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Farmers with tractors bearing the slogan “If the farmer dies, the land dies” take part in a demonstration organized by the German Farmers’ Association under the slogan “Too much is too much! Now it’s over!” in front of the Brandenburg Gate. This was prompted by the German government’s plans to abolish the agricultural diesel tax and the motor vehicle tax exemption for agriculture and forestry. Photo: Fabian Sommer/dpa via Reuters Connect.

German government dilutes 2024 subsidy cuts after farmer backlash

Farmers protested in Berlin's streets after the announced end of tax breaks last month

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Germany's coalition government has agreed to change its 2024 budget plans, a government spokesperson said on Thursday, after subsidy cuts proposed to bring spending in line with debt rules angered farmers.
Farmers with tractors bearing the slogan “If the farmer dies, the land dies” take part in a demonstration organized by the German Farmers’ Association under the slogan “Too much is too much! Now it’s over!” in front of the Brandenburg Gate. This was prompted by the German government’s plans to abolish the agricultural diesel tax and the motor vehicle tax exemption for agriculture and forestry. Photo: Fabian Sommer/dpa via Reuters Connect.

German farmers protest with tractors against austerity measures

The German government proposed to abolish fuel subsidies to meet savings targets

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According to next year's budget, a partial tax refund on agricultural diesel, along with a tax exemption for agricultural vehicles, will be abolished to meet the saving targets - a measure farmers said would threaten their livelihood and the competitiveness of Germany's agricultural sector.
(Shaunl/E+/Getty Images)

Feds plan to ease Underused Housing Tax reporting load

New exemption also proposed for employee housing outside cities

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Federal Finance Minister Chrystia Freeland’s latest Fall Economic Statement offers to take some of the reporting burden off certain farmers and other Canadians when filing for exemptions from the national Underused Housing Tax (UHT). The federal finance department on Nov. 16 posted its legislative and regulatory proposals for changes to the UHT online and has […] Read more
Underused housing tax undue burden on farmers, ag groups say

Underused housing tax undue burden on farmers, ag groups say

Many farms can apply for exemption, but the process can be expensive, a letter to federal ministers says

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Agriculture leaders say a federal tax on ‘underused’ housing is causing an unintended and undue burden on farmers. “We urge the government to exempt farmers from the requirement to file a [underused housing tax] return,” said a letter sent to federal ministers. The Canadian Canola Growers, Canadian Federation of Agriculture, Canadian Cattle Association, Ontario Fruit […] Read more
Although the deadline for filing the UHT return and paying the fee is April 30, 2023, the Canada Revenue Agency (CRA) is providing transitional relief this year by waiving penalties and interest if the UHT return is filed, and fees paid by October 31, 2023.
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Understanding the Underused Housing Tax

Many farm partnerships and corporations are obligated to file this new return, even if they don’t owe

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The government’s Canadian Underused Housing Tax (UHT) Act could impact 2022 farm taxes. “The intent is to impose an annual one per cent tax on vacant or underused housing in Canada that’s owned directly or indirectly by persons who are not Canadian citizens or permanent residents,” said Kurt Oelschlagel, BDO partner and national agriculture tax […] Read more
Sometimes choosing not to take the write offs on equipment depreciation or a new shed and deferring them can pay off the next year, if you believe your farm income with be high.
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Year-end tax advice you don’t want to ignore

There are many strategies for tax deferral, but be strategic, says a tax specialist

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It’s year-end tax strategy crunch time.  For those farmers who had higher crop returns or have experienced an especially good year, Dec. 31 is the deadline to take advantage of farm tax deferral strategies that can help manage extra income. Tom Blonde, partner at Baker Tilly GWD, said that most farm businesses have plenty of […] Read more
A close-up of a hand signing a legal document titled "Last Will and Testament," with a pen and glasses visible in the background.
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Why two wills are better than one if you live in Ontario

Having two wills allows isolation of certain assets exempt from probate tax

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When it comes to sophisticated estate planning, having a legal will may not be enough for Ontarians.  In the past five years, Jim Kibble of Ontario Estate Consulting Solutions Inc. has helped create more than 500 estate plans and is a strong advocate for the creation of two wills per person – one to cover […] Read more

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