BRMs

[bucket]

Reading the Western producer and this caught my attention



"'"""Global Ag Risk Solutions (GARS) executive vice-president David Sullivan wants his company and others like it to be part of the discussion. The company, now part of the larger Hub International, offers private crop insurance but finds it hard to compete against the subsidized government programs."""""


I find it hard to compete against the US treasury with their farm support programs but I don't get a seat at the table with letters written to my MP.

I get told by others if you cant compete - get out or become more efficient.

Boo phucking hoo for David Sullivan.

?

[SmallTimeOperator]

Hard to compete? That’s their own problem. I tried to get GARS when it was a fairly new thing. I didn’t fit their parameters and was told sorry no thanks. They like to cherry pick who they take on, unlike the government program who will take on mostly anyone. Agree. Boo phucking hoo. They didn’t want my business so I couldn’t care less if they failed and disappeared.

[blackpowder]

All rather familiar and predictable.
Nothing like a downturn to flush the gutters.

[bucket]

All rather familiar and predictable.
Nothing like a downturn to flush the gutters.

Interesting how they say """premiums have gone up mainly because of drought and softening grain prices"""

So when GARS was collecting premium in times of better rainfall and good prices - ws a windfall???

If these guys get a say at the table for BRMs - where is the seat for the organizations I pay a checkoff to????

Or better yet , where do I get seated? I have a few ideas for agriculture's future in this country. Here they are and feel free to use them:

1. A farmer should be taxed the same no matter if it is an individual or corporation. Guys create companies to avoid tax, why not change the tax laws. same guys farming the land.

2. Capital gains exemption should be increased - why burden the next generation? And better yet, what does the government do with the windfall taxes from a farmer selling out?

3. Why do we have a system that allows farmers to work up pasture only to collect crop insurance , then have a program to pay for seed to return cultivated acres back to grass???

4. IF the USA supports their farmers with ECAP , the Canadian government should match similar to what they do with other industries like auto, steel etc.

I will add more , would be interested in opinions.

[LEP]

Interesting how they say """premiums have gone up mainly because of drought and softening grain prices"""

So when GARS was collecting premium in times of better rainfall and good prices - ws a windfall???

If these guys get a say at the table for BRMs - where is the seat for the organizations I pay a checkoff to????

Or better yet , where do I get seated? I have a few ideas for agriculture's future in this country. Here they are and feel free to use them:

1. A farmer should be taxed the same no matter if it is an individual or corporation. Guys create companies to avoid tax, why not change the tax laws. same guys farming the land.

2. Capital gains exemption should be increased - why burden the next generation? And better yet, what does the government do with the windfall taxes from a farmer selling out?

3. Why do we have a system that allows farmers to work up pasture only to collect crop insurance , then have a program to pay for seed to return cultivated acres back to grass???

4. IF the USA supports their farmers with ECAP , the Canadian government should match similar to what they do with other industries like auto, steel etc.

I will add more , would be interested in opinions.

Actually the answer to number one is simple. A corp is like an rrsp in that it is a tax deferral. An individual gets taxed again when the money is withdrawn. It either comes out as salary or dividends. The system is set up so both levels of tax are about equal to taking it personally.

You incorporate to allow you to pay a lower rate of tax on money that pays principal.

Being incorporated costs more in accounting fees so there is no free lunch.

Number 2 is a tough one. As a farmer, you can elect to do a section 80 rollover at any value between your cost up to market value. So that tax liability carries forward. Many sell their farms at cost plus the exemption level to the next generation. So you only pay alternative minimum tax (which you get back eventually). Remember both the husband and wife usually can claim a capital gains exemption. So it is 2 x 1.25m.

3. Can't plug all the loopholes. All the land was pasture at one time.

Very little will to have a conversation about number 4 while number 2 stays in place.

Just my opinion.

[bucket]

Trump is changing the capital gains to make it more favourable for Americans, by doing so , that money is expected to be circulated and help the economy.

In Canada the government takes the capital gains tax it receives and wastes it.