Big news for fishermen


September 22nd, 2009

It’s no surprise to anybody in the Maritimes that this year’s lobster season was a mess. ┬áSuper low prices paid to the fishermen, combined with so-so catches, resulted in some substantial financial pain for fishermen. ┬áSo it was welcome news in June when the Federal department of Fisheries and Oceans announced that they were going to help the fishermen.

And now, finally, we have some real numbers.  The maximum assistance to each fisherman will be $5,000.  To qualify for any assistance, you must have:

  • Held a valid lobster license in both 2008 and 2009.
  • Earned income from lobster fishing in both years.
  • Had gross earnings from lobster landings of an amount equal to or less than $50,000 in 2009.
  • Experienced a drop of at least 25% in lobster sales between 2008 and 2009.
  • Be lobster dependent (lobster catch must be at least 50% of the total value of your landed value in 2008, AND your gross value of lobster landings must have been at least $2,500 in 2009.)

If you meet all these requirements, fill out the form found at the following web address.

http://www.dfo-mpo.gc.ca/fm-gp/peches-fisheries/fish-ren-peche/lobster-homard/sttm-application-mtct-eng.htm

The official name for this assistance program is the Short-Term Transitional Measures assistance.

Filed under: Business tax, Other tips by David Boese 1 Comment »

One response to “Big news for fishermen”

  1. […] read more about this program from my previous posts, click here and here. Filed under: Business tax by David […]

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