Feds abandon plan to eliminate deferral option for farmers

The federal government has backed away from its proposal to eliminate the ability for Canadian farm families to manage their tax bill using deferred cash purchase tickets. Given the significant media attention that the federal government’s July 18 tax reform white paper has received, many Canadians may have forgotten the government also proposed eliminating this […] 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

Tax rules for selling quota change in January

Changes to federal tax legislation directed at business will also affect agricultural operations starting Jan. 1. Supply-managed farms that may buy and sell quota stand to see significant increases in their tax rates in the new year. What are the options for someone who owns quota in the dairy, turkey, eggs and meat poultry sectors? […] Read more