Tax credit to support farmers, charities

A provincial initiative will give greater access to local food for residents who use food banks and school lunch programs.

A new provincial initiative will give greater access to local food for South Okanagan residents who use food banks and school lunch programs.

The Farmers’ Food Donation Tax Credit was announced March 1 by Dan Ashton, MLA for the riding of Penticton.

“This tax credit provides another incentive for farmers to donate their produce during periods of oversupply,” Ashton said.

“Supporting our local food banks and school lunch programs helps ensure people have access to our region’s world-class agricultural products.”

The credit is worth 25 per cent of the fair market value.

It is available to farmers and farm businesses which donate a qualifying agricultural product to a registered charity.

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.

The credit was introduced with the 2016 provincial budget. It is available for the 2016, 2017 and 2018 tax years. After that time, it will be reviewed.