Ottawa addresses ‘income sprinkling concerns’

Farmers aren’t facing the radical restrictions on income splitting with which white collar professionals are coping. However, it’s far from business as usual for the family farm, and farmers need to realize that they had better make sure their operations comply with Canada Revenue Agency expectations, say tax experts. “Definitely this round of drafting of […] Read more

Stats point to healthy farm sector: FCC

Farm income and debt figures released last week by Statistics Canada indicate a financially strong sector, said Farm Credit Canada’s chief economist J.P. Gervais. The federal agency holds a sizable chunk of the total $96 billion in outstanding debt as of 2016, but farmers also recorded record realized net income of $8.8 billion, an increase […] Read more

Realized net farm income up again

Realized net farm income has risen for the third year in a row, says Statistics Canada. The agency reported Wednesday that realized net farm income was $8.8 billion in 2016, up 7.6 percent. Realized net income is the difference between cash receipts and operating expenses, less depreciation, plus income in kind. The largest increase of […] Read more

Farm income outlook shines

Falling crude oil prices and the slumping Canadian dollar helped Canadian farmers earn record net cash income last year, says the federal government. Agriculture Canada said in its Feb. 19 Canadian Agricultural Outlook report that income will drop slightly this year but still be historically high. “Our analysis shows that 2015 and 2016 should be […] Read more

Farmers posted record aggregate net cash income last year

Canadian farmers generated a record $14 billion in aggregate net cash income in 2014, according to a new Agriculture Canada report released today. Taken down to the farm level, that’s an all-time high of $78,139 in average net operating income. “It’s something that we’ve been working for all of our careers is to see numbers […] Read more

Farm income sets new record

Canadian farmers are in the midst of an income boom that will soften in the next few years but remain strong by historic standards into the decade. This was the key message of an Agriculture Canada farm income forecast released Feb. 20 that projected Canadian realized net farm income this year at almost $5.3 billion, […] Read more