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Farms.com’s Top 10 Ontario Stories in July 2024


3) OFA advocates for fairer capital gains rules for farmers

Farmers

The Ontario Federation of Agriculture (OFA) has raised concerns with Deputy Prime Minister and Minister of Finance, Chrystia Freeland, regarding proposed changes to the capital gains inclusion rate and eligibility criteria for the Canadian Entrepreneurs’ Incentive.

OFA members fear that current wording may exclude the next generation of farmers from accessing this incentive, as they often inherit or purchase farm businesses at below market value to sustain family farming traditions.

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