Visit Meaford
Our Meaford office located along the beautiful shores of Georgian Bay and the Bighead River has been servicing clients since 1989. Meaford is home of the famous Scarecrow Invasion and Apple Harvest Craft Festival.
Meaford
The opportunities and pitfalls of farmland ownership
As advisors, we are often asked whether farmland should be held in a corporation or personally. The question arises often in the context of incorporating farming operations. Previous Farm Alerts discussed the merits of incorporating as a way of reducing taxes due to low corporate tax rates and deferral of personal income. It is important to consider the tax impact of current and future transactions involving the farmland to become comfortable in that decision.