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Blog Tax Farming and agriculture
The new capital gains inclusion rate and exemptions
The federal government recently increased the capital gains inclusion rate from 50% to 66.67% on gains above $250,000 for individuals and on all gains for corporations. However, other updates have helped offset this change.
Ryan Kitchen Dec 13, 2024
Blog Farming and agriculture
Changes to the AgriInvest program for 2025
AgriInvest is a valuable program for Canadian farm businesses, offering a savings account shared with the government to manage income loss, invest, minimize risk, and increase income.
Luc Joye Nov 18, 2024
Blog Farming and agriculture
Why more farmers are seeing smaller corporate tax bills
Many farmers in Canada will benefit from changes to the small business deduction (SBD) rules, which took effect for corporate year-ends after April 30, 2023.
Luther VanGilst Sep 19, 2024
Blog Farming and agriculture
The difference between expenses and capital expenditures
It’s important for farm businesses to recognize the tax differences between expenses and capital assets. Repairs are deductible immediately, while capital improvements are depreciated over time.
Deanna Cregg Jul 17, 2024
Blog Farming and agriculture
Data, AI and other tech revolutionizing the farm industry
Farming businesses face unique challenges, but new tools like data and AI are revolutionizing the industry. This article will explore how these technologies are transforming the farm sector.
Candice McKay May 30, 2024
Blog Farming and agriculture
Crop corporation: A solution for excess inventory
Grain production is highly cyclical, with good years followed by challenging ones. But what happens when a producer experiences several good years in a row?
Ryan Kitchen Jan 26, 2024
Blog Farming and agriculture
Pick the right structure for your farmhouse
When buying a farm with a farmhouse as a primary residence, families may overlook the tax implications. This article examines how different farm business structures impact tax obligations for the farmhouse.
Bud Arnold Dec 18, 2023
Blog Farming and agriculture
The end of immediate expensing
Introduced in 2021, immediate expensing rules allowed businesses to fully expense up to $1.5 million annually on eligible property like tractors, combines, and equipment. However, this ends in 2024.
Luther VanGilst Dec 6, 2023
Blog Farming and agriculture
Saving for retirement on the farm
Due to the complexity and constant reinvestment required in farm businesses, retirement planning is often overlooked, leaving little time to focus on saving for the future.
Thomas Blonde Nov 29, 2023
Blog Farming and agriculture
Agri-food incentives you can’t afford to ignore
Agri-food processors and manufacturers have access to valuable government incentives, but navigating the complex requirements is necessary to take advantage of these programs.
Craig Hoover Nov 14, 2023
Business advisory services Private enterprise Succession and estate planning Farming and agriculture
Intergenerational farm rollovers
Family business succession planning involves many components, including family dynamics, leadership training, financial planning, management transition, legal agreements and ⁠–⁠ you guessed it ⁠–⁠ taxes.
Bud Arnold Jan 20, 2023
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