Hostels come in various shapes, sizes and situations.  |  Getty Images

Time for a new look at staying in hostels

In 2004, Eric and Karen Olafson of Wynyard, Sask., were planning a trip to Iceland. Both descended from Icelanders and they were looking forward to seeing the homeland, connecting with relatives and making memories. They were not looking forward to what it was going to cost. Iceland is beautiful — and expensive. Their daughter, Marea, […] Read more

Incorporating your farm could cut your tax rate by 75 percent. This strategy is likely the largest tax saving opportunity available to farmers that is most often overlooked. Unsure how to do it? Talk to a financial planner.  |  Getty image

Farming, taxes and retirement

Taxation often makes up the largest expense and accounts for the largest loss of wealth in the lives of many farm families, particularly during retirement years, says Donavon Tofin, a tax specialist with Retiring Farmers in Saskatoon. Over a farming career that spans two, three or more decades, farmers defer income into the latter years. […] Read more

What does your future look like?

If you’re getting ready to retire, visualize what you want your life to look like — and figure out how much it will cost

To plan for retirement, it’s a good idea to think about what you want your retirement to look like. With a clear picture in mind, you can then set goals and figure out what needs to be done to reach those goals. Tim Eggers, field agricultural economist at Iowa State University, has designed a model […] Read more


Cut Knife farmers Bill and Gale Stonehouse made the decision to retire from their farming operation and take up some new activities — hunting and fishing for Bill, walking and crafting for Gale.  |  Shirley Byers photo

Couple make plans for life after farming

Bill and Gale Stonehouse have spent a lot of time lately planning an auction sale. It’s a big step. They’ve been farming since they were teenagers. Bill was 17 and Gale 18 when they married in 1970 and made their home on the Cut Knife, Sask.-area homestead that his grandfather had established in 1912 and […] Read more

When it comes to taxes farmers do get some breaks, from both federal and provincial governments, says David Metzger, senior principal at KPMG in Abbotsford, B.C.
 | Getty photo illustration

Tax breaks come with rules

Taxes are an important element of estate planning. When it comes to taxes farmers do get some breaks, from both federal and provincial governments, says David Metzger, senior principal at KPMG in Abbotsford, B.C. However, he adds that producers must be aware of certain rules regarding eligibility for those breaks. Some taxes vary between provinces. […] Read more


Although about 40 percent of Canadian marriages end in divorce, no one goes into marriage planning for that particular plot twist.

How to survive the big split

Although about 40 percent of Canadian marriages end in divorce, no one goes into marriage planning for that particular plot twist. Nobody wakes up one morning and says, “It’s Tuesday; I think I’ll get a divorce.” Nevertheless, divorce happens. It will have an emotional and financial impact and, if you’re a farmer, it will include […] Read more


Tax changes may affect retirement

Revisions to the Income Tax Act planned for Jan. 1 will change how intangible property, such as dairy and poultry quota, is taxed in Canada. The former Conservative government initiated the changes to the act that deals with intangible property, known as Eligible Capital Property (ECP), and as of Jan. 1, the Liberal government is […] Read more


Coming back to the back 40

The farm home and acreage is often valuable property that is given or willed to children. The children then have to decide whether to keep it, rent it or sell it. Ted Cawkwell, agriculture specialist with the real estate company Remax, said the decision is usually left to more than one child, so renting or […] Read more

Saving for children’s education requires a plan

About the time farm families think of farm succession, they’re probably also thinking of life after high school for their children. Whether the kids are going or staying, post-secondary education is a factor to consider. Because of the whopping cost of tuition and student loans, ideally they will have been thinking about it for a […] Read more