position presents lot-level plant, drying, cured bulk and packaged inventory under section 10, the OCS receivable and your Class 53, Class 8 and Class 6 assets at net book value; on one file this unlocked $200,000 of financing.
- We build the statement of operations with OCS revenue, promotional allowances, excise duty and cost of sales classified consistently in QuickBooks across two years and tied to the T2, so a lender approves the operating line; on one producer this supported a $150,000 facility.
- The CSRS 4200 communication discloses that no audit or review was performed, and without it the Business Development Bank of Canada rejects the operating credit a producer needs to carry its OCS receivable and section 10 inventory; one NTR unlocked $120,000.
- We deliver the compiled statements within 30 days of receiving your records and the year’s T2 figures, because the surety behind your CRA excise financial security and your equipment lessor both demand current statements; on one deal timely delivery saved a $180,000 Class 53 lease.
- We incorporate your production company under the Ontario Business Corporations Act before the Health Canada licence application, because the licence is issued to the legal entity and the 12.2% rate on the first $500,000 under section 125 applies immediately; one owner saved $22,000.
- We complete the section 85 rollover on Form T2057 where a nursery or micro-cultivator started unincorporated, transferring genetics, equipment, inventory and goodwill at elected amounts to defer capital gains and recapture; on one file this deferred $47,000 of tax.
- We design a holding company and operating company structure so the licensed entity carries only the facility and licence while surplus cash moves up as intercorporate dividends under section 112, protecting savings from operating risk; one structure sheltered $600,000.
- We open the corporation’s CRA Business Number, HST, payroll and cannabis excise licence accounts, arranging the financial security CRA requires under the Excise Act, 2001 before the first packaged delivery; one setup saved a $25,000 first OCS purchase order from cancellation.
- We structure the share classes and set the first fiscal year-end up to 53 weeks after incorporation, so dividends split among family shareholders and the first T2 balance-due date is deferred; one producer freed $21,000 for Class 8 grow-room lighting.
- We rebuild unreconciled OCS remittances, bulk B2B sales and promotional allowances from wholesaler statements and bank deposits in QuickBooks Online, restoring the section 230 record trail; on one producer this recovered $29,000 of allowances netted silently against revenue over two years.
- We reconstruct the lot-level plant, drying, cured bulk and packaged inventory balances you never tracked, absorbing cultivation overhead so cost of sales on each catch-up year reflects product actually shipped; on one facility a rebuilt lot ledger corrected a $35,000 profit overstatement.
- We rebuild the Class 53 processing, Class 8 HVAC and lighting and Class 6 greenhouse CCA pools that went unposted, capturing missed depreciation on Schedule 8 in Xero; on one file this restored $28,000 of undepreciated capital cost.
- We reconcile the months of excise duty that were booked as one lump sum to the stamps purchased, applied and destroyed and to each Form B300 filed, because an unexplained stamp variance is assessed as duty; one cleanup cleared a $23,000 variance.
- We catch up payroll postings and reconcile the PD7A remittances, WSIB premiums and T4 wages that fell behind, so security-cleared staff costs land in the right lot under section 10 and the 13% ITCs flow through Dext; one cleanup reclaimed $6,800 of credits.
- A Canadian licence holder cannot ship cannabis into the United States, so we structure any US presence as an ancillary subsidiary for hemp-derived CBD, genetics licensing, equipment or consulting, filing its Form 1120 with Form 5472 disclosures; one restructuring avoided $40,000 of penalty exposure.
- We apply IRC Section 280E to any US subsidiary that touches the plant, because it disallows ordinary deductions against cannabis income, and we model whether the venture survives that hit; on one proposal the model showed a $95,000 annual tax cost that ended the deal.
- We file Form 1120-F where your Canadian corporation’s US consulting or genetics revenue creates a US trade or business, claiming Canada-US treaty protection on Form 8833 and foreign tax credits on the T2 for US tax actually paid; one filing recovered $12,000 of double tax.
- We handle US LLC filings where an owner holds a US hemp or equipment entity, reconciling its pass-through income to the Canadian T2 and defusing the hybrid-entity mismatch that CRA and the IRS both scrutinize; one correction avoided $18,000 of double taxation.
