Evidence of meeting #24 for Agriculture and Agri-Food in the 40th Parliament, 3rd Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was farm.
A recording is available from Parliament.
4:30 p.m.
Liberal
Frank Valeriote Liberal Guelph, ON
All right. Thank you.
Thanks, everyone, for appearing today. We appreciate the time you've given to us. It's important. It's valuable for us to understand better the nature of the industry and its status.
I have to admit that what I've heard from you today is considerably different from what we heard going across Canada--not from all, but certainly from a majority of the witnesses who have been before us.
I'm just wondering, Cherilyn, how many acres do you and David farm?
4:30 p.m.
Liberal
Frank Valeriote Liberal Guelph, ON
I heard you mention David's family. Your parents had this farm before you?
4:30 p.m.
Liberal
Frank Valeriote Liberal Guelph, ON
And you have a brother, you said, who you're hoping will come back.
4:30 p.m.
As an Individual
Yes, I have a younger brother who actively farms with us as well.
4:35 p.m.
Liberal
4:35 p.m.
As an Individual
Yes. My family also had their Century Farm Family Award, and my brother is farming with my parents, about 25 miles south of us.
4:35 p.m.
Liberal
Frank Valeriote Liberal Guelph, ON
David, your family owns the farm or were part owners. Given the size of the operation and the time they've had, would you say they've accumulated a reasonable amount of money on which to retire, and they're not relying on you to have to buy them out?
4:35 p.m.
Liberal
Frank Valeriote Liberal Guelph, ON
Are you finding the tax laws and the strategies that exist now adequate to ease the transition?
4:35 p.m.
As an Individual
I wouldn't say they're adequate. Definitely the capital gains exemption going to $750,000 was a help. I think there could be a little more done to help ease that.