Saskatchewan-based Genesis Grain and Fertilizer is moving ahead with plans to build the first in what it hopes will be a series of farmer-owned fertilizer supercentres. Genesis confirmed Jan. 27 that it intends to build its first fertilizer storage, blending and distribution centre at Belle Plaine, Sask., west of Regina. The proposed $24 million facility, […] Read more
Ag Finance
Monsanto swings to profit on higher South America demand
Jan. 5 (Reuters) – U.S. seed and agrochemical company Monsanto Co, which is in the process of being bought by Germany’s Bayer AG for US66 billion, swung to a quarterly profit, helped by higher demand from South America. Sales of soybean seeds and traits jumped 37 percent as more farmers in South America sowed the […] Read more
Agrium, Potash Corp investors back merger of fertilizer companies
By Nia Williams and Rod Nickel CALGARY/WINNIPEG (Reuters) – Shareholders of Agrium Inc and Potash Corp of Saskatchewan Inc overwhelmingly approved an all-stock merger of the fertilizer producers on Thursday, shifting the focus to U.S. and Canadian regulators. More than 99 percent of Potash investors and 98 percent of Agrium shareholders voted in favor of […] Read more
Canadian dairy Saputo posts bigger-than-expected quarterly profit
Nov 3 (Reuters) – Saputo Inc, one of Canada’s largest dairy producers, reported a 29 percent jump in quarterly earnings on Thursday, more than expected. For its fiscal second quarter, net income rose to C$191.8 million, or 48 cents a share, from $148.6 million, or 37 cents, a year earlier. Revenue during the quarter, which […] Read more
Ag operations caught in crossfire of business tax changes
Large Canadian farms often have multiple corporate structures, such as when parents and grown children and their families are farming together. This has allowed farmers to operate more efficiently and share costs, expenses and capital assets. However, the federal government is amending business tax rules that could affect farm business corporations. Although directed at business […] Read more
Protecting yourself from a lawsuit
You would never wish a lawsuit upon any business. The chance of being sued is likely rare, but the thought of it is stressful. I recently sat down with a farming couple to go over the risks they face outside of their operations. The conversation quickly turned to the farm facing a lawsuit. The question […] Read more
Assessing merits of corporate vs. personal land ownership
Producers who buy land often ask me whether they should purchase it personally or in a company. Professionals used to advise farmers to own their land personally, which made good sense. Owning land personally provides great flexibility when it comes to estate and succession planning and allows producers to use special tax rules such as […] Read more
Executor has important job when administering a will
The will is at the centre of estate planning. It determines how your estate will be carried out. But what happens after you die? What should an executor of an estate watch for? When you plan your estate, think about the role your executor will play to ensure the process is as smooth as possible. […] Read more
Factors to consider for income splitting on family farm
There is a tax advantage to splitting farm income among the members of a family. The more income you have, the higher tax rate you have to pay, so spreading income out among you, your spouse and even your children can have a huge tax benefit. It is fairly common for small business owners to […] Read more
Tax changes affect small business, shareholder loans
The new Liberal government’s first budget is 269 pages. That’s a lot thinner than in previous years, but there is no lack of tax changes. Here are some ways the budget could affect your farm. The former Conservative government had committed to reducing the federal small business tax rate to nine percent from 11 by […] Read more
