Farmers’ Food Donation Corporate Income Tax Credit
The farmers' food donation tax credit is a non-refundable income tax credit to encourage farmers and farming corporations to donate certain agricultural products that they produce in B.C. to registered charities, such as food banks or school meal programs.
The credit is 25 percent of the eligible amount of a farming corporation’s qualifying gifts for the tax year.
Offered by Ministry of Finance
Amount
25 percent of the eligible amount of a farming corporation’s qualifying gifts for the tax year (non-refundable income tax credit)
Quick eligibility check
Who can apply
The credit is available to farmers and farming corporations who make a gift of agricultural product after February 16, 2016.
Farmers and their spouses or common-law partners may also claim this credit.
What kinds of donations are eligible for the tax credit?
To be eligible for this tax credit, your donation must be a qualifying gift. A qualifying gift, among other requirements, must be an agricultural product, which includes 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.
For purposes of this credit, agricultural products only include items that may be legally sold, distributed or offered for sale at a place other than the premises of the producer as food or drink intended for human consumption.
To what extent can I process the agricultural product I am donating?
An agricultural product can be processed no more than to the minimum extent necessary so that, in B.C., the item is permitted to be legally sold, distributed or offered for sale at a place other than the premises of the producer of the item as food or drink intended for human consumption.
What groups can I donate to if I want to get this tax credit for my donation?
Donations must be made to an eligible donee.
To be an eligible donee, an organization must be a registered charity that is engaged in the provision of food to persons in B.C. without charge. The organization must provide free food mainly to those in need or it must help operate a school meal program.
About the funding
The farmers' food donation tax credit is a non-refundable income tax credit to encourage farmers and farming corporations to donate certain agricultural products that they produce in B.C. to registered charities, such as food banks or school meal programs.
The credit is 25 percent of the eligible amount of a farming corporation’s qualifying gifts for the tax year.
The farmers’ food donation tax credit is in addition to any charitable and other gift tax credit claimable.
Claimed through the Canada Revenue Agency on your corporate tax return.
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