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AgriStability

AgriStability is one of the business risk management programs under the Canadian Agricultural Partnership. It protects Canadian producers against large declines in farming income for reasons such as production loss, increased costs and market conditions.

Recent changes regarding the removal of the Reference Margin Limit:

  • The AgriStability Program will now better support producers experiencing declines in farm income from factors such as production loss, increased costs and poor market conditions.
  • It will make the AgriStability Program more effective and equitable. Farming operations with low allowable expenses will see increased coverage and the opportunity to access larger benefits.
  • The removal of the Reference Margin Limit is retroactive to the 2020 Program year.
  • Producers can still enrol for the 2021 Program year. The deadline to enrol is extended to June 30, 2021.

AgriStability deadlines:

  • Deadline to Enrol, Cancel and Pay Program Fees for 2021 program year – June 30, 2021
  • Program Forms Deadline (without penalty) for 2020 program year – September 30, 2021
  • Program Forms and Program Fee Deadline (with penalty) for 2020 program year – December 31, 2021

 

“This is big news for our local cow-calf operators, organic producers, and grain farmers. Unfortunately, the change will not benefit high expense operations such as feed lots, however for most of the clients we service, this would increase coverage levels.”

Shane Lacasse CPA, CA, CFP, CAFA

Partner - Risk Management Consultant, Stark & Marsh CPA LLP

AgriInvest

AgriInvest is a self-managed producer-government savings account designed to help you manage small income declines and make investments to manage risk and improve market income.

  • The maximum Allowable Net Sales (ANS) eligible under AgriInvest will be reduced to $1 million. down from $1.5 million
  • The annual government matching contributions will be limited to $10,000.00 per AgriInvest account, down from $15,000.00
  • The minimum payment will be adjusted from $75.00 to $250.00

 

Questions

Please contact your trusted Stark & Marsh advisor or, if you are not currently a client but have risk management questions, contact Shane Lacasse to discuss your personal situation and determine which Agricultural risk management tools may be best suited for your operation.

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