Ways to Give Tax Receipting for Farmers

Tax Receipting for Farmers

The Food Donation Tax Credit for Farmers was announced in November 2013 as an amendment to the Local Food Act by the Government of Ontario. Under the Federal Income Tax Act, this is a 25% non-refundable tax credit (based on the fair market value of agricultural products) donated by Ontario farmers to a registered charity within Ontario.

In order for a farmer to claim this credit, food banks must issue a gift-in-kind donation receipt which outlines in detail a) the description of the product donated and b) its fair market value. Food banks, in partnership with the farmer, are responsible for determining the fair market value of the donated agricultural product.

Daily Bread will issue one tax receipt based on the total donations received within one calendar year, January 1 – December 31, unless otherwise requested by the donor.