Grain Farmers of Ontario applauds the Government of Canada’s announcement to maintain the current tax treatment of cash purchase tickets for deliveries of grains.
The deferral mechanism is a valuable risk management tool for grain farmers who rely on it.
Chair of the GFO, Mark Brock, says any adjustments to the current Cash Basis tax filing method and instruments that support the tools to defer income would be to the detriment of the agriculture industry and the rural economies it supports.
Brock says it is in the interest of Canadians for farmers to have a stable foundation to manage risk, optimize business opportunities and invest in productivity to meet the growing demand for Canadian grains and oilseed products.
