My name is Steven Snider. I'm an organic grain farmer from Alberta. We have a family company, Little Red Hen Mill, and we've just completed our 23rd year of certified organic production. We've been involved in the grain industry for a number of years and have seen a lot of changes.
I'm in Kevin Sorensen's riding. You probably know him. My colleagues are probably thinking I'm going to talk about the Wheat Board or organic and genetically modified grains, but there's one thing in its economic policy that's always frustrated me as a young farmer that I want to address specifically. Every year I get my tax notice, and they would give me this exemption for an RRSP donation. It has always frustrated me that they want me to put money into a fund over here, and meanwhile I have to pay down my land. I have this capital cost of land. I always question the wisdom of not being able to take that exemption and use it to pay down my land as a tax shelter, to stabilize my farm more quickly. I don't know how it could be done. I'm not a tax lawyer. I don't have any ideas on how that could be regulated.
Instead of putting money into an investment bond, I want to put it into something that I view as my retirement. A farmer's land is his retirement. We all view it that way, especially as grain farmers. To accelerate that paydown without penalty of taxation would be a huge benefit.
You'd have to put a cap on it. We don't want everybody rushing into agriculture and trying to get tax exemptions. Any program is only as good as the rules you create around it.
It's just an idea I wanted to throw on the table for you to possibly consider.
Thank you.