Insights

Buy-sell agreements: an integral part of a successful business succession plan

There comes a time when every farm will eventually need be sold. Whether the sale is made to the neighbour down the road or to the farmer’s children, planning needs to be done to ensure that the sale takes place in a tax efficient matter.

Very often, successful farmers have been so focused on running the day-to-day operations of their farm that don’t take the time answer a very big question: “What if something happens to me, or the other shareholders in the farm corporation?”

A checklist of tax strategies to consider when selling your business

The remuneration process for the owner-manager

There are a number of ways you may hold your investment properties. Beyond tax considerations, you may need to think about factors such as financing options and restrictions, liability and creditor protection, flexibility in tax and estate planning,

The traditional train of thought is that when buying equipment, you can either pay cash or utilize loan financing. But farm business owners often have the additional option to lease equipment and can experience significant long-term benefits

Maximizing the potential benefits of your TFSA

There are 3 factors that will make up how much money is left in your pocket when purchasing an investment. One the amount of risk you are willing to take on, two how much you pay in taxes, and three how much you are paying for investment advice.