According to Agriculture Canada the total value of farmland and buildings in Canada amounted to $427.9 billion in 2016. In the same year, the total value of farm machinery and equipment owned and leased by farm operators added another $53.9 billion to the asset base. The fastest-growing age group in the farm population was operators … Read more
Last updated November 19, 2020. When you’re busy with the harvest, or preparing for the upcoming season, taxes are probably the last thing on your mind. Why worry about taxes now? But tax planning shouldn’t be left until the last minute. Proper tax planning is a year-round process. By planning now, you can take advantage … Read more
The sharing economy is a kind of shadow economy, where private individuals share products or services, either for free or at a cost. Sharing economy arrangements are typically conducted online, through a community-based website. The sharing economy is hardly new. For thousands of years people have shared their assets, but the internet has taken it … Read more
Farming is a very unique business that comes with a large number of tax laws that relate only to farmers. There are a lot of tax management strategies for farmers to take advantage of; overlooking one could easily cost you tens of thousands of dollars. Below are some Canadian farm tax tips to help maximize … Read more
AgriStability – What’s New for 2018 A new 2018 Program was recently announced and, while there were only some minor changes, it is an opportunity for you to evaluate your Ag Risk Management, which includes AgriStability as an option. AgriStability is one of the risk management programs that was offered under the Growing Forward 2 … Read more
The Canadian government has announced a replacement to Growing Forward II, which expired effective December 31, 2017. The new Farm Business Risk Management Program still includes AgriStability and AgriInvest. Farm Business Risk Management Programs The suite of Farm Business Risk Management programs includes: AgriStability: support when producers experience a large margin decline. AgriInvest: cash flow … Read more
As wildfires are still burning in many areas of B.C., and thousands of people remain on evacuation order, the government’s focus will continue to be on fire suppression and emergency social services supports. In the coming weeks, this focus will shift more fully from public safety to recovery. To assist families and businesses in recovering … Read more