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Farm Business Advisor
The Manual for farm families and their professional advisors
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Chapter 8: Farming Basics

Agricultural producers are a unique group of business people. They not only make a significant impact on the economy (for example, $3.11 billion gross agricultural production in Manitoba [2000]), they have the challenge of managing their business affairs within the parameters of the family - with its history and traditions.

This chapter on farming basics is a grouping of issues that are particular to agribusinesses. This chapter will be useful whether the topic is commodity futures markets, advising farmers immigrating to Canada, accessing government programs, informing farmers about environmental regulations, new generation co-operatives, or Canada Revenue Agency (CRA) Private Rulings and Interpretations. Agriculture acronyms and terms can be found by going to the Appendix at the end of the chapter under A Glossary of Agriculture Terms or refer to the Internet site, A Glossary of Agriculture Terms, Programs and (U.S.) Laws: http://agriculture.house.gov/info/glossary.html

Contents

  • Agricultural Market Risk Management
    • Introduction
      • A Marketing Program is not just selling
    • Agricultural Price Risk Management: Hedging
      • Origins of Commodity Markets
      • The Need for Hedging
      • The Cash and Forward Markets
      • The Futures Market
      • Exchange Rate Risk: The Canadian Dollar
      • Using Professionals: The Commodity Specialist
      • Futures Market Terms and Definitions
  • Canadian Taxation Issues For Farmers Immigrating to Canada
    • Introduction
    • The Canadian Tax System
    • Federal Goods and Services Tax
    • Provincial Retail Sales Tax
    • Federal and Provincial Income Tax
      • Residency and Scope of Taxation
      • Sources of Income
      • Taxation Rates
      • Taxation on Death
    • Taxation of Farmers
      • Immigration Trusts
  • Government Programs
    • The Canadian Agricultural Income Stabilization Program (CAISP)
      • Deposits
      • Choices for Protection
      • Production Margin
      • Production Insurance
      • Transition to the New Program
    • Net Income Stabilization Account (NISA)
    • Agriculture Income Disaster Assistance Program (AIDA)
    • Manitoba Agricultural Services Corporation (MASC)
    • Agriculture Financial Services Corporation (AFSC) Alberta
    • ACC Farm Financial - Ontario
    • Farm Credit Corporation (FCC)
      • Transition Loan
      • AgriStart 1-2-3 Grow Loan
      • AgriStart Payday Loan
      • AgriStart Cash Flow Optimizer
    • Other Agricultural Credit Programs
    • Environmental Regulations
      • Introduction
      • The Agricultural Operations Act (Saskatchewan)
      • Farming and Food Production Act, 1998 (Ontario)
      • The Farm Practices Protection Act C.C.S.M. cF45. (Manitoba)
      • The Noxious Weeds Act (Saskatchewan)
      • Burning of Crop Residue and Non-Crop Herbage Regulation (M.R. 77/93)
      • Livestock Manure and Mortalities (Manitoba) Management Regulation (M.R. 42/98)
      • Intensive Livestock Operation: Legal Issues and Guidelines
      • The Contaminated Sites Remediation Act (Manitoba) (C.C.S.M. c. C205)
      • The Dangerous Goods Handling and Transportation Act (Manitoba) (C.C.S.M. c. D12)
      • The Environment Act (Manitoba)
      • Pest Control Products (Canada) Act & The Pest Control Products (Saskatchewan) Act
  • New Generation Co-operatives
  • Recent Canada Customs and Revenue Agency Private Rulings and Interpretations
  • Additional Internet Links
  • Critical Issues Checklist At A Glance
    • Government Programs
      • The Canadian Agricultural Income Stabilization Program (CAIS)
      • MASC
      • FCC
      • AFSC
      • ACC Financial
    • Environmental Regulations
    • New Generation Cooperatives

Appendix

  • Checklist At A Glance: Farming Basics
  • Glossary of Agricultural Terms
  • F30 The Farm Income Assurance Plans Act
  • NISA (note: this links to the official NISA section on the Federal Government's website)
  • Financial Programs for Manitoba Farmers (Acrobat PDF format)
  • Cattle Production in Manitoba – Quick Facts (Acrobat PDF format)
  • Managing Stress - Keeping the Pieces Together (Acrobat PDF format)
  • Capital Gains and Losses (Acrobat PDF format)
  • Taxation Series - Miscellaneous Tax Deductions (Acrobat PDF format)