On March 25, 2021, Federal, Provincial and Territorial Ministers agreed to remove the reference margin limit for AgriStability participants retroactive to the 2020 program year, a change that could increase the overall amount the program pays out to farmers by approximately $95 million nationally.
This change is an important step towards making the program easier to understand, more bankable, more accessible, and more fair for some sectors, who might have been left out of the program under the previous rules.
This adds to recent changes made to the program including an amendment to exclude certain payments received from private insurance from a producer's program year margin calculation.
If you are a producer in Manitoba, New Brunswick or Newfoundland and Labrador, a pilot project is available that allows you to have your 2020 and 2021 reference margins calculated using the cash income and expenses you report for income tax purposes with no accrual adjustments.
You can also use the AgriStability Benefits Estimator to see how the program works.
The federal government delivers AgriStability in Manitoba, New Brunswick, Nova Scotia, Newfoundland and Labrador and Yukon.
If you live in British Columbia, Saskatchewan, Alberta, Ontario, Quebec, or Prince Edward Island, note that AgriStability is delivered by your provincial government. Contact your provincial administration to learn about the application process and deadlines.
Regardless of where you live, you must enrol by June 30, 2021.
Visit AgriStability to learn more about the program and its recent changes or contact your Administrator.
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