Farmers are finally done in their fields this year and many showed up for the Alberta Canola Producers meeting in Lacombe yesterday, to voice their concerns and hear from experts on several key issues.
Director, Terry Young said some were concerned about canola’s growing resistance to clubroot, a parasite that infects the roots and restricts the flow of water and nutrients.
Young explained how famers can better protect themselves against the disease.
“I can’t stress enough about the importance of a longer rotation, to help reduce the spore load, that’s always important. Also, rotate to different genetics, which is a good management tool. Lastly, you just have to be aware of it.”
President of ProFarmer Canada, Mike Jubinville was on hand to talk about the grain markets and the overall big picture issues affecting agriculture.
Jubinville explained that one of those issues includes the upcoming Presidency of newly elected Donald Trump.
“Certainty trade is going to be a big one, when we talk about renegotiations, or tearing up our agreements, whether it’s NAFTA or the Trans Pacific Partnership. Also, the US trading relationship with China has some implications for Canada as well, if President Trump is going to be as aggressive as he says about putting controls on imports from China.”
Other concerns Jubinville noted is that Trump is not in favour of putting a price on carbon which Canada is looking to do. Along with additional implications if Trump were to pull out of the Paris Climate Change agreement.
Private Consultant in family farm succession, Merle Good was also there discussing three strategies when it comes to turning over your farm to the next generation.
“For this taxation year and for 2017 as farmers, use your capital gains exemption while you’re still alive. I think this is something we’re not doing enough of. The reason why I want you to use your exemption when you’re alive, is that it allows you to pull money out of your business tax free”
Good added that strategy two includes selling a portion of your land to family while renting out the other portions to cover land tax.
Lastly, if you own a company, the third strategy he suggested, is selling a portion of your land to that company which creates a tax free pension and use the capital gains exemption while you're still alive.
The Alberta Wheat Commission hosts its producers meeting on Nov. 29th.