Do you have surplus produce? Want to help your community AND boost your tax savings? BC’s Farmers’ Food Donation Tax Credit makes it a win-win situation – and it’s easier than you might think!
How Does the BC Farmers’ Tax Credit Work?
When you donate your agricultural products to registered charities like the Comox Valley Food Bank, you get a bonus 25% tax credit on top of your regular charitable tax credit.
That’s right – you’re not choosing between credits; you’re getting both!
This doesn’t just help those in need (although that’s pretty awesome). It also helps you maximize your tax benefits while putting your food surplus to good use.
It’s as easy as 1-2-3.
Getting your credit is as easy as pie:
- Donate your eligible food products to a registered charity (like the Comox Valley Food Bank!). You can drop donations off to us Monday – Friday between 8-2 pm.
- We’ll create a donation receipt for you on the spot!
- Claim both credits on your T1 tax return using form BC428.(Link). Remember to hang on to your receipts because you have up to 5 years to claim the credit.
That’s it. No complicated paperwork, no jumping through hoops. Just extra charitable tax credits!
Who Can Claim It?
- Farmers who produce agricultural products in BC
- Your spouse or common-law partner
- Farming corporations (through a separate process)
What Types of Food are Eligible?
Any agricultural products you grow or produce in BC works for this program:
- Fresh fruits and vegetables
- Grains and cereals
- Dairy products
- Meat and poultry
- Pretty much anything you’re farming
Time is Ticking
The program runs until December 31, 2026, so you have time to plan. But remember, you can also claim credits for donations made anytime after February 16, 2016 – so if you’ve been donating already, you might have some retroactive benefits waiting.
Questions?
Still unsure about how this process works? Reach out to us anytime if you’d like to learn more about donating to the Comox Valley Food Bank. We make the donation process simple.
You focus on growing the food, we’ll handle the rest.
Ready to donate and claim your credit? Contact us at communications@comoxvalleyfoodbank.ca to get started.