Farm Tax Update 2020

Scheduled for Oct 15, 2020

Canada's Virtual Farm Tax Update 2020

Presented by the Canadian Association of Farm Advisors (CAFA) Inc., Canada's only national network of Certified Agricultural Farm Advisors®.

CAFA is dedicated to assisting farm families and businesses by increasing the skills and knowledge of farm advisors.


Eastern Standard Time Indicated


REGISTRATION DEADLINE: Friday, October 9

Moderators:

Tyler Kachur, CPA, CA, CAFA®

Buckburger Baerg & Partners CPAs LLP

Saskatoon, SK


Tyler Kachur is a partner with Buckberger Baerg & Partners LLP.  Born and raised in Saskatoon, Tyler graduated from the University of Saskatchewan in 2001, earned his Chartered Professional Accountant designation in April 2005, and completed the CICA In-Depth Tax Course in 2010. With 20 years of professional experience, Tyler is well versed in farm reorganizations, and estate and succession planning. Tyler is the Chair of the CAFA branch in Saskatoon, manages his firm’s Ag Practice and has presented at numerous conferences, including the CAFA Tax Update, Prairie Provinces Tax Conference and the National Conference on Income Taxes.  Tyler and his wife Sue have four young boys who keep their lives very busy. Tyler enjoys coaching his kids’ activities and spending time at the lake.


Craig Macfie, B.Sc., CPA, CA

Stark & Marsh CPAs LLP

Swift Current, SK

Craig earned his Bachelor of Science in Agriculture from the University of Saskatchewan in 2010 majoring in Soil Science and minoring in Agribusiness. Later that year, Craig began his articling career with Stark & Marsh CPA LLP, earning his CPA, CA designation in 2014.

Craig is currently enrolled in Texas A & M’s Executive Program for Agricultural Producers which primarily focuses on teaching advanced agribusiness skills such as evaluating global economic development, niche market evaluation, analyzing and forecasting financial position, and personnel management and negotiation.



Planning for Increasing Tax Rates

• Impacts on your farm transition planning due to an uncertain tax future.
• Business structure and items to consider now for potentially higher tax rates in the future.
• Increasing tax rates and the impact to your farming operation cost structure.

Scott Assman, CA, CPA, CAFA®, Partner MNP LLP, Ottawa, ON
Scott is a Partner with MNP’s Taxation Services group in Ottawa, Ontario. His position allows him to work diligently with his clients to understand the clients’ financial situation, business structure and overall goals. Scott strives to deliver business structure and taxation advice to clients to help them meet their objectives. Scott has years of experience with MNP LLP from their  Saskatchewan offices and has a background in agriculture tax and business structures, among others.

Over the past 10 years he has worked with farming families and businesses as a business advisor from a taxation perspective.

Tyler Kachur

Tyler Kachur is a partner with Buckberger Baerg & Partners LLP.  Born and raised in Saskatoon, Tyler graduated from the University of Saskatchewan in 2001, earned his Chartered Professional Accountant designation in April 2005, and completed the CICA In-Depth Tax Course in 2010. With 20 years of professional experience, Tyler is well versed in farm reorganizations, and estate and succession planning.

Tyler is the Chair of the CAFA branch in Saskatoon, manages his firm’s Ag Practice and has presented at numerous conferences, including the CAFA Tax Update, Prairie Provinces Tax Conference and the National Conference on Income Taxes.  Tyler and his wife Sue have four young boys who keep their lives very busy. Tyler enjoys coaching his kids’ activities and spending time at the lake.

Craig Macfie

Craig earned his Bachelor of Science in Agriculture from the University of Saskatchewan in 2010 majoring in Soil Science and minoring in Agribusiness. Later that year, Craig began his articling career with Stark & Marsh CPA LLP, earning his CPA, CA designation in 2014.

Craig is currently enrolled in Texas A & M’s Executive Program for Agricultural Producers which primarily focuses on teaching advanced agribusiness skills such as evaluating global economic development, niche market evaluation, analyzing and forecasting financial position, and personnel management and negotiation.

