Traps to watch for when deferring tax on grain sales

Are you one of many farmers delivering grain to an elevator and delaying tax on the sale until the following year? When using grain deferrals there are a number of tips and traps you should consider. A deferral is when you deliver grain in one year but accept payment for that grain in the following […] Read more

Renting out farmland at retirement has tax implications

Are you approaching retirement? Many farmers consider cash renting their land for more guaranteed returns and simplicity. However, there are major tax issues you need to consider because it could end up costing significant tax dollars. The following are issues to consider for cash renting out personal and corporate farmland. Personally owned land Cash rent […] Read more

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Protect yourself from scammers pretending to be CRA

Have you received a phone call from someone claiming to be with the Canada Revenue Agency demanding payment? Have you received an email from the CRA requesting personal information, such as your social insurance number or driver’s licence? Maybe they even said you were eligible for a refund? If you provided information, you may have […] Read more


Keep in mind these tax planning considerations for 2019

With all of the recent tax changes, you are likely wondering what changes apply to you and how they could affect your tax planning in the upcoming year. Three important changes that may affect your tax planning decisions are accelerated capital cost allowance, tax on split income (TOSI) and passive investment income grinding away your […] Read more

Save money on AgriStability, AgriInvest filing costs

Tired of having a big AgriStability or AgriInvest bill from your accountant? Have you wondered if there is anything you can do to reduce the bill? These programs are complex and it can be difficult to know how to organize your information for your accountant. Luckily, there are some simple ways to improve the efficiency […] Read more


Watch the taxes when offering benefits to employees

Farmers offer a variety of benefits to attract and retain employees. Two common benefits are low-rent housing and interest-free loans. These benefits are a good incentive for employees, but they are considered taxable benefits. You need to be aware of the tax requirements for calculating your employees’ payroll deductions and year end T4 filings. Free […] Read more

Parents who want to help finance their children’s education can invest in a Registered Education Savings Plan or compensate them from the family farm.  |  Getty Image

Parents have options when investing in kids’ education

An education is important for the new generations of farmers. There is a long list of the abilities that education helps to develop, such as making sound business decisions, running technology, applying appropriate agronomic practices and marketing This also provides a potential back-up plan or career to the farm. As parents, what is the best […] Read more

It’s important to plan ahead when paying tax instalments

With the end of the year approaching, the time is coming to plan for your income tax instalments. This article concentrates on tax instalments for farms operating as sole proprietorships. Instalments are a common hit to a farm’s cash flows, and these payments can sometimes come as a surprise. The government requires instalments if your […] Read more


There are ways to get the most out of a farm sale

After putting years of hard work into your farm, it is understandable that you want to get the highest value out of it on a sale. One key to receiving top dollar is planning and ensuring essential items are properly looked after. Planning your corporate structure Having a tangled web of corporations is typically going […] Read more

Younger generation has much at stake in succession plan

There tends to be a large focus on the parents of a family farm when it comes to succession and estate planning. This includes what their exit strategy is and how they plan to fund retirement. But for a successful transition, it is important that the next generation also understands the current decisions and the […] Read more