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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.

With recent program changes, Rick Redekop with Stark & Marsh outlines what you need to know for completing the New Participant Package for AgriStability. Learn more. 

Final Program Deadline

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“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

AgriStability Deadlines

    March 31 Deadline to submit your interim application
    June 30th

    Deadline to request a New Participant Package.

    Deadline to cancel participation in the program year (or 30 days from the date of your Enrolment/Fee Notice, whichever is later).

    Deadline to pay your program fee without penalty.* (or 30 days from the date of your Enrolment/Fee Notice, whichever is later).

    *Fees paid after June 30 (or 30 days from the date of your Enrolment/Fee Notice, whichever is later) will have a 20 per cent penalty added.

    September 30th

    Deadline to submit your AgriStability previous year’s program forms without penalty.*

    *If you miss the September 30 deadline to submit your AgriStability previous year’s program forms, you have until December 31 to submit your form with penalty. A penalty of $500 per month will be deducted from your benefit. If no benefit is calculated, there will be no penalty applied.

    December 31st

    Deadline to submit the previous year’s AgriStability program forms with penalty. If you do not submit your program forms by December 31, you will be ineligible to receive benefits for the program year.

    Deadline to pay this year’s program fee with penalty. If you do not pay your fee by December 31, you will be ineligible to receive benefits for the current program year.

    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? We can help.

    If you have questions regarding the risk management options for your operation, reach out to us today. Let’s discuss your personal situation and investigate which risk management solutions might work best. 

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