GFM Network News

A stockman rides his horse as he leads another down a road towards the cattle yards in the outback town of Windorah, Queensland, Australia. The Australian agriculture sector says lenders need more oversight and better understanding of the ups and downs of agriculture.

Australian banks face rural lending reckoning

Agriculture borrowers say banks need a shorter leash and call for a compulsory farm debt mediation system

Reading Time: 3 minutes Reuters – Australian potato farmer Tom Fox says he had never missed a bank payment in two decades before a delay sending a shipment to Indonesia during a trade dispute between the countries prompted his lender to force him into receivership in 2013. “I got a letter from the bank lawyers saying I had 12 […] Read more

Greig: Federal tax backtracks aside, much of impact still unknown

Reading Time: 4 minutes The Canadian Association of Farm Advisors’ annual tax update showcased confusion and frustration at the federal government’s shifting plan to change how small business is taxed. “I was very, very offended by all of this,” said Kurt Oelschlagel, of BDO Canada, who was part of a panel on the government changes at the CAFA event, […] Read more

Feds pledge lower small business tax rate

Reading Time: 3 minutes UPDATED, Oct. 16 — The federal government says it will cut the small business tax rate to nine per cent from 10.5, a move seen as an attempt to counter a growing backlash against its July tax reform announcement. Prime Minister Justin Trudeau and Finance Minister Bill Morneau appeared side-by-side in Toronto’s far suburbs to […] Read more

4 ways to structure farm diversification

Before rolling a new enterprise into the main farm, stop, think and talk about how this is going to fit into your operation long term

Reading Time: 8 minutes Maybe it’s something you just want to do. It might be manufacturing a new farm widget or selling birdseed, or producing heritage pork, or grazing sheep. Or maybe your son or daughter has graduated from agricultural college and they want to come home after a few years working off farm. You know there’s risk with […] Read more