GFM Network News


Farmers could benefit financially from this trend

Farmers could benefit financially from this trend

Farm Financial Planner: Urban dwellers pay high prices for small land parcels

There is a trend for city folk to buy country property to get away from the COVID-19 virus, city lockdowns and everything else associated with the world pandemic. It’s a pattern of outmigration from densely populated cities. Farmers are potential beneficiaries. They can sell small parcels at relatively high prices. I have found city folk […] Read more



In this farm couple's case, there are two alternative strategies to cut taxes.

A couple looks for a low-tax route to turn their farm into retirement income

With no kids who want to take on the farm, a low-tax exit strategy is needed

A couple we’ll call Chuck, 68, and Liz, 66, farm 1,000 acres in south-central Manitoba. Their all-grain operation is profitable, but they want out. Their children, two middle-aged daughters, are not interested in farming. That leaves the sale of the farm as the best and only way for the couple to quit the business and […] Read more

Generational transfer and the task of being fair to the other children is complex.

How to keep the farm together, a complex generational transfer

Farm Financial Planner: Parents devise a plan for middle-aged children to keep the farm whole

A couple we’ll call Max, 75, and his wife, Betty, 70, farm 1,000 acres in western Manitoba. They have three children who are 40, 48 and 45 years old. The eldest and youngest have city jobs and no wish to farm. The middle son, who we’ll call Brian, will take over the farm. The issue […] Read more


A couple works out a farm transition plan for three children

A couple works out a farm transition plan for three children

Farm Financial Planner: The plan includes financial security for all, including a son with a disability

A couple we’ll call Max, 86, and Lily, 81, have farmed 480 acres in western Manitoba for the last 60 years. Their eldest son, who we’ll call Sam, now 60, retired from a city job with a solid pension. Sam now farms with his parents. He is the registered co-owner of the home 320 acres […] Read more

Intend to pass on your farm? There’s still time to plan and avoid large taxes

Intend to pass on your farm? There’s still time to plan and avoid large taxes

A farmer discovers a huge tax liability as he plans to transfer the farm to his nephew

In central Manitoba, a man we’ll call Harry, 81, has retired from a former life actively farming what was four quarters of grain. As Harry’s end of life comes into view, he wants to ensure that his sole heir, a nephew we’ll call Sam, does not wind up with a farm reduced or impoverished by […] Read more


The dangers of cheap money

The dangers of cheap money

Interest rates at historical lows could pose future problems for farmers

For farmers burdened with heavy debts, historically low interest rates can seem to be salvation. Lower payments for equipment, for land loans, for bills past due — it’s life support for financially squeezed farms and, for that matter, for most other kinds of business other than banks and other lenders, which can’t get much profit […] Read more

It’s clear that a modest financial base can produce substantial returns late in life with well-managed tax exposure and a view to transfer of assets to the next generation.

Farm Financial Planner: A Manitoba couple generates more income and pays less tax

How the couple secured retirement and transferred their remaining land to their son

In central Manitoba, a couple we’ll call Harry, 80, and Mary, 76, had a mixed grain and beef cattle farm for four decades. They sold the home quarter to their youngest son, taking back a long-term mortgage with favourable terms. They kept 320 acres, which they have rented out to a neighbour. Their plan was […] Read more


Not only are the rules complex and professional fees potentially high, but the programs change often.

Farm Financial Planner: COVID-19 farm relief programs

Programs are blessings in bureaucratic disguise, valuable and complex

Federal relief programs for economic losses caused by the COVID-19 pandemic including job losses, business interruption, nonpayment of wages, unemployment and illness are being addressed by a web of federal and provincial programs. Farmers can benefit from several plans, provided they can document losses and, in some cases, pay back some part of subsidies. What […] Read more

Farm Financial Planner: A COVID-19 plan could save the family farm

Farm Financial Planner: A COVID-19 plan could save the family farm

In a term of illness, a succession plan can provide for farm management

Death may be inevitable, but the new reality of COVID-19 is that it can strike long before the end of a planned retirement. Conventional preparations like having a will and a plan for distribution of farmland and machinery, inventory, and financial assets, such as stocks, bonds and bank accounts, are usually done as distant contingency […] Read more