BANK OF CANADA HOLDS RATE STEADYFOR NOW!Canadian inflation is down to about 6% in January; however, it remains well above the Bank of Canada’s target of 2%. It takes months maybe even years to see the impact of higher interest rates on the economy. Personally, I feel the impact and I know the farming community …

CANADA’S NEW UNDERUSED HOUSING TAX ACT (UHT) – TAG YOUR’E IT The Trudeau government keeps downloading bureaucratic red tape to its citizens unnecessarily. The UHT is intended for tax vacant and underused residential properties owned by those who are not permanent residents or Canadian citizens. Many individuals and private companies, exempt from the 1% tax on …

HIDDEN COMPOUND MARKUPS AND INFLATION  I recently read a very enlightening article written by Associate professor Constantin Colonescu from MacEwan University in Edmonton. His writing put a whole new twist and understanding on inflation coupled with compound markups. Wow!!  I never really thought about the connection. “Compound markups create higher prices and transfer wealth from consumers …

USING PARTNERSHIPS IN THE FARMING FAMILY BUSINESSPartnership- A business carried on by two or more people with the intention of making a profit.Partnerships can also include corporations. I will discuss partnerships between individuals in this article. Partnerships can be formal using agreements or informal such as spouses filing income tax returns as a partnership without having …

FARM SUCCESSION PLANNINGUnique, Different, & Critical When farmers/ranchers think about their SUCCESSION plan, I believe what they really focus on is:Can my kids, the next generation, continue feeding the world?ANDWhat are the practical considerations needed to make this successful?LAND – Dirt, as I call it, makes this REAL PROPERTY very unique. Your land has been in …

Agriculture – 2023 Challenges and Opportunities Crop prices could decline; however, prices may rise and stay above historic averages…I know I sound like a politician. Cattle prices should remain stable since cattle numbers have been declining over the years and this liquidation appears to continue into the future. Having said this, crop prices may implode or …