- We coordinate W-8BEN-E certification so US buyers of your consulting, genetics or equipment services do not withhold the 30% flat tax where the Canada-US treaty reduces or eliminates it; on one licensing agreement this released $9,000 held back at source.
- We file your Voluntary Disclosures Program application on Form RC199 under subsection 220(3.1) before CRA contacts your facility, because a disclosure accepted under the general program cancels penalties in full and grants 50% interest relief; on one producer this waived $14,800.
- We disclose excise duty under-remitted on Form B300 returns, reconciling stamps applied to packaged product delivered under the Excise Act, 2001, so the producer regularizes without penalties or a threat to its cannabis licence and financial security; one disclosure settled $73,000 of duty.
- We correct HST charged on the pre-duty price rather than the duty-inclusive price of OCS shipments through the disclosure, reconciling the 13% shortfall under the Excise Tax Act so your company regularizes without wilful-default penalties; one filing settled $11,400.
- We fold misclassified Class 53 equipment, unsupported lot write-offs and unrecorded promotional allowances into the same VDP submission, so the correction is complete and CRA cannot later reopen years it has already accepted; one combined disclosure cleared $26,000.
- We confirm your disclosure is voluntary, complete and at least one year overdue as the program requires, filing before any audit or excise verification letter arrives, because a producer that comes forward only after CRA contact loses all relief; timely filing saved one owner $9,900.
Cannabis Producer Excise & Tax Check
Six quick questions on your excise duty and stamps, B300 returns, OCS allowances, equipment CCA classes, lot-level inventory costing and SR&ED. No fee shown.
1. Is your excise duty reconciled every month to the stamps you purchased, applied and destroyed?
2. Are your Form B300 excise returns filed and paid on time every period?
3. Are OCS promotional allowances and returns separated from gross revenue in your books?
4. Is your extraction and packaging equipment in Class 53 (or Class 43) rather than a general class?
5. Is every lot costed from plant to packaged unit with cultivation overhead absorbed?
6. Are you claiming SR&ED on your genetics, cultivation-method or extraction work?
Free CPA Consultation for Cannabis Producers
Case Studies: Cannabis Producer Accounting & Tax
Barrie-Area Micro-Cultivator — Excise Reconciliation & Class 53
The problem: A Barrie-area micro-cultivator booked excise duty as one lump-sum expense whenever the CRA payment cleared, with no reconciliation between stamps purchased, stamps applied and the Form B300 returns filed. Its new extraction line was depreciated as ordinary Class 8 equipment, and CRA’s excise program had opened a review because the stamp count and reported duty did not agree.
What we did: We reconciled every stamp purchased, applied and destroyed to the duty on each B300 return, matched duty to cost of sales by lot when product was delivered to the OCS, and reclassified the extraction line to Class 53.
The result:
- Reconciled $210,000 of excise duty to stamps and B300 returns; review closed with no assessment
- $450,000 extraction line moved to Class 53, accelerating roughly $112,000 of CCA
- Duty inside cost of sales by lot; margins visible
London-Area Standard Processor — SR&ED & Destroyed Lots
The problem: A London-area standard processor had spent three years developing proprietary genetics and refining a solventless extraction method without ever filing an SR&ED claim, so the refundable credit was simply left on the table. At the same time, $80,000 of failed-testing lots that Health Canada had already approved for destruction were still carried in inventory at full cost, overstating both the balance sheet and taxable income.
What we did: We documented the genetics and extraction projects, filed the T661 with Schedule 31 for the 35% refundable federal credit plus the 8% Ontario OITC, and wrote off the destroyed lots under section 10 with the Health Canada destruction records as support.
The result:
- SR&ED refund of roughly $87,000 in cash plus the Ontario OITC
- $80,000 of failed-testing lots written off with destruction records
- Corporate tax bill cut materially; three open years amended
Ottawa-Area Licensed Producer — Lot Costing & OCS Receivable
The problem: An Ottawa-area licensed producer had OCS remittances, promotional allowances, product returns and excise duty all netted into a single revenue line, so nobody could say what any SKU actually earned after duty. Plants, drying product, cured bulk and packaged goods were carried as one inventory number that no one trusted at year-end, and the OCS receivable was never aged, so a slow remittance cycle kept surprising the owners.
