To help address many of these challenges, the Canadian Federation of Agriculture (CFA)
has put forward recommendations in several areas aimed at not only helping farmers
manage the increasing cost of production and navigate challenging regulatory barriers, but
also to help them mitigate the effects of climate change and support the next generation of
Leadership is mostly what many call tacit knowledge — a skill that is difficult to learn from a book or video, Lemoine says. While watching great leaders can be a solid way to learn how to successfully manage teams and organizations, the best way to learn is acting as a leader yourself.
The good news is that even though many farmers are included in the definition of affected owners under the UHT, many will qualify for an exemption from the one percent tax. However, it is important to understand that if you fall into this group of affected owners, you will still need to file an annual return to claim the exemption.
Where is the investment industry headed, and how can current and aspiring investment professionals best equip themselves for what is to come?
Young farm families have many expectations to manage as they work on farms as employees, raise small children and juggle time for off-farm revenue.
One of the bigger issues facing the agriculture sector is the limited labour pool in Canada. Many employers who are looking for workers from outside of Canada to fill job vacancies will be pleased to hear the federal government is ramping up its immigration efforts.
How does the UHT impact your farming operation?
If you operate your farm through a Canadian corporation or Canadian partnership and it owns a residential property, you will be required to file a UHT return even if no UHT is owed due to applicable exemptions noted below. If you do not file, the late filing penalty will apply.
Tax season comes once a year – but getting the best results for your business often requires year-long preparation.
What should you consider before year-end? Three financial experts offer their perspectives and suggestions: