Agriculture and Agri-Food Canada – AgriInvest Program (AAFC) (2022)

Description:

AgriInvest is a self-managed producer-government savings account designed to help farmers manage small income declines and make investments to manage risk and improve market income.
Farmers receive a matching contribution of up to $10,000 per year to help manage income declines or to make investments to mitigate on-farm risks. Their AgriInvest account grows as they make deposits, receive matching government contributions and earn interest.

Comments on Funding:

Funding is equal to 1.0% of the Participant’s Allowable Net Sales, up to a maximum of $10,000 (being 1.0 percent of $1 million in Allowable Net Sales).

Eligibility:

Applicants must:

  • Earn income from the primary production of agricultural commodities
  • Farm in Canada.
  • File an income tax return reporting farming income (loss) to the Canada Revenue Agency by the final filing deadline for the program year
  • File an AgriInvest form reporting sales and purchases of allowable commodities by the final deadline for the program year

Participants include:

  • individual producers;
  • partners in a partnership;
  • corporations;
  • co-operatives;
  • communal organizations;
  • landlords in a joint venture;
  • estates;
  • trusts
  • limited partnerships;
  • Status Indians and Band Farms farming on a reserve;
  • custom feedlot operators

Applications Steps:

Applicants must:

Documentation Needed:

Applicants must file:

  • request a PIN by completing an AgriInvest New Participant Identification Number Request Form, if a new applicant who wants to EFILE with the Canada Revenue Agency (CRA). The PIN is the applicant’s unique identifier for AgriInvest
  • complete their AgriInvest form and file it by the deadline.

Other Things to Note:

AgriInvest is one of the three federal-provincial-territorial (FPT) Business Risk Management (BRM) programs under the Canadian Agricultural Partnership. The other two are: AgriInsurance and AgriStability.

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *