The primary purpose of these amendments is to increase transparency regarding beneficial ownership and assist the Canada Revenue Agency (CRA) in properly assessing the tax liabilities for trusts and their respective beneficiaries.
by: April 18, 2023 Grainews Seeds of Encouragement by Elaine Froese
I believe folks are happy in their roles on the farm when they are clear what is expected of them, and they have the proper tools to get the job done.
by: “The first thing we do is lay out the communication strategy,” Lisa Jenereaux (standing on tractor) says. “We sit down and agree on the type of meetings we need to have, who needs to be at those meetings, and how long they should be.”
The story gets repeated time and again. A farm family invests time and money in a professional farm advisor to help them sort out a transition plan and how to implement it. Finally, almost incredibly, after a series of family meetings that started out nervous but eventually get surprisingly productive, everybody gets on board with the plan. Everybody knows their role; everybody pulls in the same direction.