APAS concerned over federal tax changes

August 29, 2017 4:43 pm

The Agricultural Producers Association of Saskatchewan is expressing its strong concern about proposed changes to Federal tax rule impacting small business corporations.

“The Canadian Agricultural industry is strongly based on the family farm, and many farm families have used incorporation as a way to ensure that their farms can be passed from generation to generation,” said APAS President Todd Lewis, who sits on the CFA Board. “These proposed changes could have severe impacts on multi-generational farm operations.”

The CFA campaign is asking producers to join other business organizations in calling on Members of Parliament to extend the consultation period, which was announced July 17 and ends October 2.

“This federal government consultation is taking place right when we are busy harvesting our crops, and there has been nowhere near enough time to understand the implications of the proposals,” Lewis continued. “The changes are very technical in nature, and we need more time to fully understand their potential impacts.”

Lewis added that APAS would be contacting Federal Finance Minister Morneau and MPs to express concern, and would be mobilizing APAS members to assist.