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AgriInvest (Manitoba)

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Value

Varies
The federal government pays 60 per cent of the program cost, and the provincial government pays 40 per cent.

Description

AgriInvest (Manitoba) is a Business Risk Management Program under the Canadian Agricultural Partnership. It helps farmers by matching their contributions to a special program savings account. Farmers can use the funds in their AgriInvest accounts to:

  • cover small margin declines
  • reduce risk
  • invest in farm-related improvements

Eligible Applicants

  • All farmers, including those farming on reserves, are eligible if they report farming income for tax purposes and meet all other program requirements, including deadlines for sending information and paying program fees.
  • Most agricultural commodities are eligible except:
    • supply-managed commodities
    • aquaculture
    • forestry products
    • peat moss
    • game
    • cannabis
  • Farmers who process or resell items they do not produce are ineligible under the program.

Eligible Expenses

Contributions are based on the participant’s allowable net sales (ANS) in a given year. ANS is the difference between the sales and purchases of eligible commodities.

Revenue from sales and purchases of farm commodities are included in the calculation, as well as income from AgriInsurance or similar commodity-replacement programs.

Other income (ex: custom work, rental income, and program payments) are not included, nor are most expenses (ex: inputs, overhead expenses, machinery, rental expense, interest, depreciation, and labour).

  • Sales are calculated at the point of sale. Grain sales are recorded as of at the local delivery point, or when the commodity is no longer under the farmer’s control.
  • If there are no itemized invoices or receipts, adjustments are made to custom feeding and prepared feed to estimate the commodity value.

Deadline Date

Ongoing. For details, including forms and guidelines, go to: www.agr.gc.ca/agriinvest.

Industry:

Agriculture

Location:

Manitoba

Tags:

Farmer, Farming

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