4o years of Agriculture Insights

Excited to offer our 40th seminar!

2019 Agriculture Update for Professionals Seminar

 
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Introduction

We have been fortunate to continue this seminar, thanks to the support of Alberta Canola Producers Commission, and the continued dedication of our speakers.

This years course will start with a look at planning ideas for estates and wills. We’ll review the requirements for an estate as it relates to the death of a farmer: dispositions, inventory, rights or things, no contest clauses etc. We will then do a deep dive into Capital Gains Exemption and Rollover planning for estates and look at variations in a will and its implications on eligibility. We will round out our discussion by considering options for trusts on the farms estate plan including minor beneficiaries and implications for the farm rollover.

Evolution of the industry has resulted in many options for producers to manage their farm risk We will examine various risk management programs and complete a review of potential cash payouts, benefits, and pitfalls for each of these programs for the average farmer.

 

Events

Seminars run in 8 cities across Western Canada from October 28 to November 6, 2019.

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Seminars

The seminar will also include a panel discussion to debate joint venture arrangements and the practical issues that arise for farms utilizing these structures. In past years, we have discussed in detail how joint ventures can assist farmers in expanding, provide economies of scale, and reduce overall farm tax. Implementing these structures can prove difficult, especially considering the variety between farms. We will discuss different joint venture structures, operational considerations ie: equipment, land, labor as well as long term strategic considerations for joint ventures with an open dialogue between our panel and attendees. The seminar will also include discussion on supplementary income as well as our usual tips/ traps / and revisited issues.

Registration Fee

(inc. coffee, lunch, reference materials)

Register before October 18th – $345 + GST

Register after October 18th – $395 + GST

Material Only – $225 + GST


 
 

Grande Prairie

October 28, 2019

Four Points by Sheraton , 6702 106 St. Grande Prairie, AB. Phone: 1-587-771-1300


Saskatoon

October 30, 2019

Travel Lodge Hotel 106 Circle Drive West Saskatoon, SK. Phone: 1-306-242-8881


Lethbridge

November 1 , 2019

Lethbridge Lodge Hotel & Conference Centre, 320 Scenic Drive South Lethbridge, AB. Phone: 1-403-328-1123


Red Deer

November 5 , 2019

Holiday Inn & Suites 33 Petrolia Drive, Gasoline Alley Red Deer, AB. Phone: 1-403-348-8485


Lloydminster

October 29 , 2019

Lakeland College 2602 - 59 Ave. Lloydminster, AB. Phone: 1-800-661-6490 ext. 5413


Medicine Hat

October 31, 2019

Medicine Hat Lodge 1051 Ross Glen Drive SE Medicine Hat, AB. Phone: 1-403-529-2222


Edmonton

November 4 , 2019

Courtyard by Marriott Edmonton West, 10011 184 St NW, Edmonton, AB. Phone: 1-780-638-6070


Calgary

November 6, 2019

Executive Royal Hotel Calgary 2828 – 23rd St. NE Calgary, AB. Phone: 1-403-291-2003


 
 

Purchase Materials Only:

 

Agenda


 

Death and Taxes... even for a Farmer?

Farm assets on death

  • Estate administration

  • Reporting requirements

  • Dispositions / Inventory / rights or things

The farm will and estate

  • Removing a joint tenant

  • No contest clauses / Non-farm children

  • Vesting and protecting assets

Trusts - is there a place on the farm?

  • Farm rollover concerns

 

 

Supplemental Income - May you always have cows around

Tax treatment of non-traditional farm income sources

  • Gravel, wind and seismic

  • Partnerships and off farm income

 

 

The Aftermath

Structuring 55(3)(a) and 55(3)(b) transactions

  • Implications for accessing capital gains exemption and rollover provisions.

Technical’s / Tips & Traps / Budget Issues

  • Grazing leases, optional inventory, inter-corporate fees, etc.

Last Year revisited - TOSI/ SCI lessons learned

 
 

Risk management programs

  • Payout analysis / Benefits and pitfalls

Capital Gain Exemption and Rollover Strategies

Show me the Money


Discussion Panel – Join the Joint Venture

Top 10 joint venture implementation questions

  • Open discussion between panel and audience

  • Different structures and operational issues

  • Joint venture strategy - when the kids want in

 
 

 

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Speakers

To cover course topics this year we are pleased to be joined by experts from Felesky Flynn LLP including Managing Partner Jeremy Herbet MBA, LL.B, Edmonton Partner Dane ZoBell, LL.B. As well as KPMG LLP partners Colin Miller CPA, CA and Ebony Verbonac CPA, CA, CBV from Lethbridge. We truly thank you for your continued support and look forward to offering this year’s seminar to you.


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Jeremy J. Herbert MBA, LL.B

Jeremy is managing partner of Felesky Flynn LLP (Edmonton and Saskatoon), his practice covers a broad spectrum of taxation law matters including corporate, personal tax planning, GST/HST matters and purchases and sales of businesses. Jeremy graduated from the University of Alberta with a combined LL.B/MBA degree.

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Colin Miller, CPA, CA

Colin is the office managing partner for KPMG in Lethbridge. A large focus of Colin’s practice is assisting agricultural clients in implementing reorganization plans for tax, succession and estate planning purposes. Colin currently publishes monthly articles on various agricultural tax topics in The Western Producer.

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Dane ZoBell, LL.B

Dane is a partner in Felesky Flynn LLP Edmonton Office. His practice covers a broad spectrum of taxation law matters including corporate and personal tax planning and all forms of estate planning, estate administration and contested estate matters. Dane graduated with distinction from the Faculty of Law at the University of Alberta.

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Ebony Verbonac, CPA, CA , CBV

Ebony is a partner in the tax group with KPMG in Lethbridge. Ebony works closely with her clients to determine succession strategies that make sense from both a tax and business perspective. Ebony has shared her expertise at various seminars, facilitated at many CPA institute tax courses and writes monthly articles for Alberta Beef Producers.

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Joel Bokenfohr, MFRE

Joel focuses on assisting primary producers with decisions on succession planning, business structures, farm financials. Joel has a Master’s Degree from the University of British Columbia, Degree from Grant MacEwan and AgriBusiness Certificates from both Texas A&M and University of Sao Paulo, Brazil. Joel farms in the Sturgeon County, AB with his family.