Cbc video on farm transfer

[jazz]

While I am sure there are exceptions, its unlikely this model will catch on. Imagine that farmers mindset. he has worked for 30+ yrs probably, seen a lot of shit, now his own family doesnt want anything to do with it. I highly doubt he is going to feel real generous at that time.

[westernvicki]

Love warm and fuzzy too, we all know folk who would love to farm but do not have land. Indeed they would treasure the gift beyond measure. Salutes to those who chose this route and to the families who support the legacy of those who chose to give this gift. My bet its complicated, always is when it comes to inheritance.

[jazz]

Love warm and fuzzy too, we all know folk who would love to farm but do not have land. Indeed they would treasure the gift beyond measure. Salutes to those who chose this route and to the families who support the legacy of those who chose to give this gift. My bet its complicated, always is when it comes to inheritance.

Be careful with this narrative that young farmers are so humble and virtuous. They work the other way too. I have seen personally the aw shucks type come in and want a little break only to turn into a tyrant later on. My dad fell for someone like this.

[pourfarmer]

In my opinion, Jim wants nothing more then to pass down hard won knowledge, and see himself, as he seen his father when he was first starting out. I feel like he thinks he earned that right after a life devoted to the farm.

[AlbertaFarmer5]

While I have made my disdain for any type of government meddling in private business very clear, this is one case where I could justify it.

If you take the position that rural areas, and the economy as a whole would be better off with more smaller family farms( and that is of course a debate all to itself...), then using the tax structure and incentives to encourage a retiring farmer, ( or any other business for that matter) to split up the operation and allow multiple players to buy smaller portions, rather than it all going to his own kids, or getting amalgamated into an even bigger neighbor could accomplish this.

Tax incentives such as being able to write off not only interest, but also principal on your first properties for any genuinely new farmer. And capital gains breaks for selling land in separate parcels to genuinely new farmers. Need a carrot and stick so perhaps renting your land out for decades instead of selling it and giving someone else a chance has big tax and capital gains implications.

This comes back to my assumption that inheritance/lineage doesn't guarantee that we always get the best person for the job. Just because your great grandpa worked really really hard, invested wisely, took the right risks at the right time and was a really good farmer, doesn't mean you also have those same qualities. There may be many others much better qualified and motivated, but they will never get the chance thanks to the inheritance model.

Let 10 young people make an attempt, instead of having it all go into one BTO's oepration, and perhaps 9 will fail and only one of the 10 will end up owning/farming it all after a decade anyways, but at least it will assure that the best candidate wins it fair and square.

Lots of complications ( a big farm in the fraser valley is different than the QuAppelle valley, no one size fits all definition), room for abuse etc.

BTO's aren't a big issue around here, and no sour g****s on my part, but this country is full of land that isn't producing even a small fraction of its potential, or doesn't even get farmed at all or rarely. And a common theme is the owners never payed a cent to acquire it, so have little motivation to make it pay for itself, meanwhile there are lots of young guys and girls who would kill for an opportunity to farm on any scale, but they rarely present themselves.

[bucket]

While I have made my disdain for any type of government meddling in private business very clear, this is one case where I could justify it.

If you take the position that rural areas, and the economy as a whole would be better off with more smaller family farms( and that is of course a debate all to itself...), then using the tax structure and incentives to encourage a retiring farmer, ( or any other business for that matter) to split up the operation and allow multiple players to buy smaller portions, rather than it all going to his own kids, or getting amalgamated into an even bigger neighbor could accomplish this.

Tax incentives such as being able to write off not only interest, but also principal on your first properties for any genuinely new farmer. And capital gains breaks for selling land in separate parcels to genuinely new farmers. Need a carrot and stick so perhaps renting your land out for decades instead of selling it and giving someone else a chance has big tax and capital gains implications.

This comes back to my assumption that inheritance/lineage doesn't guarantee that we always get the best person for the job. Just because your great grandpa worked really really hard, invested wisely, took the right risks at the right time and was a really good farmer, doesn't mean you also have those same qualities. There may be many others much better qualified and motivated, but they will never get the chance thanks to the inheritance model.

Let 10 young people make an attempt, instead of having it all go into one BTO's oepration, and perhaps 9 will fail and only one of the 10 will end up owning/farming it all after a decade anyways, but at least it will assure that the best candidate wins it fair and square.

Lots of complications ( a big farm in the fraser valley is different than the QuAppelle valley, no one size fits all definition), room for abuse etc.

BTO's aren't a big issue around here, and no sour g****s on my part, but this country is full of land that isn't producing even a small fraction of its potential, or doesn't even get farmed at all or rarely. And a common theme is the owners never payed a cent to acquire it, so have little motivation to make it pay for itself, meanwhile there are lots of young guys and girls who would kill for an opportunity to farm on any scale, but they rarely present themselves.

Like the ideas but BTOs have more input into political things than the the smaller first try guy.....pun intended if you caught it...

[fjlip]

Turdo gets a big CUT if you give/sell to unrelated currently...

[blackpowder]

Capital gains tax hastens the amalgamation for sure. Like the idea of a break if sold to qualified young buyer.
A lot of land gonna change hands here soon looking at the age of owners.

In doing my own estate. Because kids are still minors.
Everything to a young unrelated guy with farming under his fingernails. He has to manage trusts for kids until adult, and gets first right to rent and purchase at half market.
My reasoning was: To hell with siblings who left at 17. They sure came back when Ma died. And BTOs.
And greedy woman who I swapped genetics with. And her lawyer. And kids who will just blow it. They'll have funds for education. But it'll go to toys anyway.
Where the hell was a guy like me when I was younger. Giving someone the chance I never had.
And no, I don't let him take me fishing..... Lol.

[ajl]

Well if the government would stop printing money, land would not have speculative value in its price tag and then suddenly there would be a lot more people who could hope to own land by working hard and saving towards that goal. Having asset prices inflate at a pace far more rapid than you can save is the reason so many are shut out of opportunities and why rural communities are dying. Sound money would solve 95% of this problem. But we are so used to voodoo economics of artificially cheap credit blowing asset bubbles that sound money is a foreign concept. Old guys keep hoarding high priced assets until they die. Many farmers got a start or chance to grow after the deflation of the 1980's.

[farmaholic]

..............more people who could hope to own land by working hard and saving towards that goal. Having asset prices inflate at a pace far more rapid than you can save ......... Sound money would solve 95% of this problem. But we are so used to voodoo economics of artificially cheap credit blowing asset bubbles that sound money is a foreign concept............. Many farmers got a start or chance to grow after the deflation of the 1980's.

Even if you couldn't save enough because of hyper inflation......it hardly makes any sense no matter how you look at current land values.....even if you can pay cash! I seriously think the hyper inflation is done and history might be repeating itself and a correction could be around the corner. Some people got to the party late.