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Farm business

(Photo courtesy Canada Beef Inc.)
General

New rule on farm transfer tax treatment put off to 2022

Farm groups protest delay

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Reading Time: 3 minutes Rule changes passed in a federal bill to standardize tax treatment for sales of family-owned farms and small businesses will be delayed to the start of 2022, to the dismay of several farm groups. Bill C-208, a private member’s bill spearheaded by western Manitoba Conservative MP Larry Maguire with amendments to the federal Income Tax […] Read more
Tom Button
Columns, Opinion

Editor’s Note: The incredible summer of 2021

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Reading Time: 2 minutes It’s the way of things. A thought leads to a theory. An insight leads to a vision. And a great summer leads to an action plan. Welcome to a year like we’ve never seen before. We’ve always thought summer is for field work, winter is for business management. This year, more than ever, that’s changing. […] Read more
Bringing in the hay at Wildwood Farm in the Peace region.
Guide Business, Succession strategy

Transitioning the farm beyond the family

Maybe keeping the farm in the family isn’t an option for you. Or maybe you’ve seen the statistics and you believe Canada simply doesn’t have enough young farmers, so today’s farmers must open the door to more new entrants. Well, it’s never going to be easy, but check out these creative ways to have your cake and eat it too

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Reading Time: 10 minutes Non-family farm transitions are certainly different than traditional family succession plans, and they definitely have their difficulties. But it turns out they aren’t impossible. In fact, non-family transitions are becoming much more common and much more successful. But they do require new strategies, and new ways of thinking. How common are they? “A significant number […] Read more
(File photo by Dave Bedard)
Crops, Machinery

Cargill buying further into Saskatchewan ag retail

Company to take up other half of Precision Ag

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Reading Time: 2 minutes Cargill plans to expand its crop retail reach further into southeastern Saskatchewan by buying up the remaining half of one of its joint ventures in the region. The Canadian arm of the U.S. agrifood firm said Thursday it will buy up crop input retailer Precision Ag for an undisclosed sum, taking up the 50 per […] Read more
“That’s the point I think we could have stressed more,” says Kyle. “You say you don’t think it’s a good life, but you’d never do anything else, and we feel the same way.”
Guide Business, Succession strategy

‘You can’t hand it to them’

Every transition is unique. This one is too. But inside Kyle (left) and Bryan Maynard’s experience are nuggets that can transform the process for farms across the country

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Reading Time: 10 minutes It all makes perfect sense. When, two days before their eighth and 10th birthdays, brothers Bryan and Kyle Maynard lost their dad, Kent, in a tragic farm accident, of course the future of the farm was thrown into disarray. Kent had grown up nearby on a Prince Edward Island dairy and hog farm, but in […] Read more
“Estate planning was much simpler 10 to 20 years ago,” says wealth management advisor Brent Dekoning. In fact, tax changes in even the last couple of years can expose the farm to huge costs.
Guide Business, Succession strategy

Five new trends in estate planning

It’s easy to feel like everything is under control. After all, you signed your will years ago. So everything is great, right?

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Reading Time: 5 minutes Canada is in the midst of a massive intergenerational transfer of wealth with the owners of trillions of dollars in assets thinking they’ll pass all that wealth on to their children. Despite this historic handoff from one generation to the next, the Investment Planning Counsel reveals that few Canadians have discussed their investment plans with […] Read more
Don’t retire — ‘rewire’
Guide Life

Don’t retire — ‘rewire’

Retirement can be rich and rewarding. Or it can be deadly dull. The difference may be whether you connect with new resources and advisors

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Reading Time: 7 minutes Some people can’t wait to retire. They have plans to replace the daily grind with more volunteering, more travel, more golf, more time with the grandkids, more time at the cottage, or whatever it may be that they don’t have the time to do now. But for others the thought of retirement is terrifying because […] Read more
“The previous generation is underused,” says psychologist Michael Rosmann. “If you could address that, it would make a significant contribution to agriculture.”
Guide Business, Succession strategy

The retiring farmer

In the dictionary, to be “retiring” means to bow silently out. Now, one of North America’s top farm retirement experts, shares why it’s the wrong strategy for our older farmers

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Reading Time: 6 minutes Retirement can be a daunting prospect for nearly everyone, especially if they have had a meaningful career. Still, the adjustment in agriculture really is more acute than in many other sectors. “In agriculture, we have the added problem of being tied closely to the land,” says Iowa psychologist, speaker, author and farmer Dr. Michael Rosmann. […] Read more
Darren and Carmen Sterling.
Crops, Guide Business

Selling the corporate farm

Darren and Carmen Sterling made the hard decision. 2019 would be their last crop. Then they would retire. But that’s when the real work began

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Reading Time: 10 minutes When we talk about Canada’s aging farm owners, we generally talk about how best to pass the agricultural torch to sons and daughters or, more recently, about creative contortions to move the farm into the future with those who are not family — in short, succession planning. But is it still called succession when there […] Read more
For brothers John, Michael and Paul Sharpe, the key to scalable growth lies in management and in finding ways to build teams that continually expand their skillsets.
Features, Guide Business

Scaling growth at Sharpe Farm

Three Ontario brothers grow their ability to achieve their goals

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Reading Time: 7 minutes In today’s business world, few concepts are more important than growth. Most entrepreneurs are constantly looking for ways to expand their business to increase profitability and improve their shot at long-term survival. Of course, farmers and other agribusiness owners are no exception, and for Michael, Paul and John Sharpe — the three brothers behind Sharpe […] Read more

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