Saskatchewan farmers are taking a cautious approach to federal tax changes this week, but there is support.
The small business tax will drop 1.5 percent by 2019, saving farmers about 75 hundred dollars.
The Trudeau government says family farm transfers won’t be affected by the tax changes and farm groups await more details.
Income splitting will be allowed where it can be shown family members meaningfully contribute to the work and Canadian Federation of Agriculture President Ron Bonnett is happy with that.
“That is one of the things we’ve been looking for,” Bonnett said. “To get some clear definition around it.”
Source : CKRM