Capital Gains Exemption: Use It or Lose It
• Strategies to optimize use of the farm family’s capital gains exemption
• Creative ways to be fair to non-farm family members
• TOSI and the farm

Mona Brown, B.A., LL.B, CAFA, C. Arb, TEP, PKF Lawyers
Mona has been helping farm families succession plan for 41 years. She has been a leader in developing plans that effectively use the entire family’s capital gains exemption while being fair and planning for family law concerns. She uses her training in alternative dispute resolution to ensure the entire family know and accept the plan.

Andrew Winkless, B.A., LL.B., CAFA®, PKF Lawyers
Andrew has practised in Carman, Manitoba, since 2007, focusing on corporate-commercial, estate and succession planning, and taxation law with an emphasis on farm and small business tax. Before taking up the practice of Law, Andrew worked for 3 years teaching English in rural Japan.

Breaking Up Is Hard To Do: Splitting Up a Corporation
• The purpose of the butterfly rules.
• Review of related party reorganizations
• Review of true butterfly reorganizations
• Issues, tips and traps

Kurt Oelschlagel, FCPA, FCA, TEP, CAFA®, Partner,
Canadian Tax, Transaction Tax, BDO Canada LLP
Kurt is BDO’s National Agriculture Tax Leader. Kurt is a tax specialist and group office managing partner with BDO Canada LLP.

Kurt’s practice focuses on owner-managed businesses with a particular emphasis on agri-business and professional clients. His areas of expertise include federal and provincial income taxation including corporate restructuring, estate planning, personal and corporate tax planning and commodity tax. Kurt also served as a member of BDO’s policy board for six years and is a past member of the ICAO Professional Conduct Committee.

Kurt is a graduate of the Honours Economics program of Wilfrid Laurier University. Kurt joined what is now BDO Canada LLP in 1988, obtained his Chartered Accountant designation in 1989 and became a partner in 1995. He was admitted as a Fellow of the Institute of Chartered Accountants in 2011. Kurt is also a member of the Society of Trust and Estate Practitioners.

COVID-19 Programs for Farms

Jaclyn Cairns, CPA, CA, CAFA®, Grant Thornton LLP
Jaclyn is a CPA, CA and has completed CPA Canada’s In-Depth Tax Course. She also lectures at both the University of Western Ontario and the Richard Ivey School of Business on an occasional basis since 2011 on topics including  financial accounting, managerial accounting and personal and corporate income tax.

Jaclyn specializes in estate and succession planning for clients in the agriculture space. She evaluates their current business structure(s), will(s) and goals and helps them align their structure and estate plan with those goals.

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Farm Succession: A Partnership Alternative
• Finding your succession path
• Transition outside of the family
• Transition within the family – traditional alternatives
• Transition within the family – partnership alternative
• Partnership alternative - capital gains deduction
• Partnership alternative – tax on split income

Jason Heinmiller, B.Comm., CPA, CGA, CAFA®, Baker Tilly SK LLP
Jason is a partner at Baker Tilly SK LLP in Yorkton, Saskatchewan. He completed his undergraduate degree at Carleton University in Ottawa and articled at a regional firm in Southern Ontario, before moving west in 2006. He obtained his accounting designation in 2007 and completed the CPA In-Depth Tax Course in 2013. Jason focuses his practice on owner-manager taxation issues, including business reorganizations and succession planning – In rural Saskatchewan, that means agriculture.

Jason is an executive on the Parkland CAFA board and also speaks at various seminars and events held in the region. Outside of accounting, he spends too much time immersed in guitars and gear, and not enough time finishing projects around his acreage.

New Accounting Standards for Farm Inventory (ASPE 3041)

Highlights of the presentation include:
• Scope & timing of new accounting standards from CPA Handbook - Section 3041, Agriculture
• When to recognize agricultural inventories and productive biological assets in financial statements
• Measurement of agricultural inventories and productive biological assets
• Impact on financial statement users - presentation and disclosure considerations

Chris MacPhee, B.Comm., CPA, CA, CAFA®, Partner,
MRSB Chartered Professional Accountants
Chris is a Partner at MRSB Chartered Professional Accountants in Prince Edward Island. Over the past 14 years, Chris has been providing professional services in accounting, tax and business advisory to clients in Prince Edward Island and Nova Scotia. Growing up in a small community in rural PEI surrounded by farming and fishing has provided a solid foundation to provide practical and useful advise to local farmers.

