It’s got no new nuggets specifically for crop or livestock producers, but Tuesday’s federal budget includes the end results of last year’s consultations — and backlash — on corporate taxation. Finance Minister Bill Morneau’s 2018 budget proposes a couple of new limits on Canadian-controlled private corporations’ (CCPC) ability to benefit from a lower tax rate […] Read more
Tag Archives budget — page 3
New rules on passive investment arrive in budget
Producers vote down Ontario beef checkoff increase
A bid to increase the checkoff paid by Ontario’s beef farmers to Beef Farmers of Ontario was quashed when it failed to get the 66 per cent support it needed for approval. Why it matters: Beef Farmers of Ontario pulled from its reserves to fund at close-to $1 million deficit in 2017 and was planning […] Read more
Ontario budget seeks tax flexibility for on-farm processing
The Ontario government has balanced its budget for the first time in since 2008 — but Thursday’s budget contained little news for agriculture and rural Ontario. Finance Minister Charles Sousa’s budget mostly highlighted agriculture programs that had already been announced, and maintains $100 million in funding for the provincial Risk Management Program, which helps offsets […] Read more
Saskatchewan budget seen as costly touch for farms
Saskatchewan’s general farm organization is consulting its farmer members on less-discussed features of last month’s provincial budget, while warning them to brace for impact from new budget-related costs. The Agricultural Producers Association of Saskatchewan last Monday wrapped up its latest round of spring district meetings, at all six of which APAS general manager Duane Haave […] Read more
Manitoba pulls less-loved ag tax credits in budget
More funding for agriculture innovation in Manitoba’s latest provincial budget will be offset in part by an immediate end for several of the less popular tax credits available for farm use. Provincial Finance Minister Cameron Friesen on Tuesday laid out a 2017-18 budget with an overall $840 million deficit, based on a four per cent […] Read more
Tax treatment of deferred grain cash tickets under review
Grain growers in Canada who take deferred cash purchase tickets for crops are being asked whether it’s time to get rid of the rule that allows income from those tickets to be put off to the following tax year. Tucked into federal Finance Minister Bill Morneau’s budget on Wednesday was an announcement of public consultation, […] Read more
Agrifood a pillar in federal budget’s ‘innovation’ plan
The federal government’s latest budget puts up Canada’s agrifood sector as one of six “key areas” to benefit from a new national “Innovation and Skills Plan.” Federal Finance Minister Bill Morneau on Wednesday unveiled a budget projecting $330.2 billion in expenses in 2017-18 against budgetary revenues of $304.7 billion, for a $28.5 billion deficit. The […] Read more
Nova Scotia pledges food donation tax credit in budget
A tax credit for Nova Scotia farmers who donate produce to local food banks is among the policy plans laid out in the province’s latest budget. Finance Minister Randy Delorey’s budget on Tuesday showed an overall $17.1 million net surplus position on $10.15 billion in total expenses and $10.26 billion in total revenues (minus $110.3 […] Read more
Newfoundland, in cost-cutting mode, scraps agrifood fund
A fund meant to support large-scale agrifood projects in Newfoundland and Labrador is a victim of spending cuts in the province’s latest budget. Finance Minister Cathy Bennett on Thursday mapped out an overall $8.48 billion provincial budget for 2016-17, with an expected deficit of $1.8 billion and a list of “measures to reduce spending.” For the […] Read more
Alberta to shut livestock, grain agencies in budget
Alberta’s farmers will be spared the new fuel levy planned for next year in the province’s latest budget, but can expect a number of farm agencies to close in the meantime as the province moves to curb spending. Provincial Finance Minister Joe Ceci on Thursday announced a 2016-17 budget with projected revenue of $41.38 billion, […] Read more
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