Employment legislation exempts many farming activities

The Saskatchewan Employment Act governs many aspects of the employer-employee relationship in Saskatchewan. Part II of the act sets minimum employment standards that employers are required to provided to their employers in most circumstances. However, these minimum standards do not apply to certain employees, depending on the nature of their employment. For example, Part II […] Read more

The transition of the family farm to the next generation raises several considerations, and one of the most important is how to transfer the farm in the most tax efficient way for the parents who are transitioning out and the children who are taking over. | Getty Images

Knowledge of capital gains rules vital for farm succession

Farm succession planning is complex. The transition of the family farm to the next generation raises several considerations, and one of the most important is how to transfer the farm in the most tax efficient way for the parents who are transitioning out and the children who are taking over. It’s important to consider Capital […] Read more

It is important to consider whether a family trust can improve your corporate structure or assist in your retirement and/or succession planning. | Getty Images

Discretionary family trust can be beneficial for farmers

Many farmers may have heard about the “tax rollover” rules and the capital gains exemption rules in the Income Tax Act. If applicable, these rules may create beneficial tax positions when a person transfers shares of a farming corporation to their child or to a third party. Their use depends on whether certain conditions are […] Read more