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Business advisory services Audit and accounting Private enterprise Cybersecurity solutions
Cyber threats to precision agriculture
When I was asked to contribute this article regarding cybersecurity and farming, my mind immediately went to my experiences on the small family farms of my youth, where I helped relatives with haying or cattle and the technology was as complex as an old tractor and square bales. While effective, those tools were nothing like the technologies in use today.
Aug 20, 2020
Green farm land with varying grass lengths creating an interesting organic pattern.
The benefits of starting a single purpose land corporation
Purchasing land is a common activity in any farm business, but these transactions can be handled in several different ways. For a farm business operating as a corporation, the most common approach is to purchase land within the existing corporation.
Jul 28, 2020
Farm Series ( use going forward)
Succession and estate planning
What about a corporate executor?
I would like to revisit some of the points made in the context of appointing a corporate executor, some who is specifically skilled and trained for the role. Why would you want an estate to want a corporate executor?
Steven Frye Jul 20, 2020
Publications-All about estates
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Tax advisory
Bare trust
A bare trust, also referred to as a naked trust, exists where a person, the trustee, is merely vested with the legal title to property and has no other duty to perform or responsibilities to carry out as trustee, in relation to the property vested in the trust.
Steven Frye Jul 8, 2020
Publications-All about estates
Business advisory services Audit and accounting Private enterprise Tax advisory
The exit of a family farm shareholder
When a shareholder of a family farm wishes to exit the farm operation—whether due to retirement, disagreement with other shareholders, or a desire for a lifestyle change—and there is no shareholders’ agreement in place to dictate the procedures for buyout, negotiations are required between the exiting shareholder and the remaining shareholder(s).
Kathy Byvelds Jul 2, 2020
Green farm land with varying grass lengths creating an interesting organic pattern.
Tax advisory
TSFA's and survivor payments: Impact of fair market value
In this space, sometime ago, a fellow blogger wrote about how survivor payments made out of a deceased's tax free savings account (TFSA) to the deceased's spouse TFSA would qualify as an "exempt contribution"... 
Steven Frye Jun 24, 2020
Publications-All about estates
How rental farm property qualifies for the capital gains exemption
If you inherit a piece of farm property and continue the farming activity on that land, you should qualify for the capital gains exemption when you go to sell. However, even if you choose to rent out that property – rather than farm it yourself – you could still qualify if the land you inherit is from a spouse, common-law partner, child or parent (for the purposes of this article, any member of these groups will be referred to as a “family member”).
Jun 10, 2020
Farm Series ( use going forward)
Business advisory services Tax advisory
Low-Interest environment: Time to take advantage again
In past blogs, we discussed income splitting arrangements available to individuals who wish to loan funds to his/her lower income spouse or adult child, or in the case of minor children, a discretionary family trust.
Steven Frye Jun 1, 2020
Publications-All about estates
Business advisory services Audit and accounting Private enterprise Tax advisory
Is it time to consider a “refreeze” transaction?
In times of crisis, people can be opportunistic, and this economic turmoil can allow for certain tax planning opportunities. The current economic downturn caused by the COVID-19 pandemic has negatively affected the valuation of many Canadian businesses. Accordingly, it is wise to revisit any estate freeze transactions that may have been implemented at a time in a prior year when the economy was booming.
May 14, 2020
Dark stormy waters with a big whitecap.
The pros and cons of being classified as a hobby farmer
A full-time farmer gets into the business of farming with the reasonable expectation of profit. When they compile their tax returns, they report all their farm revenue and have the ability to deduct relevant expenses against any revenue on their tax return.
May 13, 2020
Farm Series ( use going forward)
Business advisory services Audit and accounting Private enterprise Tax advisory
Business investment losses
In today's business and social environment, more and more owner-managers are struggling to keep their businesses alive. Many find it necessary to inject capital, including personal funds, into their companies.
Apr 23, 2020
Dark stormy waters with a big whitecap.
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