Mandryk: Sask. agriculture minister's denials on foreign farmland ownership bizarre

[farmaholic]

Checking, I agree with some of your thoughts.
Although I can't buy what has never been for sale(beside me)!

I may not own a schwack of land but was able to put a nice block together, buying when other people would have had their heels dug in or sitting across the table with their arms crossed and scowling eyebrows. ....like me the last 15 years.

[blackpowder]

I have a landlord that has never risked his neck in farming since he was given the land 50-60 years ago.
Although he has managed his capital gains risk. His beneficiaries will sell it when it becomes a burden. I agree that taxes are a double edged sword.
I have no answers. I only know that change is inevitable and time unstoppable. If something holds no value, it will be wasted eventually. And if you have something of value, there will always be someone who wants to take it from you.

[LEP]

Don't fool yourself when you look at your net worth. Estate taxes like in the UK and US are coming.

That is how governments will pay for Trudeau's mess.

[shtferbrains]

Equity growth in agriculture has been a bright spot in the stagnant economy.
Low hanging fruit for governments buying votes from those tiny spots on the map that elect the LPC?

[LEP]

Absolutely. Most Canadians have no tie to the farm. They don't care if your farm reaches 3, 4 or 5th generation intact.

[blackpowder]

That would only be in the hands of the respective generation.
For one to succeed, another must fail.

[AlbertaFarmer5]

Would just like to thank Chuck for starting this thread about agriculture, and for initiating the very interesting discussion that ensued.

It appears you are making progress with your TDS. Not even a single mention of Trump in this thread until now. That may be the first time you have managed that since the election.
Keep up the good work.
I will keep supporting you in your battle.

[Landdownunder]

Not exactly 100% sure on this in Oz every rural property over 5mill by a foreign investor needs approval and used to be 1 mill for houses probably changed

[farmaholic]

Regarding the threads original theme...

Where there is a will to circumvent the rules, there is always a way.
Especially if those rules are rarely or poorly enforced. Loop holes?
And if those rules have no consequence, what's the deterrent?
Offenders may be a step or two ahead of Authority.

If it's even possible, follow the money. Good luck.

[SmallTimeOperator]

The Farmland Security Board needs more staff, more money, and more legislated teeth to even hope to enforce the current legislation.

The onus needs to be changed to the new purchaser needing to prove citizenship before the transaction happens. Also, the onus needs to be on the purchaser to prove the source of the funds being used before the transaction closes. This would mean every land transaction in the province needs board approval.

This needs to extend to farmland leasing, and also to operating capital used to fund operations. There should be a requirement where every farm has to prove where their operating cash or loan has come from. Foreign operating cash is as big or a bigger problem than the ownership of farmland itself.

And by more legislative teeth, how about jail time for someone acting as a front for foreign money. And also confiscation of all capital gains if a foreigner out of the country is involved in a transaction.