farm transition Archives - Manitoba Co-operator

MNP tax expert, Edith Frison (left) speaks at AgDays about Bill C-208.

Pay less tax on farm succession

Bill C-208 called a game-changer for farm transition, if you know how to use it

By Don Norman February 2, 2024

Taking advantage of the revamped Bill C-208 can offer farmers significant tax savings when it comes to succession, this year’s Manitoba Ag Days attendees heard. Bill C-208 was initially introduced as a private member’s bill by Brandon-Souris MP Larry McGuire in 2021. The bill sought to amend the federal Income Tax Act to exclude the

Young farmers should see a financial planner to discuss their personal wealth as soon as possible.

News

Top transition tips for young farmers

There are few succession resources for young farmers, but a veteran coach has some tips

By Rebecca Hannam January 23, 2023

It is a challenge to pass the farm to the next generation and while there are many resources for the older generation, there are relatively few to guide young farmers. Farm family coach Elaine Froese has advice. “I think founders are wanting their successors to prove themselves so I often ask young farmers what they

Simon and Amanda Ellis grow and retail pedigreed seed near Wawanesa.

News, News & Opinion

Passing It On: Young farmers reflect on succession journeys

Unique family stories reflect the value of communication, empathy, good relationships and good counsel

By Geralyn Wichers January 20, 2023

Advisors, clear values and family history were important to successful farm transitions for two Canadian farm families. Jan. 10 was Farm Transition Appreciation Day, a day in which groups such as Farm Management Canada, Farm Credit Canada and Glacier FarmMedia (the Co-operator’s parent company) encourage farmers to start the process of planning their farm’s transition

Farmit Manitoba

VIDEO: The dawn of a new generation: celebrating Canada’s farming future

By Glacier FarmMedia Staff January 10, 2023

If you’re planning or in the process of transitioning your farm to the next generation, you aren’t alone. Farm Management Canada estimates that 75 per cent of farms across Canada will change hands over the next decade. Today is Farm Transition Appreciation Day, a day to acknowledge the efforts underway across the country to get

“When we ask people to pay market value, they are only going to do that if they believe in their own ability to grow that operation.” – Tom Deans.

Farmit Manitoba, Other

Don’t give away the farm, says transition expert

Encourage children who want to farm to start buying in early, said Tom Deans

By Geralyn Wichers July 28, 2021

Don’t gift the farm to your children, but make them buy it at full market value, says one intergenerational wealth expert. “When we take shortcuts with the valuation and offer discounts to the family, we damage the confidence of the next generation. We actually undermine their authenticity,” said Tom Deans. Deans, an author and business

Trent Clark and wife Judy have had many discussions about succession with their three sons — both as a group and individually — so everyone can talk about their hopes and plans.

Crops

Start succession planning with a conversation — and then keep talking

Trent Clark has heard many succession ‘horror stories’ and is making sure  that everyone in his family is on the same page

By Alexis Kienlen May 17, 2017

Working on your farm management skills is like exercising… it pays big benefits, but it’s easy to push it off for another day. Only one-third of producers use business advisers or risk management tools, and fewer still do HR, succession, or strategic planning. To help make your farm more profitable (and your life more enjoyable),

The power of a letter to get unstuck

By Elaine Froese May 12, 2017

Sometimes we have to go back to basics in order to keep healthy change happening on our farms. Lately in my transition seminars I have been encouraging frustrated young farmers to write a letter of intent to their founding parents. People who are stuck with a large degree of anxiety and overwhelm from not knowing

Coming to the table to talk about farm transition

By Elaine Froese April 26, 2017

Farmers often stop me in the hall of conferences to ask deeper questions that are keeping them awake at night. The most common question is, “Elaine, how do we even get people to the table? My parents are refusing to talk, and my grandparents are even more stubborn!” Farm families are stuck because they give

Daily Network News

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Tag Archives farm transition

Pay less tax on farm succession

Top transition tips for young farmers

Passing It On: Young farmers reflect on succession journeys

VIDEO: The dawn of a new generation: celebrating Canada’s farming future

Don’t give away the farm, says transition expert

Start succession planning with a conversation — and then keep talking

The power of a letter to get unstuck

Coming to the table to talk about farm transition

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AGCanadaTV: In case you missed it; your national ag news recap for Sept. 5, 2025

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