Farm Taxes

Farmers in Athabasca come for tips to pay less tax, learn how to avoid an audit and updates on the Federal tax changes for private corporations.

As wildfires are still burning in many areas of B.C., and thousands of people remain on evacuation order, the government’s focus will continue to be on fire suppression and emergency social services supports.

In the coming weeks, this focus will shift more fully from public safety to recovery.

To assist families and businesses in recovering from the damages caused by emergencies both this year and in future years, the Province is developing a recovery plan and working to deliver supports as and where they are needed.

Accounting professionals can help family run businesses in Canada manage their business accounts, minimize taxes, maximize profits, and save money.
Government not moving forward with small business tax measures relating to the conversion of income into capital gains.
Finance Minister Bill Morneau issued an announcement outlining how he intends to proceed with changes to how passive income earned in private companies is taxed.
The income for Canadian farmers is rising. So too is the value of their machinery and equipment. The tax consultants at FBC can help farm operators take advantage of the various tax savings and deductions available to them.
While the government stated that it is committed to its proposed private company tax measures to address tax planning involving income sprinkling effective January 1, 2018, it is cancelling changes to limit access to the Lifetime Capital Gains Exemption (LCGE).
Voice your concern about the proposed amendments to how private corporations and small businesses will be taxed. Actions you can take include email Members of Parliament and sign petitions.
There are many proposed small business tax changes which can lead to higher taxes; but 3 key items stand out for farmers: Sharing Income, Excess Cash Reserves, and Intergenerational Transfers
The federal and provincial governments in Canada provide farmers with many different grants, subsidies, and contributions. Be sure you're taking advantage of all of them.
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