Food Bank Tax Credit for Farmers guidelines

How the Food Bank Tax Credit for Farmers works and what criteria you need to meet to claim the tax credit.

The Food Bank Tax Credit for Farmers is a non-refundable income tax credit for individuals or corporations that carry on the business of farming and donate agricultural products to eligible food banks in Nova Scotia. The tax credit is 25% of the fair market value of agricultural products donated and is available for donations made on or after 1 January 2016.

This document provides details on the terms and conditions of the tax credit and eligible donations.

Information includes:

• tax credit overview
• eligible individuals and corporations
• qualifying donations
• eligible agricultural products
• eligible food banks
• how to determine fair market value of an agricultural product
• receipts from eligible food banks
• how to calculate the tax credit
• how to claim the tax credit