Norm Letnick, Minister of Agriculture –
“You can have the best program in the world, but if no one knows about it its effectiveness is limited. I hope these pictures and other social media postings will increase awareness and result in more donations. I am thankful such a wide range of great tasting and healthy food is grown and raised in British Columbia, as I am for the community spirit and benefits that the agrifoods sector brings to communities across our province. As Thanksgiving approaches, and colder months follow, I challenge B.C. farmers to help spread the word about the B.C. government’s tax credit, and the roles and benefits farmers bring to our communities.”
To increase awareness of the farmers’ food donation tax credit that the British Columbia government announced in Budget 2016, Letnick is reaching out to B.C. farmers to get social, get giving and get an income tax credit.
B.C. produces about 300 different commodities on land and water. Farmers and producers who donate qualifying agricultural products to registered charities (such as food banks and school meal programs) are eligible to receive a tax credit for their donation.
To help people become aware of the program, Letnick is encouraging everyone to post pictures on social media of themselves with agricultural products that are eligible for the credit with the #bcfoodtaxcredit.
The credit is worth up to 25% of the fair-market value of the qualifying agricultural product and must be claimed in the same year that a charitable-and-other-gifts tax credit for individuals or deduction is claimed for the donation by a corporation. The farmers’ food donation tax credit is in addition to the charitable-and-other-gifts credit or the deduction.