GFM Network News



Brandon-Souris MP Larry Maguire speaks to Bill C-208 on Nov. 25 in the House of Commons. (Video screengrab from Parl.gc.ca)

Tory MP’s bill on farm transfer tax treatment moves ahead

Private member's bill now awaits Senate approval

A Manitoba Conservative MP’s bill to standardize the tax treatment for sales of farms and other small businesses has cleared the House of Commons and is en route to the Senate. Brandon-Souris MP Larry Maguire’s Bill C-208, which was introduced for first reading in February last year, passed third reading in the Commons on Wednesday. […] Read more


The pandemic has more older farmers thinking about their wills — and how to split up the farm, says consultant Merle Good.

Pandemic has many thinking about the future of the farm

If you plan to leave land to your off-farm child, you need a strategy that makes sense for the farm business

Reading Time: 3 minutes If the pandemic has you looking at your will and wondering how to split your farm up, you’re not alone. “COVID has increased the anxiety about our wills for all of us who are a little bit older,” said Merle Good, owner of GRS Consulting. “When I’ve talked to farmers about it, they’re starting to […] Read more

Finance and succession help for younger farmers

Finance and succession help for younger farmers

Reading Time: < 1 minute Farm Credit Canada is putting on a series of events for younger farmers so they can learn how “to take control of their business journey.” Eight “young farmer summits” for producers under the age of 40 are being held across the country, including two in Alberta. “The future of Canadian agriculture depends on attracting the […] Read more


Photo: Getty Images

Seven things to remember when preparing for a farm transition

Where is it written that your parents have to go south for the winter together? Many aging farmers like to visit the Sun Belt at this time of year to get rest, connect with friends and have some well-deserved fun. But what if one of your parents prefers to stay home? When both spouses cannot[...]
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Bringing in the next generation isn’t easy but it’s been a focus for the Hilton family. From left, Sterling, Dane, Reid, Lynne and Spencer Hilton (pictured in the early fall when snow held up combining).

Putting the success into farm succession

Hilton Ventures has grown by leaps and bounds but the greatest accomplishment is bringing in the next generation

Reading Time: 6 minutes By virtually any measure, the Hilton family is successful. Over the past three decades, the family has expanded its Strathmore-area operation from just over 2,800 acres to around 13,000, diversified crop production, and started a successful malting and brewing company that complements the core farm business. As well, family members have taken leadership roles in[...]
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Transferring land without tax is usually essential for a succession and so farmers need to pay attention to a new interpretation of rollover rules, says a well-known Alberta succession expert.

New rollover rule for farms could flatten some succession plans

A do-nothing strategy could be costly — consider transferring some land today, says succession expert

Reading Time: 4 minutes A new interpretation of the farm rollover rules has been giving Merle Good heartburn since the Canada Revenue Agency came out with it in June. “That’s the one that scares the hell out of me,” the farm succession expert said at a recent Alberta Canola Powering Your Profits event. “The rollover allows us to transfer[...]
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Seven rules of behaviour for family farm teams

Seven rules of behaviour for family farm teams

When the next generation comes home, Elaine Froese says families can set up some rules of engagement right away so everyone knows and can operate within that culture. When new people join the team, it can help to clarify expectations. “Culture is the invisible glue that holds the farm and the family together. It is[...]
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Add one more harvest worry to the list — the prospect of higher taxes. But experts say a personal pension could reduce that hit and provide a host of other benefits.

Worried about federal tax changes? There’s an alternative, say experts

Federal Liberal bid to close ‘loopholes’ will increase taxes on most 
farm corporations, but there’s a way to avoid that hit

Reading Time: 3 minutes Proposed federal tax changes aimed at ‘income sprinkling’ and other tax reduction measures used by corporations — including those owned by farmers — have ignited a storm of controversy. But there are “a lot of other tax strategies” that farmers can use, say financial planning experts. In July, federal finance officials announced proposed changes to[...]
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Larry Martin.  Photo: Supplied

8 management practices of successful Canadian farmers

In our CTEAM program and other activities, we get to meet a range of Canadian farmers, and often we have the opportunity to assess their success both financially and personally, in terms of their ability to meet or exceed personal and family goals. Several characteristics of these successful people become obvious rather quickly. Not all[...]
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