AgriStability: Helping Farmers Manage Their Risks

AgriStability

The AgriStability program protects Canadian producers against extensive declines in farming income due to various causes. So, if you are a farmer incurring significant losses, look no further, as the Canadian Agricultural Partnership has put a program in place to help manage these losses.

Type of Funding Available

Funding from AgriStability is dependent on the margin of your losses. If your production margin in the current year falls below more than 30%, you are eligible to receive funding. A historical reference from your production in the past to showcase a decline is required. A quick way of estimating how much funding is available to you is by using the AgriStability Benefit Estimator provided by the Government of Canada.

Eligible Applicants

  • Individual producers
  • Producing partners involved as a partnership
  • Corporations
  • Co-operatives
  • Communal organizations
  • Landlords that are part of a joint venture
  • Estates
  • Trusts
  • Limited Partnerships
  • Status Indians as well as Band Farms on reserves

Eligibility Requirements

  • Must be a farm in Canada
  • Must have filed an income tax return reporting the farming income loss to the Canadian Revenue Agency for the program year
  • Filed the farming income loss for tax purposes for all reference years of your farming
  • Completed at least six consecutive months of farming activity as well as the production cycle
  • Enrolled in the program, paid your free, and filed the form by the provided deadlines

Eligible Activities

Most commodities related to farming income are eligible for AgriStability. Examples of farming income applicable for AgriStability include:

  • Grains and specialty crops
  • Forages
  • Edible horticulture such as fruits, vegetables, herbs, and more
  • Non-edible horticulture such as Christmas trees, shrubs, flowers, and more
  • All forms of livestock

Other more minor agricultural production activities may also qualify for AgriStability funding, provided that the activities do not make up the majority of your farm work. Examples include:

  • Creation of jam through different fruits
  • Processing beef for beef jerky
  • Candles made from beeswax
  • Flour made from grains

Project Timeline:

The deadline to apply for the 2021 Interim payment for AgriStability is March 31, 2022. The deadline to apply for the 2022 program and pay the fee without penalty is April 30, 2022. 

Contact EVAMAX today to get started on your application!

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