TORONTO, ON – At a press conference held this morning at Amsterdam BrewHouse in Toronto, Ontario’s Minister of Finance Charles Sousa highlighted changes to the Small Beer Manufacturers’ Tax Credit that were included in the recently released 2018 Ontario Budget.
According to an accompanying press release, proposed changes to the Credit include “increasing the amount of support for brewers with taxable sales between 75,000 and 200,000 hectolitres, and increasing the worldwide production eligibility for the credit from 150,000 to 300,000 hectolitres.”
This follows last Friday’s announcement by the Ministry of Economic Development and Growth that a grant of $1,330,860 from Ontario’s Jobs and Prosperity Fund has been awarded to Steam Whistle Brewery. The same day also saw an announcement of an investment of $400,000 from the Southwestern Ontario Development Fund into Silversmith Brewing.
In addition, Muskoka Brewery has announced that the changes to the Tax Credit along with a government grant will help to find a $5 million growth and expansion project this year, the largest in the brewery’s history.