Federal Budget 2021 speech & ACCELERATED DEPRECIATION FOR FARMERS.

[shtferbrains]

So oneoff can you get a 45% govenment/power co rebate on solar panels and take a 100% write off on the full amount and then get a subsidised price when selling power to the grid if you have enough to get a contract?

With no worries abuot recycle. Just throw them in the dump when they reach Chinese made obsolescence. About 1/2 thier expected lifecycle.

Should encourage some expansion.

[oneoff]

So oneoff can you get a 45% govenment/power co rebate on solar panels and take a 100% write off on the full amount and then get a subsidised price when selling power to the grid if you have enough to get a contract?

With no worries abuot recycle. Just throw them in the dump when they reach Chinese made obsolescence. About 1/2 thier expected lifecycle.

Should encourage some expansion.

No this pertains to "accelerated" depreciation which sounds similar to what US farmers have had for years.
You certainly don't get to use more tha 100%: and when you are done with the asset (and it is sold and accounted for) there is a recaptured value that becomes taxable.
All your story pertains to a narrative that does not belong in this thread.
Now that a Canadian election is to be held
"Is the Apr 19 proposal already etched in stone for 4 years"

[oneoff]

The scarce new information on this topic leans towards only applying to CCPC "farmers". That translates to Canadian Controlled Private Corporations.

I always thought a corporation was its own unique entity; never needed to die and certainly wasn't classified as a farmer... but more correctly referred to as a farming business.

Well thanks a whole heap you Eastern SOB's and especially the Liberals who certainly didn't advertise this as a corporate incentive.

Along with the shit kicking the West comes in for almost every other initiative ; this is in line with what FARMERS come to expect from elected officials who have absolutely no idea of what is friendly and positive for all entrepreneurial farm business.

[ry0972]

The scarce new information on this topic leans towards only applying to CCPC "farmers". That translates to Canadian Controlled Private Corporations.

I always thought a corporation was its own unique entity; never needed to die and certainly wasn't classified as a farmer... but more correctly referred to as a farming business.

Well thanks a whole heap you Eastern SOB's and especially the Liberals who certainly didn't advertise this as a corporate incentive.

Along with the shit kicking the West comes in for almost every other initiative ; this is in line with what FARMERS come to expect from elected officials who have absolutely no idea of what is friendly and positive for all entrepreneurial farm business.

Yes from what I read and was told by an accountant the accelerated depreciation is for corporations ONLY.
Farm corps are just getting lucky to use something created for the corps out east and in the major cities.
The only farms it will really help is guys like me that upgrade equipment then run it till it is obsolete and sold by the pound as scrap!!!
Guys that keep modern equip and trade regularly could get burned badly as their trades are worth more than they paid and they have to pay capital gains on equipment sales.
The new(er) equipment will be worth a lot more if they are upgrading but guys that are selling out or downsizing could get hit with a tax bill??

[oneoff]

Maybe one of the real questions is then if this accelerated is designed to provide options for corporations and incorporations, but definately leaving out a whole class of farmers who are meant to have no future.

Thaks a whole heap. Like the guy said; maybe time to phone the farm stress line OR how about telling those making decisions things like what makes you think there will be any need for pipelines if producers refuse to offer any products to put in them.

Think BC and their gasoline shortages. Isn't that just too bad.

[fjlip]

MNP just last week said it STILL is not law, budget not passed. Wait for the TURD!

[Richard5]

The discussion around this really should be minimal to me. Unless you are like S3 and pay cash for everything there is no real major benefit. You are not getting anything more than before other than a quick deduction and a future tax issue down the road.

The way I look at it, if you take the deduction, make sure you take a large inventory adjustment to get to $500,000 or even $600,000 this year, especially in Sask.

[farming101]

more appeal for the guy trying to get down to 600, and needs the upgrade