Episode 36 - Farm transfers under the Income Tax Act: Planning for the next generation

Episode 36 - Farm transfers under the Income Tax Act: Planning for the next generation

Farm succession planning involves more than deciding who will take over, it requires careful planning to ensure property is transferred in a tax-efficient way. In this episode, Frankie and Sarah are joined by Jamie-Lee Pearson-Immel, Tax Manager at Baker Tilly, to explore the unique tax rules that apply to qualifying farm property in Canada. 

They discuss rollover provisions, the lifetime capital gains exemption, the “principally used” test, liquidity challenges created by rising land values, and key considerations such as alternative minimum tax and OAS claw back. Whether you’re part of a farm family or advising one, this episode provides practical insight into navigating succession with confidence and clarity. 

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Connect with Frankie Loreto and Sarah Netley

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