What we did: We built lot-level inventory costing from clone to packaged unit with cultivation overhead absorbed, separated excise duty, promotional allowances and returns into their own accounts, and set up OCS receivable ageing and a rolling cash-flow forecast in QuickBooks Online.
The result:
- Margin visible by SKU after duty and allowances
- Lot inventory valued under section 10 with a tested year-end count
- OCS receivable aged and forecast; clean, audit-ready books
Our clear, efficient process ensures every step is transparent, building trust and long-term client relationships.
Kickoff (Document Request)
Collect prior T2 returns, Health Canada and CRA cannabis licences, B300 returns and stamp purchase records, OCS statements, lot inventory counts, equipment list, payroll records, and bank statements.
First 30 Days (Cleanup & Setup)
Set up QuickBooks Online or Xero, build the excise-duty and stamp reconciliation, lot-level inventory and OCS receivable schedules, classify Class 53, Class 8, Class 6 and Class 1 assets, and configure payroll and WSIB tracking.
Monthly Close
Monthly reconciliations, receipt capture, lot costing, excise duty to stamps and the B300 return, HST on the duty-inclusive price, and OCS receivable ageing.
Quarterly Planning Review
Salary and dividend mix, HST and excise review, lot inventory and write-offs, SR&ED project tracking, holding-company and loss planning, and equipment purchase timing.
Year-End Close & T2 Filing
Trial balance, financial statements with lot-level inventory and the OCS receivable, T661 where SR&ED applies, T2 with GIFI, and CRA preparation.
Get Your Cannabis Producer Taxes Done Right Today
Affordable Pricing for Cannabis Producers
We believe in clear, upfront pricing so you know exactly what to expect. All fees include HST.
- Tax Preparation (Corporation) — From $400
- Tax Return Filing (Corporation) — From $400
- Tax Compliance Audit — FREE CRA audit support for our clients
- Tax Strategy — FREE for our clients
- Accounting Base Plan — From $100 per month
- Bookkeeping Management — Free for our Accounting clients
- Financial Reporting — Free for our Accounting clients
- Business Formation — Flat $35
- Incorporation Process — Flat $35
- Entity Setup Assistance — Flat $35
- Full-Service Payroll — From $125 per month
Payment is by Interac e-Transfer to info@gondaliyacpa.ca only. Security question: Not Applicable, as auto-deposit is enabled.
Meet Your Lead Cannabis Producer Accountant
Meet your lead cannabis producer accountant. As your excise, inventory and corporate tax adviser, you deal with the same two people every year.
What Our Clients Say
1300+ five-star reviews from licensed cannabis producers and other business owners across Ontario and Canada.
Serving Cannabis Producers Across Ontario
Our CPA team provides specialized accounting and tax solutions for licensed cannabis producers throughout Ontario. We understand how excise duty, stamps and B300 returns, the OCS receivable, cultivation and processing CCA, lot-level inventory and SR&ED actually flow through a producer, what CRA’s excise and income tax auditors look at on a licensed-facility file, and how to put your equipment and inventory in the right place.
Toronto (ON)
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Mississauga (ON)
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Brampton (ON)
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Scarborough (ON)
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Vaughan (ON)
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Oshawa (ON)
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Ottawa (ON)
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Etobicoke (ON)
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Hamilton (ON)
70 Starling Dr, Hamilton, ON L9A 0C5, Canada
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Guelph (ON)
1155 Gordon St, Guelph, ON N1L 1S8, Canada
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Windsor (ON)
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North York (ON)
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Cannabis Producer Accounting & Tax FAQs
Related Industries We Serve
Breweries
- Excise duty and Class 53 production equipment
- Inventory, HST and bookkeeping
- Corporate tax planning and filing
Chemical Manufacturers
- Class 53 processing lines and SR&ED
- Batch inventory, HST and bookkeeping
- Facility CCA and corporate tax filing
Small Businesses
- Corporate tax planning for small businesses
- Business tax filing and financial statements
- Payroll and bookkeeping services
Incorporated Businesses
- T2 corporate returns and GIFI
- Salary, dividend and SBD planning
- Compilation statements and incorporation
Cannabis Producer Accounting & Tax Done Right.
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