Senate Votes In Favour Of Bill C-208

Jun 23, 2021

The Canadian Federation of Agriculture (CFA) says it's pleased that the Canadian Senate voted in favour of Bill C-208’s adoption Tuesday evening.

Brandon-Souris MP Larry Maguire's private member’s Bill addresses long-standing barriers that make it more costly to transfer a farm to a family member than to a third party. CFA expects the bill should receive rapid Royal assent.

CFA President Mary Robinson says with billions in family farm assets needing to change hands in the coming years, the passage of this Bill comes at a critical time for the sector.

“The average age of canadian farmers, now at over 55 years, continues to climb and farm debt is at an all-time high. If we want to ensure the next generation of family farms is in strong financial health to capitalize on the immense opportunities facing our sector and drive Canada’s economic recovery, we cannot burden them with undue tax liabilities from day one,” commented Robinson. “This is tremendously positive news for farm families, who will now will not have to face an additional tax bill, potentially in the hundreds of thousands of dollars. This reduced financial strain on the next generation will directly contribute to a more robust and vibrant Canadian Agriculture sector.”

More than 95% of Canadian farms are owned and operated by Canadian farm families.

CFA says Bill C-208 essentially ensures that intergenerational farm transfers receive the same capital gains treatment as those businesses selling to an unrelated party, rather than treating the difference as a dividend that is taxed at a higher rate and cannot access the lifetime capital gains exemption.

“We have never been seeking preferential treatment for family farms but have been seeking to ensure the Income Tax Act puts intergenerational farm transfers on a level playing field as those selling to a stranger," added Robinson. "On behalf of the farming families across Canada , we are appreciative that our long-standing recommendation to remove this barrier to smooth family farm transfers has reached a successful conclusion. We thank all the MP’s, Senators, and in particular MP Larry Maguire & Senator Diane Griffin, who supported and tirelessly advocated on behalf of Canadian farmers."

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Video: Evolution of Beef Cattle Farming

The Clear Conversations podcast took to the road for a special episode recorded in Nashville during CattleCon, bringing listeners straight into the heart of the cattle industry. Host Tracy Sellers welcomed rancher Steve Wooten of Beatty Canyon Ranch in Colorado for a wide-ranging discussion that blended family history and sustainability, particularly as it relates to the future of beef production.

Sustainability emerged as a central theme of the conversation, a word that Wooten acknowledges can mean very different things depending on who you ask. For him, sustainability starts with the soil. Healthy soil produces healthy grass, which supports efficient cattle capable of producing year after year with minimal external inputs. It’s an approach that equally considers vegetation, animal efficiency, and long-term profitability.

That philosophy aligned naturally with Wooten’s involvement in the U.S. Roundtable for Sustainable Beef, where he served as a representative for the Colorado Cattlemen’s Association. The roundtable brings together the entire beef supply chain—from producers to retailers—along with universities, NGOs, and allied industries. Its goal is not regulation, Wooten emphasized, but collaboration, shared learning, and continuous improvement.