New tax credit bill proposed for Canadian craft breweries
Windsor, ON – A bill proposing a new tax credit for Canada’s craft breweries has been tabled by Brian Masse, an NDP MP in Windsor, reports the CBC.
Brewers producing 5,000 hectolitres of beer or less annually would receive an automatic tax credit, while those producing between 5,001 – 15,000 hectolitres would receive a credit based on a formula.
“Masse, the NDP’s small business critic, is introducing the bill with fewer than 11 weeks left in the sitting calendar before the summer break. Because non-Cabinet ministers have fewer chances to bring forward bills for debate, Masse’s bill isn’t likely to get anywhere before Parliament prorogues for the federal election, which must be held by Oct. 19,” writes the CBC.
“This tax credit will allow these entrepreneurs to produce more, hire more and generate more revenue that will go right back into helping their small businesses and drive the Canadian economy,” said Masse.
Related Posts:
Toronto Distillery Co closes down distillery →
New distillery tax major blow to Ontario’s craft distilleries →
Distillery bill to lower tax on spirits shot down →
