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By Susan Mann Published: Better Farming, May , 2013
If passed, a provincial MPP’s private member’s bill to give farmers a non-refundable tax credit for donating excess produce to food banks may encourage more farmers to donate, says Ontario Federation of Agriculture president Mark Wales.
Progressive Conservative MPP Bob Bailey (Sarnia-Lambton) introduced the bill, Taxation Amendment Act (Food Bank Donation Tax Credit for Farmers) 2013, at Queen’s Park on Wednesday. It’s his third time trying to get the proposed legislation passed. It proposes to give farmers a non-refundable tax credit from the Ontario government worth 25 per cent of the wholesale value of their donated agricultural products. The proposal would also allow farmers to carry forward unused tax credits and deduct them for up to five years.