Note: This credit applied only to the 2016 to 2018 tax years. It is no longer available. We keep this summary for reference and for anyone reviewing past returns or historical program details.
What is the #bcfoodtaxcredit ?
If you were a farmer who donated qualifying agricultural products to registered charities (such as food banks and school meal programs) during the program period, you may have been eligible for a tax credit. “Agricultural products may include meat products, eggs or dairy products, fish, seafood, fruits, vegetables, grains, pulses, herbs, honey, maple syrup, mushrooms, nuts or other produce that has been grown, raised or harvested on a farm in B.C.”
This program benefited both farm producers and registered charities to improve food security in the province. The farmers’ food donation tax credit was effective for the 2016 to 2018 tax years. It was a non-refundable income tax credit to encourage farmers and farming corporations to donate certain agricultural products they produced in B.C. to registered charities, such as food banks or school meal programs. The credit was 25% of the eligible amount of a farmer’s qualifying gifts for the tax year. The credit was available to farmers or their spouses or common-
law partners who made a gift of agricultural product after February 16, 2016 and before January 1, 2019.
To learn more (historical):
Read the full article: BC News Release 2016
Summary of the tax credit: BC Gov – Farmers’ food donation (archived)
This post has been prepared for general information purposes. It is not advice. The information presented may not fit your unique situation. Please consult one of our trusted business advisors at RHN CPA for further clarification and interpretation of your circumstances.
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