Ritz Says Capital Gains Exemption Better Reflects Farm Values

Apr 24, 2015

This week’s federal budget is getting good reviews from the majority of Canada’s agriculture sector.

The increase to the Lifetime Capital Gains Exemption is getting the most attention from agriculture groups.

Federal Agriculture Minister Gerry Ritz says when they took over in 2006, it sat at $500,000 and they’ve made an effort to move it up.

"We've all seen the value of farms grow exponentially, so this is a reflection of that," he said. "We of course moved it up to $750,000; indexed it - it climbed to a little over $800,000. Now we're setting the benchmark at a million dollars to reflect that value that we see out there in farm country.

" Also earmarked in the budget was $12 million over two years, starting in 2016 for the AgriMarketing Program to promote Canadian agricultural and agri-food products around the world.

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Video: Dicamba Returns for Georgia Farmers: What the New EPA Ruling Means for Cotton Growers

After being unavailable in 2024 due to registration issues, dicamba products are returning for Georgia farmers this growing season — but under strict new conditions.

In this report from Tifton, Extension Weed Specialist Stanley Culpepper explains the updated EPA ruling, including new application limits, mandatory training requirements, and the need for a restricted use pesticide license. Among the key changes: a cap of two ½-pound applications per year and the required use of an approved volatility reduction agent with every application.

For Georgia cotton producers, the ruling is significant. According to Taylor Sills with the Georgia Cotton Commission, the vast majority of cotton planted in the state carries the dicamba-tolerant trait — meaning farmers had been paying for technology they couldn’t use.

While environmental groups have expressed concerns over spray drift, Georgia growers have reduced off-target pesticide movement by more than 91% over the past decade. Still, this two-year registration period will come with increased scrutiny, making stewardship and compliance more important than ever.