Proposed changes to the tax structure may have negative implications on farmers.

Proposed changes to the tax structure may have negative implications on farmers.

Finance Minister, Bill Morneau, announced plans last Tuesday to stop higher income earners – such as doctors and lawyers, from “income sprinkling”.

The federal government wants to target high- income Canadians who use their private corporations and family members to reduce taxes.

Accountant and partner of Muth & Co LLP, Steven Muth, says this change will effect more than just whom their targeting.

“Many agricultural producers have family working on the farm. That’s the only way farming is sustainable, you have the family work, and for taxation purposes you pay them an income. If the CRA brings in these changes in a broad sense, and does not allow for rational thinking and feedback, it’s just one more level of burden upon the average business owner.”

The proposed changes would prevent business owners from using their private corporations as a way to shift their income to family members; even if they are not involved in the business.

Town of High River Promotional Video

The Town of High River has released a promotional video highlighting the largest industry in High River; Agriculture.

This is the second of four videos being created in the Town’s Rooted in People Series, which began in May 2017.

The company hired to make the video, has been busy collected material from local producers and stakeholders for the past couple months.

Angela Groeneveld, Business Development Specialist for the Town of High River Economic Development Department, says they are pursuing stakeholders in the agriculture industry to invest in High River.

“The new video highlights Agriculture, High River’s largest industry. We have learned that from doing an analysis of our business licenses from the past, future,our trading region, and surrounding area.”

She adds, it’s an excellent place to set up shop, since High River is home to some of the most diverse farm land in the world.

The next videos in the series will focus on family, community, and adventure.

For more information, you can visit theirĀ website.

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Posted by Our High River on Friday, June 23, 2017