The Quebec company billed as Canada’s largest producer of strawberry plants has picked up new ownership after nearly 70 years. Production Lareault, based on just over 450 acres at Lavaltrie, […] Read more
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Tag Archives succession
Major strawberry plant producer changes hands
New owners get funding to buy Lareault business
International farmers may ease Canadian human capital crunch
A global retirement crunch is coming and Canada is ill prepared, report says
As other nations reduce their agricultural footprints in an effort to boost sustainability, their loss could be Canada’s human capital gain, a new report suggests. “The immigration of scientists, data […] Read more
Top transition tips for young farmers
How the next generation can help farm transition be successful
Transitioning management and ownership of a farm business from one generation to the next can present many challenges. While there are numerous resources to support farm founders in assessing their […] Read more
Tory MP’s bill on farm transfer tax treatment moves ahead
Private member's bill now awaits Senate approval
A Manitoba Conservative MP’s bill to standardize the tax treatment for sales of farms and other small businesses has cleared the House of Commons and is en route to the […] Read more
Introspective estate planning for your farm
Focus on the people involved in farm succession, not just assets
Estate planning means knowing where financial and material assets will go after you die, but according to veteran financial strategist Chris Delaney, forgetting to prepare people to receive those assets […] Read more
Locking farmland in a trust ensures succession potential
Land won’t end up split off and sold to developers if it’s under a trust
The Ontario Farmland Trust can ensure that agricultural land retains that designation in perpetuity with a Farmland Easement Agreement, whether or not owners have a succession plan in place. The […] Read more
The importance of meetings
Taking the step of getting together is a critical first move in happy succession
The need for better communication and holding proper meetings with advisers and family members were stressed as key factors to successful farm ownership transfers, at a recent farm transition meeting. […] Read more
Planning for “What if”
Succession planning questions to ask and steps to take to start the conversation
Many farms think an unexpected change will never happen in their family. The premise is: “our family operation has nothing to worry about.” Few family operations survive unexpected changes to […] Read more
Editorial: Putting the emphasis on family generational wealth
I’ve heard many speakers on farm succession. Most of them have good messages; some of them are exceptionally good at creating enthusiasm, and some have useful stories that make you […] Read more
Accessing Ontario’s small business tax rate
Both passive and active income can change your tax rate, which can be a surprise for some farms
Farms are typically small businesses entitled to the small business tax rate each year. But farm finance experts say even relatively small farms can lose access to small business tax […] Read more