The Western Wheat Growers' Association

[parsley]

As you well know, Budget 2015 put a lot of capital gains in farmers' pockets.

Both government and the WCWGA made
It happen.

"The Wheat Growers called for an increase in the Lifetime Capital Gains Exemption (LCGE) to $1 million as early as 2010 in a submission to the Finance Committee and have been pursuing this ever since. The government did increase the LCGE from $750,000 to $800,000 for the 2014 tax year, and had adjusted this to $813,600 at the start of this year. The new exemption of $1 million takes effect immediately."

Next time you see a WCWG member, thank him/her for lobbying on your behalf, will you? Pars

[SASKFARMER3]

I agree on this one! It was a positive in the Budget!
Good job!

[Oliver88]

Nice work, good positive change.

[bucket]

How about no taxes on land appreciation like a tfsa?

That would be more innovative?

[farmaholic]

Hmmm, If I never sell my land, and pass it on to the next generation...

[fjlip]

Then next gen can reap the windfall of $1Mil capital gains ...each, plus spouse.
That's what accountant said, if you don't sell the next gen will.
Millions tax free hard to resist.

[bgmb]

How about raising the small business tax exemption!!!!

[wakopa]

If u have lots of land and close to retirement sell 2 millon worth fill ur children and ur tfsa and then the children if they want to can sell a millon worth. Don't put it in ur children spouse name , gold mine for them when they leave

[teller]

bgmb, 15 million of deployed capital, which is the limit for the small business tax, is not a small business. it might not be a big farm, but to mom and pop wage earner voters, 15 million is not small.

[blackpowder]

Wakopa. Dont ever put anything in a spouses name or in joint. Be very careful putting anything in married childs name. Seek specialized legal counsel.
Non farmers looking at a farm see nothing but money and it brings the buzzards every single time.