Wasted 30 billion????

[bucket]

Totally agree jazz,our neighbour was able to get 240,000 ,(himself,spouse,and two boys).My cousin works part time for SCIC,you would not believe how some farmers try and screw that program.SCIC should hire more auditors, they would easily pay their way and weed out the bad ones that we all end up paying for.

Did anyone else have to supply insecticide bills when SCIC was out?

[Richard5]

En

Finally! Someone says something sensible!
( full disclosure. I applied for the 60 k business loan and paid it off 3 days after receiving it... bcuz why not) is there any difference between that loan and agrinvest? Quick answer.
Nope.

There is quite a bit a difference between the 2 programs. Agriinvest is a long time program allowing every producer with eligible sales the option to receive the matching funds. All the covid programs related to a loss of income because of being shut down, loss of job etc. Grain farming for the most part was one of the lucky businesses to not experience anything significant when it comes to loss of income. I can entertain the debate that a year or 2 later some farms may have been impacted some because of a number of factors but when we compare to your local restaurant, hotel and any service industry that had to close for 3-6 months, thats really what these programs were intended.

Quite disheartening that every local bank pushed this also to everyone regardless of the financial situation or hardship.

I just find it extremely comical that many complain about government waste but were the first in line for the handout.

[Richard5]

Someone explain to me the sixty grand a head thing? I guess I do live under a big rock?

Sheep, there was a loan program available to businesses that experienced a significant loss of income or forced to close their doors because of covid/lockdown etc. The max loan was 60,000 with 20,000 forgivable if 40,000 repaid sometime next year.

Further to this, there were programs manipulated cover a portion of cash land rent. The key item is that your business had to close so many will have sweet surprise.

There were also programs that covered a portion of your ongoing payroll. Again easily manipulated by not selling grain in certain periods and making it look like your income dropped.

I guess no matter what, there will always be people that their focus is to screw the system. Hope they can still hold their head high on the day of reckoning.

[furrowtickler]

We just seen it as a bait and trap set up so stayed clear .
Nothing is free , especially from the Liberals to farmers , feared the strings attached later would be far more detrimental than the gift upfront

[bucket]

Someone explain to me the sixty grand a head thing? I guess I do live under a big rock?

CEBA loan.

[foragefarmer]

Someone explain to me the sixty grand a head thing? I guess I do live under a big rock?

From what I remember,

Borrow $60k and if you repay it within 2 years you only have to pay back $40k.

The remaining $20k is forgiven but is taxable.

Didn't take it because I don't need an audit and the less I'm involved with anything to do the government or the CRA the better, I sleep. Dropped out of AgriStability and Agrivest in 2012.

Those that participated in any of the Covid free government money no matter which program and committed fraud to get it, the CRA should go after them with both barrels. Those the qualified leave them alone.

No forgiveness as the debt is unreal.

[bucket]

From what I remember,

Borrow $60k and if you repay it within 2 years you only have to pay back $40k.

The remaining $20k is forgiven but is taxable.

Didn't take it because I don't need an audit and the less I'm involved with anything to do the government or the CRA the better, I sleep. Dropped out of AgriStability and Agrivest in 2012.

Those that participated in any of the Covid free government money no matter which program and committed fraud to get it, the CRA should go after them with both barrels. Those the qualified leave them alone.

No forgiveness as the debt is unreal.

Audits will be coming .

I do think Trudeau is in so much trouble he will forgive those loans.

Look at what a clusterphuck the recent headlines highlight.

I also think they pushed the CEBA repayment deadline to december 2023. and its all interest free.

[Sheepwheat]

Thanks forage and Richard. Rings a faint bell now. I guess I just didn’t pay much attention, nor did anyone like a bank or accountant approach me about it, so.

[jazz]

Remember that story about 3 weeks after cerb, some clueless NPC went on the news bragging about buying her kids motor bikes with the funds. You knew right there it would be abused.

And Trudeau rolled out another 3 or 4 levels of it after that.

People blew through a few thousand dollars and gave us 8% inflation in return.

There should be an IQ test to be a citizen in this country.

[blackpowder]

Tell me what in life is fair???
Here in Alberta, if you farm, over $10,000 gross, you already get a break off road fuel for all vehicles that no single mom working at Safeway does.
No one ever took out a cash advance?
Only a fool believes himself to be pure. There are far higher levels of hypocrisy than to take free cash shoved down your throat. I don't make the rules but I suffer or gain by them same as every body else.
If the feds can confiscate $60k worth of property from me, I will take their $60k and wipe my arse with it one bill at a time if I choose.
Once a dollar is in govts hands it's already spent.
I do not live in fear of audits.
I've been picked clean by the family law system and fear nothing the stupid govt can do.
Heads up tho. They are doing stupid arbitrary things to your credit lines so talk to your banker. Consider paying it back early.

[jazz]

They arent going to get it back that way BP. Canadas debt to gdp ratio is not far off from what it was in the mid 90s and we all know what had to be done to get things back on track. That AAA rating is as good as toast.

[blackpowder]

Not sure what you mean but if I remember correctly, all your loans had to be in good standing and their system isn't recognizing lines of credit with various anniversary dates. Potentially triggering full interest repay by seeing a default. Do your diligence.

[BreadWinner]

I wouldn’t be to quick to pay it back. Just another Wedge issue to keep the Government in power….. they will totally forgive all the cerb program money and audits in return for a vote in the next election. They will tell all those that got free money the Scary PIERRE is coming for you and will take it away maybe your first born will be taken as well. Lol

[biglentil]

The privately controlled Bank of Canada masquerading as a crown corp with 'special rights' continuing with a 50 basis point hike yestarday. All according to plan like I called before even the 1st rate hike. There will be no letting off the gas until Canada itself is bankrupt.

[TASFarms]

The privately controlled Bank of Canada masquerading as a crown corp with 'special rights' continuing with a 50 basis point hike yestarday. All according to plan like I called before even the 1st rate hike. There will be no letting off the gas until Canada itself is bankrupt.

Isn’t a .5 increase letting off the gas from .75