record calf crop

[cowman]

Bombay: I can generally go with your formula except there has got to be some kind of exemption for the young guy starting out. Lord knows we need some more young guys! For a lot of these young fellows it might take a few years before they show any kind of profit? Now I don't know about you but I'm getting a little leery when I go to whatever ag thing and I'm close to the youngest guy there!
We need some major incentives to renew the farmer in this country???

[raymondb]

I wander if the "farmers who don,t know one end of the cow to the other" are the ones who helped inflate the value of cattle as they were purchasing them. What would the value have been without these guys bidding at the auction marts?

I kinda get lost with the capital gains arguement. In my mind one half million dollars capital gains free is still good and the new capital gains rules mean that you pay less taxes as you claim only 50% now. If you end up paying taxes on capital gains , you have done real well.

[bombay_43]

Raymondb; I stand corrected, and I thank you for clearing the capital gains exemption up for me. I have a neighbor who sold out his farm land last year, and he informed me the amount you were exempt had gone down! I phoned Revenue Canada, and got the low down on Capital gains. It use to be that ¾ of your gain was taxable up until 2001, when it was changed to ½ of the gain being taxable. You are right in saying the 50% rule makes it even better!