2021 Stats Canada Farm Census 

STATCAN now defines a farm as a:
“unit that produces agricultural products and reports revenue or expenses for tax purposes to Canada Revenue Agency”.
So, if you do not report your revenue or expenses are you still a farm, or are you offside, or both??

 
Some highlight changes since 2016:
• Older farmers 55 plus are 60.5% of farm operators
• Young farmers under 35 is down to 8.6% from 9.1%
• 12% of farms have a succession plan
• Fewer farms and larger operations reporting 2 million or more in sales account for 50% of total revenues.
• Production of renewable energy is the newest commodity being reported by over 22,000 farms.
• Hay lands down 8.4% and pasture down 4.1% (I agree with my colleague Ryan, we have a forage and pasture crisis brewing)
• Sustainable farming practices are increasing and improving.

WHAT DO I SEE?
• Incredible opportunities for young farmers.
• New revenue streams like alternative energy and carbon sink.
• Huge deferred tax liabilities for retired farmers.
• Complex family situations and personal attachments to land.
• New relationships and bonding with trusted advisors as farm operations grow.
• Lastly, Managing SMARTER with a PURPOSE.

Attached is the link to 2021 Farm Census
https://www150.statcan.gc.ca/n1/daily-quotidien/220511/dq220511a-eng.htm?CMP=mstatcan

I look forward to next week when I'll be talking about Farming – Driven by Purpose...

Fred Mertz
Fred@thevoiceofagriculture.ca