Cat­tle farm­ers to dis­cuss prices, tax­a­tion au­dits

The Peterborough Examiner - - OPINION - JES­SICA NYZNIK EX­AM­INER STAFF WRITER

Neigh­bour­ing beef or­ga­ni­za­tions have part­nered to host in­for­ma­tion ses­sions on is­sues af­fect­ing cat­tle­men.

Peter­bor­ough Coun­try Cat­tle­men, Northum­ber­land Cat­tle­men and Vic­to­ria Beef Farm­ers are hold­ing events on Nov. 23 and 30.

Dur­ing the meet­ings, ex­perts will be dis­cussing re­cent vari­a­tions in cat­tle prices and tax­a­tion au­dits.

Grant Ben­nett is a di­rec­tor of Peter­bor­ough Coun­try Cat­tle­men, which has about 550 mem­bers.

He said there’ve been large fluc­tu­a­tions in cat­tle prices over the last two years, leav­ing farm­ers won­der­ing what’s caus­ing mar­ket in­sta­bil­ity.

Steve Duff, chief econ­o­mist for the Min­istry of Agri­cul­ture, Food and Ru­ral Af­fairs, will ex­plain how cat­tle prices are set and what the fac­tors are.

“He’s try­ing to take some of the mys­tery out of why prices change and what we can do about it,” Ben­nett said.

Duff was raised on a cat­tle farm in Northum­ber­land County and still op­er­ates a beef and cash crop farm there today.

The pro­posed in­come tax changes and in­crease in fund­ing for Canada Rev­enue Agency (CRA) au­dits are also of con­cern to farm­ers, Ben­nett said.

Thomas Fer­gu­son and Aaron Fecht, ad­vi­sor with Farm Busi­ness Con­sul­tants, will dis­cuss the trig­gers on tax re­turns that will garner the CRA’s at­ten­tion.

Don’t Bet the Farm: Tips for Avoid­ing and Sur­viv­ing a CRA Au­dit is meant help farm­ers nav­i­gate tax re­turns.

“You can quite in­no­cently put some­thing down on your tax re­turn that’s true, but it may not be the best cat­e­gory to put it in,” Ben­nett said.

With slim mar­gins in the beef busi­ness, Ben­nett said it’s pricy for farm­ers to hire pro­fes­sional help to get through an au­dit.

The meet­ing on Nov. 23 takes place in Omemee at Corona­tion Hall on King St.

On Nov. 30, it’s in Nor­wood at the Aspho­del-Nor­wood Com­mu­nity Cen­tre in the Mil­len­nium Room.

Meet­ings start at 5:30 p.m. with a light din­ner, fol­lowed by the guest speak­ers at 6 p.m. Both top­ics will be cov­ered at each ses­sion.

NOTE: Any­one in­ter­ested in at­tend­ing should RSVP to Dave Denure at dav­eyd@xplor­net.com or 705-653-3660, Ja­son McIn­tosh at fresh­frozen­beef@nex­i­com.net or 705-743-5259, or Jerry Bryans at jerry.bryans@roy­allepage.ca or 705-8799986.

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