When you’ve been in the business as long as I have, you inevitably run into the question of why this business. I’m proud to say that when it comes to Farming Families, that’s never been a difficult question. Farming Families exists because I and Albertans across the prairies love farming, and we’re willing to work towards a future where land is owned and farmed by the next generation.
As the current generation of farmers began reaching retirement, it became more and more clear that there was a missing element. Farming Families was created to fill this element. You see, I realized that retiring farmers wanted their land to stay in agriculture, but they also wanted to sell some or all of their farm. It was clear that land wasn’t affordable anymore, and most young farmers couldn’t afford to buy enough land to make a living at farming. Some retirees could solve this complication by passing farmland down directly to the next generation, but fewer farm-kids than ever are staying in rural Alberta. The disconnect between the retiring farmers and the young farmers was where all the struggle was stemming from. That’s where Farming Families came in.
By working with investors who could afford to buy farmland, retirees who wanted to avoid pension funds that wouldn’t keep their land in agriculture, and young farmers who were eager to begin, we managed to bridge the troubles and reconnect the necessary parties.
Through our program, retirees are able to leave farming with dignity. They can achieve their lifestyle goals and know that the next generation of farmers is there to keep the agriculture industry in Alberta strong. Young farmers have the opportunity to access land they’d never be able to afford on their own. They can begin farming and doing what they love with enough land to farm full time. Investors benefit from capital gains and have few taxes — or possibly even no taxes — to worry about. It’s a system the truly works for the benefit of everyone.
Farming Families brings together a passion for farming, years of real estate experience, and expert knowledge of Canadian agriculture taxation law. We want Alberta farmers to meet their goals and to know that those goals are possible. Farming Families works because, like our young farmers, we are truly passionate about and believe in Alberta agriculture.
If you’re struggling with managing your farm taxes or aren’t sure how to move forward with buying or selling farmland, the team at Farming Families is here for you. Call us today at (403) 277-2605 and let us help you meet your priorities and reach your goals.