Originally posted by AlbertaFarmer5
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Cbc video on farm transfer
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Capital gains tax hastens the amalgamation for sure. Like the idea of a break if sold to qualified young buyer.
A lot of land gonna change hands here soon looking at the age of owners.
In doing my own estate. Because kids are still minors.
Everything to a young unrelated guy with farming under his fingernails. He has to manage trusts for kids until adult, and gets first right to rent and purchase at half market.
My reasoning was: To hell with siblings who left at 17. They sure came back when Ma died. And BTOs.
And greedy woman who I swapped genetics with. And her lawyer. And kids who will just blow it. They'll have funds for education. But it'll go to toys anyway.
Where the hell was a guy like me when I was younger. Giving someone the chance I never had.
And no, I don't let him take me fishing..... Lol.
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Well if the government would stop printing money, land would not have speculative value in its price tag and then suddenly there would be a lot more people who could hope to own land by working hard and saving towards that goal. Having asset prices inflate at a pace far more rapid than you can save is the reason so many are shut out of opportunities and why rural communities are dying. Sound money would solve 95% of this problem. But we are so used to voodoo economics of artificially cheap credit blowing asset bubbles that sound money is a foreign concept. Old guys keep hoarding high priced assets until they die. Many farmers got a start or chance to grow after the deflation of the 1980's.
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Originally posted by ajl View Post..............more people who could hope to own land by working hard and saving towards that goal. Having asset prices inflate at a pace far more rapid than you can save ......... Sound money would solve 95% of this problem. But we are so used to voodoo economics of artificially cheap credit blowing asset bubbles that sound money is a foreign concept............. Many farmers got a start or chance to grow after the deflation of the 1980's.
Even if you couldn't save enough because of hyper inflation......it hardly makes any sense no matter how you look at current land values.....even if you can pay cash! I seriously think the hyper inflation is done and history might be repeating itself and a correction could be around the corner. Some people got to the party late.
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Originally posted by ajl View PostWell if the government would stop printing money, land would not have speculative value in its price tag...
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Originally posted by grassfarmer View PostIt's not a new phenomenon - A neighbour of ours bought a farm in the early 1960s and everybody was shaking their heads saying 50,000 was crazy money to pay for it and he'd never get it back. Would make at least 2.5 million now. Land always has a speculative value.
Although we were lagging.Last edited by farmaholic; Jul 16, 2019, 22:40.
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Originally posted by grassfarmer View PostI know of several in progress actually. We are involved in it ourselves in a small way. Here is the article some were alluding to a while back on our story. Not to boast but to get more people thinking about a succession model I think is critical if we are to keep family farms alive on the prairie when the current generation need to transition out.
http://www.country-guide.ca/guide-business/the-way-it-happens/ http://https://www.country-guide.ca/guide-business/the-way-it-happens/
This is exactly the scenario I was referring to in the other post. Allowing an opportunity to people who might think completely outside of the box, and who bring a totally different perspective, who otherwise wouldn't get the chance to potentially change the entire business model.
All the whining on here that you need countless thousands of acres to be viable, even after inheriting it, yet these folks apparently are making a living off of a small fraction of that. I would be all in favor of you getting a tax break for doing so, and them likewise.
And I'd never heard of Luing cattle before, what are their advantages?
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Originally posted by grassfarmer View PostI know of several in progress actually. We are involved in it ourselves in a small way. Here is the article some were alluding to a while back on our story. Not to boast but to get more people thinking about a succession model I think is critical if we are to keep family farms alive on the prairie when the current generation need to transition out.
http://www.country-guide.ca/guide-business/the-way-it-happens/ http://https://www.country-guide.ca/guide-business/the-way-it-happens/
I have thought about this same thing myself many times
if it all works out in the end , its so much better than seeing your lifes work go down the road at an auction
just having someone appreciate what you have accomplished is enough sometimes
money is not the be all , end all for everyone
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Farming is how we make our living but the value of that is only partly measured in dollar returns. Another important part is our inherited generational knowledge of agriculture and our stewardship of the land. We often don’t get the recognition we deserve for that from wider society but I think it’s important we maintain the continuity for future generations.
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Originally posted by westernvicki View PostLove warm and fuzzy too, we all know folk who would love to farm but do not have land. Indeed they would treasure the https://downloadnox.onl/ Nox https://vidmate.vet/ Vidmate https://vlc.onl/ VLC gift beyond measure. Salutes to those who chose this route and to the families who support the legacy of those who chose to give this gift. My bet its complicated, always is when it comes to inheritance.Last edited by javar.lucious; Jul 17, 2019, 15:09.
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I could be mistaken but I think the show mentioned he was an electrician with a job...
Good chance for the next few years he gets all his job's income tax refunded and he can put that into the farm...
Good on the old guy for helping the young guy....good for community , and the industry....
How do some ads go......some things are priceless....this happens to be one of them...
I have watched many guys have it paid forward to them only to become pretty selfish greedy pricks....dont see that in this young guy ...
I do question the young guys thinking of wanting to farm until he's the old guys age when he would be retired from being an electrician a lot earlier....
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