Farms.com Home   News

Now Is Not The Time To Scrap Farm Fuel Tax Break: Farmers

 
Anxious farmers got no reassurance that subsidies they receive — including tax breaks for farm fuel purchases — will be continued after the provincial budget comes down next week. 
 
“We’re forced to consider everything in this budget, and that’s one of the things that’s been considered,” Agriculture Minister Lyle Stewart told delegates Wednesday at the annual Saskatchewan Association of Rural Municipalities’ (SARM) convention in Saskatoon.
 
“As for tax change and tax cuts, you’ll have to wait ’til March 22.”
 
Stewart was responding to a question posed by a delegate from the RM of Weyburn, who said now is not a good time for the government to entertain the idea of reducing tax breaks for farmers.
 
“Coupled with rising commodity prices and this impending carbon tax, we could see a significant change to what we as producers and farmers and ranchers are paying for fuel,” the man said during a 90-minute “bear pit” session Wednesday morning as cabinet ministers fielded an array of questions from SARM delegates.
 
Source : Leaderpost

Trending Video

Did Bears Win Thanksgiving, Will Bulls Get Christmas?

Video: Did Bears Win Thanksgiving, Will Bulls Get Christmas?


Did the bears win Thanksgiving (although this week had green on the screen), and will the bulls get Christmas? Bears won thanksgiving thanks to a USDA Nov crop report dud that stalled the bullish grain momentum for a brief period. But a bullish lower yield surprise in the Dec crop report could reignite the rally.
2026 U.S. winter wheat planting is nearly complete at 97% while crop conditions improved by 3 points to 48% good-to-excellent. US corn & soybean harvest is complete.
High corn demand, which is off the chart, and more Chinese soybean demand could support a Christmas rally.
Nasdaq had it’s worst November since 2011.
A U.S. Fed rate cut in December will help fund flow and sentiment.
Bitcoin held a long-term support at 80,000 and that's positive for fund flow and sentiment. It should help stock prices and Ag as we go into December.
Fertilizer prices continue to climb as we look ahead to 2026. Farmers may rely more on the nutrients that they already have in their soils.
South American Weather remains critical as the soybean reproductive stage starts from late Nov to late Feb depending on planting date.
Will a Russia-Ukraine peace deal happen by year-end?
CFTC data as of showed more managed money fund sell-off as of October 14th.