Provincial tax exemption helps next generation Tuesday, October 21, 2008 by BETTER FARMING STAFFAn Aylmer accountant says people with incorporated farm operations who are making succession plans will benefit most from a new farm exemption under the provincial land transfer tax.“We’ve had some partnerships that became incorporated and in the past there was no way to get around the land transfer tax,” says Alan Enns of Graham Scott Enns, LLP. “It (the tax) was almost discriminatory towards partnerships as opposed to individuals so I think that (the new change) levels the playing field.”In 2004, the province exempted farms passed between family members or transferred to a family-owned corporation from the tax. On Oct. 10, it extended the exemption to farmland transferred to one or more family members from a family farm corporation.Enns says he has clients nearing retirement whose land is held by a company. They have downsized their farms and “the parents just want to retire and wind the company up.”The new exemption “should save them some money.”For a family transferring a farm valued at $500,000, those savings would amount to nearly $6,000, says the provincial news release announcing the exemption.“Ensuring the smooth succession of the family farm supports the continued participation of new generations of Ontario farmers and supports the prosperity of rural Ontario,” says provincial agriculture minister Leona Dombrowsky in the release.The exemption takes effect retroactively for qualifying farm transfers after Mar. 25, 2008. BF Pigeon King explains switch from sport birds to squab Holland Marsh growers protest energy plant proposal
Farmers—protect yourself from fraud Thursday, February 6, 2025 Image by Gerd Altmann from Pixabay It can happen to anybody. It doesn’t matter how safe you are or how smart you are; there’s always a chance you are going to get scammed over something. And the agricultural community is no exception. One of the latest instances involves... Read this article online
Canadian tech leads the way for egg gender testing Wednesday, February 5, 2025 Photo by Erol Ahmed on Unsplash Canadian Egg Technologies and MatrixSpec Solutions Inc. have announced that their technology is delivering accurate in-ovo gender determination for white and brown eggs as early as the fourth day of incubation. Called a transformative breakthrough for... Read this article online
Nortera celebrates $25M expansion Wednesday, February 5, 2025 Nortera, a North American leader in frozen and canned vegetable processing, has celebrated the $25 million expansion of its Wright Street frozen warehouse in Strathroy, Ontario. This investment directly supports the local economy by sustaining over 270 jobs and strengthening... Read this article online
Profitable Pastures 2025 webinar series Wednesday, February 5, 2025 The Ontario Forage Council (OFC) has announced that its is back, providing best management practices for pasture and grazing managers. There will be three webinars airing daily from 7:30 pm to 8:30 pm EST over March 4-6, 2025. Registration is required, but there is no cost to... Read this article online
OFA says farmers appreciate risk management program funding Increase Monday, February 3, 2025 Ontario farmers are expressing their support for the January 28, 2025, announcement that the provincial government is expanding risk management funding for farmers. Over the next three years, the Ontario Ministry of Agriculture, Food and Agribusiness is phasing in a $100 million... Read this article online