By Alice McFarlane

Agriculture Roundup for Thursday March 18, 2021

Mar 18, 2021 | 9:54 AM

Alberta’s agriculture commodity and producer groups are asking the Alberta government to accept proposed changes to AgriStability.

Agriculture and Agri-Food Minister Marie-Claude Bibeau along with Manitoba MP Jim Carr spoke to media and stakeholders yesterday to provide an update on talks surrounding business risk management (BRM) programs.

On Nov. 27, the federal government recommended the removal of the reference margin limit and increase the compensation rate from 70 per cent to 80 per cent.

The 11 groups agreed the changes would provide immediate improvements to the program for producers’ benefit. The group also said they realize the proposal is not a long-term solution but offers interim changes while working towards long-term enhancements to the suite of BRMs.

The April 30 AgriStability enrollment deadline is approaching and accepting the current proposal would offer Alberta’s producers meaningful options that will serve as a bridge to the next policy framework in 2023.

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The groups represent barley, beekeepers, canola, cattle feeders, pork, pulse, sugar beet, potato and wheat organizations along with the Alberta Federation of Agriculture.

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SaskCanola is reminding producers about the Scientific Research and Experimental Development Tax Incentive Program (SR&ED Tax Credit).

For the 2020 tax year, 26.7 per cent of producers’ levy is eligible for the federal tax credit by means of cash refunds or reduction to taxes payable.

The tax credit percentage is based on the dollar amount SaskCanola has invested in research and development that meets the criteria laid out by the Canada Revenue Agency (CRA).

Farm corporations can claim 17 per cent of their levy contributions as a qualifying expenditure towards the SR&ED Tax Credit.

Producers that have requested a refund of their levy are not eligible for either tax credit.

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alice.mcfarlane@jpbg.ca

On Twitter: @farmnewsNOW