Chris specializes in a variety of industries including agriculture, retail sales, real estate development and not-forprofit organizations. Chris also serves as the Chair of the Charlottetown, PEI Chapter of CAFA.

Family Law & the Farm
Ideally, couples would stay together until death do them part, but the reality is that couples separate and divorce. The financial impacts of a separation or divorce can be enormous. For farmers it can mean the end of their livelihood and sale of their business. How can farmers protect themselves from these devastating results? Find out as we discuss cohabitation and marriage contracts, shareholder agreements and general tips and tricks to reduce the impacts of a separation or divorce.

Catherine McCorquodale, M.Sc., J.D., CAFA®, Monteith Ritsma Phillips
Cate grew up on a dairy farm near Embro, Ontario and continues to be actively involved in her family’s dairy operation today. She owns a number of cattle under the Catidid prefix.


Cate attended the University of Guelph where she studied Animal Science and obtained a Bachelor of Science in Agriculture. She then completed a Master’s of Science at the Ontario Veterinary College, focusing on the genetics of dairy calf health. Cate graduated with a J.D. from Western Law in 2014.


Cate was called to the Ontario bar in 2015 and is excited to start her legal career at Monteith Ritsma Phillips Professional Corporation. She looks forward to helping clients with all their legal needs. She has a particular interest in assisting clients in transitioning their farms, whether it is to the next generation or a new owner.

Revisiting the Estate Freeze in a Pandemic
• Freezing the family business
• Navigating tax traps and pitfalls
• Wasting the freeze
• When values decline

Bryan Hubbell, CPA, CGA, CAFA®, Principal, Manning Elliott,
Accountants & Business Advisors Bryan is a member of the Manning Elliott Tax Department with expertise in personal and corporate income tax planning and estate and succession planning.

He is particularly focused on providing timely and effective tax advice to privately held businesses and their shareholders. In addition, Bryan is experienced in dealing with the cross-border structuring issues that arise for foreign companies wishing to establish businesses in Canada. Bryan serves clients in a wide range of industries including agriculture, manufacturing and professional services. His clients value his extensive tax knowledge and ability to guide them through increasingly complex tax laws.

After working as a senior accountant for a mid-sized accounting firm in the Lower Mainland of BC, Bryan joined Manning Elliott in 1999. He obtained an accounting diploma in 1994 and achieved his Certified General Accountant designation in 2000. In 2004, Bryan completed the Canadian Institute of Chartered Accountants In-depth Income Tax Course.

Leverage Life Insurance & Farm Corporations
• Farm corporations typically need life insurance for equalizing estates with non-farming kids
• Cash is often needed to fund operations and not available for insurance premiums
• How can leveraged life insurance (i.e. the Immediate Financing concept) help?
• What tax and other considerations should you and your client be aware of?

Joel Campagna, CPA, CMA, CFP®, AVP Regional Tax and Estate Planning, Individual Insurance
Joël Campagna, Regional Tax, Retirement and Estate Planning supports Central Canada, Northern and Western Ontario, and Atlantic Canada. In this role, Joël provides support and consultation to financial advisors and other partners to deliver integrated insurance, wealth and tax planning solutions.

Joël is a Chartered Professional Accountant (CPA) and has over 24 years of taxation experience including personal, corporate and international tax. He joined Manulife in 2008 after 11 years at a national accounting firm where he provided tax advice to private corporations and their shareholders as well as large multinational public corporations. Prior to joining the national accounting firm, Joël spent four years with the Canada Revenue Agency as a Corporate Tax Auditor.

Joël is a member of CPA Ontario, the Canadian Tax Foundation, The Society of Trust and Estate Practitioners (STEP) and has also obtained his Certified Financial Planner (CFP) designation. He has chaired and spoken at annual tax seminars for CMA Ontario and Federated Press and spoken for STEP in both Canada and the United States. Joël also spent seven years as a tutor for the CICA In-Depth Tax Course.

Pricing Details

$150 + GST/HST CAFA members

$300 + GST/HST 2 or more CAFA Members watching together


$300 + GST/HST non-CAFA 

$400 + GST/HST 2 or more non-CAFA Members watching together


Eligible for 7.5 CAFA® CPD credits

Eligible for 4.5 FP Canada™ credits

Substantive hours with CPA and Law Societies. Request a Certificate of Attendance afterwards.

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