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Saskatoon Farm Advisor Meeting

December 18, 2018 @ 11:45 am - 1:00 pm CST


Farm Transitions: A Case Study

Background and facts

• Incorporated farm operation owned by son (2/3) and dad (1/3)

• Mom was bought out by son via the sale of shares and use of the capital gains exemption

• Son and his wife have not used any of their capital gains exemption and dad has used most of his

• Also a custom spraying corporation owned 50-50 by father and son


• Dad is ready to exit the business entirely and pass the reigns on to his son

• Son’s wife is active in the operation but not a shareholder (to be brought into the business ownership structure)

• Son’s kids (university age) are interested in the farm. Consideration of options to get them involved on an equity bas,is

• Monetizing the capital gains exemption for son and his wife is a priority

• Dad has VA to non-farming kids. Dad’s goal is to give them something from the farm as a part of his estate

• Accomplishing all objectives in a tax efficient manner is key


Byron Bitz, CPA

Buckberger Baerg & Partners LLP I was born and raised in Saskatoon and spent a large part of my childhood around a farm operation. I pursued an education in the U.S. (Cornell University) and was afforded the opportunity to play professional hockey for a number of years after college. During this time, I began operating a grain farm near Elstow, Saskatchewan. I practice primarily advising owner managed businesses in the agriculture sector and provide a wide variety of services including tax compliance, succession planning and corporate re-structuring.


December 18, 2018
11:45 am - 1:00 pm CST


Dana Cole


Smiley’s Buffet
702 Circle Drive East
Saskatoon, Saskatchewan S7K 3T7 Canada
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