March Sowing Your Financial Future -Carbon Tax increases……should Farmers be worried?Finances with Kirk Newsletter
The Federal Government has pledged to more than triple the price of carbon by 2030. What does that mean for Farmers? According to an article in Glacier Farmmedia “The increase could cost western Canadian farmers millions of dollars a year in extra taxes and increase costs for heating farm buildings, drying grain, moving commodities by rail and buying essential farm inputs, such as fertilizer and machinery.”
If you are a Farmer and you are worried then you might want to check out Bill C-206. This bill just passed it’s second reading on Feb. 24, 2021. This bill has to go through several stages before it becomes law, but if it passes it will amend the current wording in the Greenhouse Gas Pollution Pricing Act to include natural gas and propane as qualifying farming fuels that would be exempt from the federal fuel charge, also known as the Federal Carbon Tax. The bill has now been referred to the Federal Standing Committee on Agriculture and Agri-Food. If you would like to support this bill here is a link to the Canadian Federation of Independent Business (CFIB) page with information on the bill and a link to a petition to sign.