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Tag Archives succession — page 2

Filmmaker Brina Romanek talks with Jim Giffen, the subject of her documentary.
News

Documentary explores subject of farm succession

Filmmaker focuses on the story of a retiring Ontario farmer who is passing on his operation to a non-family member

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Filmmaker Brina Romanek was working on a project about food waste in Canada when one of her subjects showed her how many farms in the area were not being passed down to the next generation. It sparked an interest in her, and also anxiety about what it would mean for farming’s future. The feeling was […] Read more
Farm business transition columnist and facilitator Elaine Froese addressed a recent meeting of the Huron-Perth and Oxford County chapters of Women for the Support of Agriculture.
News

Rules of transition, and when to break them

Well-known coach and columnist addresses Women for the Support of Agriculture

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Farmer and farm transition counsellor Elaine Froese has a list of truisms she shares in regularly published columns and at meetings with farm organizations. The expression, “where is it written that…” is one of them, such as: “where is it written that a farm woman must have a garden?” Another is, “comparison is a joy-stealer.” […] Read more
Ontario’s Land Transfer Tax is a significant added expense for farmers looking to expand.
News

Succession can be taxing if some land ownership isn’t considered

Does your succession strategy account for Land Transfer Tax? If not the repercussions could be costly

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When it comes to transferring land, handing the farm to the next generation can be expensive. Ontario’s Land Transfer Tax (LTT), more specifically, can take a significant bite out of a family’s farm succession finances if an exemption can’t be achieved. Consequently, it’s important for farmers to know when LTT applies — and how to […] Read more
“Succession planning may not be as big a deal as some people think it might be. It’s definitely a long process … it’s important to know where each other’s mind is at.” – Angus MacLaughlin.
News

Three approaches to farm succession success

Frank discussion and a gradual approach have helped these families with their farm transitions

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The reality of just how capital-intensive farming can be becomes apparent when it’s time to pass on the business — the next generation needs capital to get in and the retiring generation needs to take it out to fund retirement. Why it matters: The experiences of three families shows that the right risk-mitigating investment strategies […] Read more
Canadian Agriculture Minister Lawrence MacAulay, centre, announced $70 million in funding for agriculture research at the Harrow Research Station.
News

Federal government invests in scientist “succession planning,” more inclusive research

The investment in agriculture research includes some new ways of involving partners

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The federal government recently announced a $70 million investment into Agriculture and Agri-Food Canada’s (AAFC) network of research institutions, including what is being called the Living Laboratories Initiative. The investment is separate from the Canadian Agriculture Partnership — the latest rendition of federal-provincial agriculture investment — with large portions allocated to finding new hires and […] Read more
(PLQ.org)
Livestock

Quebec ag spending trimmed, tax credits boosted

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Quebec’s farming sector can expect a noticeable cut in program spending and a handful of tax credits and tax relief coming out of Thursday’s provincial budget. Finance Minister Carlos Leitao on Thursday announced a cut of about 15 per cent in program spending for the agriculture, food and fisheries ministry through the province’s general fund, […] Read more

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