The Canadian Federation of Agriculture and BC Agriculture Council have shared key points from the new Federal Budget and the Underused housing tax (see workshop info below). Commitments included are:
- Establish Transportation Supply Chain Office
- Introduce legislation to enable a temporary extension of interswitching limit in prairie provinces
- Additional $34.1 million over three years in new funding to the On-Farm Climate Action Fund to support nitrogen management
- Increase in the interest-free limit for loans under the Advance Payment Program from $250,000 to $350,000 for the 2023 program year
- Launch consultations this summer on the right to repair and the interoperability of farming equipment
In addition, Minister Bibeau followed up with BCAC stating: “the Government of Canada announced their intention to provide transitional relief for farmers in filing their underused housing tax (UHT) return on the ownership of vacant or underused housing in Canada. Transitional relief means that although the deadline for filing the UHT return and paying the UHT payable is still April 30, 2023, no penalties or interest will be applied for UHT returns and payments that the CRA receives before November 1, 2023. More information on what this means for Canadian farmers will follow in the coming days.”