Income tax Archives - Page 4 of 4

Farm Financial Planner: Manage assets for farm transition

Asset management solves the risk of heavy tax when couple shifts ownership to their son

By Andrew Allentuck June 6, 2016

In western Manitoba, a couple we’ll call Ezra, 58, and Lucy, 56, operate a third generation family farm with 1,280 acres of feed grains, oilseeds and a herd of 60 beef cows. The farm, with a value of $1.25 million plus $100,000 for the farm house, is profitable, but its future is clouded by the […] Read more

Features

Make the least of your farm taxes

It's that time of year again. Here are some farm tax tips direct from the CRA

By Heidi Hofstad April 14, 2016

Canadian farmers of all types — from dairy to fruit to livestock — contribute to the healthy lives of Canadians. The Canada Revenue Agency (CRA) has made filing your taxes easy, so you can save your energy for the harvest. The agriculture and agri-food industry is vital to the economy, and the CRA wants to […] Read more

Livestock, Weather

Drought-related tax deferral zones expand in West

By Grainews Staff, GFM Network News February 2, 2016

More livestock producers in the West who had to sell breeding stock due to drought in the 2015 tax year will be able to defer some or most of that income at tax time. Federal Agriculture Minister Lawrence MacAulay on Tuesday announced more designated areas in all four western provinces where producers will be eligible […] Read more

Columns

Pay off debts before selling the farm

Farm Financial Planner: This Manitoba couple can pay off their debts and look forward to a reasonable retirement

By Andrew Allentuck January 4, 2016

In south central Manitoba, a couple we’ll call Herb and Cathy, both 64, are looking ahead to their future. They have farmed grain for more than two decades and have two children, a son age 40 and a daughter, 42. Each has a career off-farm and neither has an interest in returning to the family […] Read more

Columns

Farm Financial Planner: Finding a comfortable retirement

Farmers can turn marketing board quota and a modest income into a comfortable retirment

By Andrew Allentuck November 12, 2015

In southern Manitoba, a couple we’ll call Herb, 63, and Martha, 60, have a mixed farm with most of their effort and capital invested in producing poultry products for a group of grocery stores in Winnipeg. They operate 310 acres of land surrounding their 10-acre yard with an aging farm house, their 35-year old son’s […] Read more

Livestock, Weather

Tax deferrals kick in for soaked and parched West

By Grainews Staff, GFM Network News December 30, 2014

Ranchers under pressure from this year’s drought in B.C. and northwestern Alberta and excess moisture in western Manitoba and eastern Saskatchewan may get income tax deferrals for their trouble. The federal government on Tuesday released its first list of designated areas for 2014, within which eligible producers who sold breeding livestock may be allowed to […] Read more

China soybean imports hit record June high on strong Brazil shipments

Alberta crop conditions improve: report

U.S. grains: Corn sets contract lows on expectations for big US crop

GFM Network News

China soybean imports hit record June high on strong Brazil shipments

Alberta crop conditions improve: report

U.S. grains: Corn sets contract lows on expectations for big US crop

Tag Archives Income tax

Farm Financial Planner: Manage assets for farm transition

Make the least of your farm taxes

Drought-related tax deferral zones expand in West

Pay off debts before selling the farm

Farm Financial Planner: Finding a comfortable retirement

Tax deferrals kick in for soaked and parched West

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