Most farmers and agricultural workers think of tax season as January through April.
Only then do they start thinking about how much money they’re going to owe the CRA.
And every year, this simple act of waiting costs Canada’s farm owners millions of dollars in lost tax savings.
Sometimes farmers don’t realize the impact that decisions they make today will have on the taxes they’ll pay in the future.
Now is the perfect time to think about what actions you can take before the end of the tax year to lower your future income taxes.
Download our free tax planning toolkit to learn:
- Year-end tax planning strategies for farms that you can apply before December 31
- How registered savings accounts provide tax relief and tax-sheltered growth
- Top tax deductions to reduce self-employed income tax