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Government defeats effort to change succession tax

The federal government has defeated a private member’s bill designed to ease the tax burden on small business owners, including farmers. NDP MP Guy Caron had been pushing the Liberals to pass Bill C-274, which would have amended the Income Tax Act so the transfer of a business to a child or grandchild was treated […] Read more

A new fertilizer centre at Belle Plaine, Sask., is expected to cost $24 million

Genesis plans huge fertilizer supercentre west of Regina

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 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

Government programs help you save money

It’s often difficult for producers to save money outside of the farming operation. Farming requires intensive cash flow management techniques, especially if producers are trying to expand their operations. However, it can be important to try to be diversified and have savings for rainy days. Contributing to a Registered Education Savings Plan, Tax Free Savings […] Read more