Merle Good is a consultant with GRS Consulting Inc. His career as a Provincial Tax Specialist with Alberta Agriculture and Forestry has given him a unique position to discuss farm succession planning and Alberta's agricultural land trends.
The challenge for farm transfer to the next generation is the non-farming child. Land fracturing when farm succession happens is too often the result. Merle Good reviews the capital gains tax provisions for agricultural land transfer. And he predicts wealth taxes are coming. Rather than splitting up the farm, Merle Good uses the USA example of family land trusts to discuss the option of land partnerships. He discusses some examples to show how this prevents land fragmentation for the farming operation.
Merle Good's presentation was part of the 2016 AIA Conference, April 19-21 in Banff, Alberta.
