MASSE INTRODUCES LEGISLATION THAT PROMISES TAX RELIEF FOR MICROBREWERIES
March 11th, 2015 - 3:46pm
FOR IMMEDIATE RELEASE
March 11, 2015
NDP PROMISES TAX RELIEF FOR MICROBREWERIES
OTTAWA – With Canadian microbreweries on the rise, NDP Small Business critic Brian Masse (Windsor West) has introduced legislation aimed at providing tax relief to help these startups find their legs.
“There’s no doubt the popularity of microbreweries is on the rise here in Canada. They’re creating local jobs and providing world class beers to Canadians from coast to coast,” said Masse. “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.”
The legislation would provide a tax credit for Canadian brewers who brewed less than 15,001 hectolitres (HL) in a year – an automatic tax credit for brewers producing 0-5000 HL annually and a formula-specific credit for those producing 5001-15000 HL.
“With a focus on unique flavour and brewing techniques, Canadians are falling in love with their local microbreweries,” explained Masse. “I’m incredibly proud that the NDP are supporting this growing market and our local brewery.”
Microbreweries account for 6% of the market share in Canada; a number that is estimated to triple in the coming years. Dedicated to taking immediate action to encouraging small business job creation, New Democrats believe this legislation takes that commitment one step further to building a balanced economy.
The Text of Masse’s introduction is below.
Mr. Brian Masse (Windsor West, NDP) moved for leave to introduce Bill C-657, An Act to amend the Income Tax Act (small brewery tax credit).
He said: Mr. Speaker, I am pleased to introduce today an act to amend the Income Tax Act (small brewery tax credit). Currently, microbreweries account for 6% of the overall beer market share in Canada, a number that is estimated to triple in the coming years. The bill would effectively provide a tax credit for Canadian brewers who brewed less than 15,001 hectolitres in a year. It is also an automatic tax credit for brewers producing less than 5,000 hectolitres annually and the formula specific to those brewing between 5,001 and 15,001 hectolitres.
New Democrats recognize the importance of taking immediate action to help those breweries thrive. The industry is steadily growing in my riding with Walkerville Brewery, BREW, Motor Craft Ales, Craft Heads Brewing Companying Company and soon Rock Bottom. It is vital that we help these small businesses grow and expand for the future. The bill will do just that. What is good for the breweries will result in reinvestment in our local communities through jobs, training, revenues to drive the Canadian economy for years to come. I would like to thank my colleague from Skeena—Bulkley Valley for his work on the bill as well.
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