In Episode 13 of The Truth About Ag podcast, host Evan Shout welcomes Clint Fischer, a South Dakota attorney specializing in farm family transitions and succession. In this discussion, they explore the intricate challenges faced by farm families during ownership transitions and discuss strategies that can help. Fischer is also founder of Braintrust Ag, an… Read More
Category: Succession Planning
The federal government is proposing several tweaks to the capital gains tax changes that were announced in the federal budget in April, that it says are the result of feedback from entrepreneurs, particularly in the tech and farming sectors. The changes, which were detailed in draft legislation released August 12, would make farm property eligible… Read More
Agriculture ministers from seven out of ten provinces are calling on the federal government to immediately reverse changes to the capital gains tax that they say are hurting farmers and the agriculture sector. As of June 25, the annual capital gains inclusion rate – the taxable portion of a capital gain, such as the sale… Read More
Over the past 20 years, the number of young and middle-aged producers in agriculture has seen steep declines, while the number of farmers over 55 has increased. Alberta hopes to reverse that trend and it’s starting with changes to Agriculture Financial Services Corporation (AFSC)’s Next Generation Loan Program (Next Gen). Alberta is expanding eligibility and… Read More
Imagine a game of telephone, where someone shares a phrase with the person next to them and they whisper it to the person next to them and so on until at the end of the line of people, the last person shares what they think they heard. More times than not, something is lost in… Read More
The federal government’s plan to raise the capital gains inclusion rate in less than two weeks will increase the tax bill on the sale of a typical Canadian grain farm by 30 per cent, based on research conducted by Grain Growers of Canada (GGC). Grain Growers has written a letter to Finance Minister Chrystia Freeland… Read More
Six of Canada’s biggest business and industry associations, including the Canadian Canola Growers Association (CCGA), have written a joint letter to Deputy Prime Minister and Finance Minister Chrystia Freeland asking her to scrap a proposed change to capital gains tax announced in the federal budget last month. In addition to the CCGA, the May 9th… Read More
Farm Management Canada is hosting free, one-day farm business practices assessment workshops across Canada beginning later this month. The workshop, Seeding Success: Assess, Act, Achieve!, is open to all Canadian producers and farm families and management teams. The workshop is funded through the Canadian Agricultural Human Resource Council, as part of the Sectoral Workforce Solutions… Read More
You can’t take it with you. In this case, the “it” is the farm, and if you’re putting off transitioning the farm to a new owner or manager, you might be missing out on a huge opportunity to mentor and continue the success of the legacy you’ve built. The trouble is, most of us operate… Read More
Say what you want about the state of farm transition in Canada, but the numbers don’t lie: farm business transition from one owner to the next is a huge deal both in dollar figures and families involved. According to Farm Management Canada, about 75 per cent of farm businesses are set to transition to new… Read More