Insights

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.

Just like land and quota prices, family dynamics, estate laws and the income tax act continue to change and evolve over time. This means that your estate plan needs to address these changes and we recommend you review it every three years

January 1, 2017, the Government of Canada made changes to how quota sales are taxed. Many farmers are not aware that these changes could now result in a significant taxes owing on routine quota sales and transfers where no tax was payable in the past

On July 18, 2017, the Department of Finance released a consultation paper, along with draft legislation, proposing a number of tax changes that were aimed at private corporations. The changes were intended to remove the perceived unfair tax advantages...

As a business owner, you most likely rely on the income generated by your corporation’s business to fund your lifestyle. You may also hope that your business accumulates sufficient capital to meet your income needs in retirement. If so, you should consider...

Have you ever talked about putting a plan in place for a transition of your farm? Reality is that every farm will be transitioned at some point in time and it will be done one of two ways. As a voluntarily transfer to a family member or 3rd party, or

One of the most common questions we accountants get from our farming clients is whether to structure their business as a proprietorship, partnership or corporation