AgriInvest - Quebec
At a glance
- From 250$ to 10,000$
- Open Date : July 06, 2022
- Agriculture, forestry, fishing and hunting
- Gouvernement du Québec
- La Financière agricole
Overview
Eligibility criteria
AgriInvest is an individual savings-based program where you can make annual deposits into an account and receive matching government contributions (up to $10,000) to help manage risks facing your farming operation.
- Most agricultural products are allowable under the AgriInvest program, except for:
- Products under supply-management
- Forestry products
- Aquacultural products
- Racehorses
- Peat moss
- Cannabis
- Wild animals in their natural environment
- Resale of products not from the farm
- Income from farming activities outside Canada
Who is eligible
AgriInvest program is available for individual agricultural producers. The program allows producers to make annual deposits into an account and receive matching government contributions to manage risks facing their operation.
- Agricultural producers
Who is not eligible
Most agricultural products are allowable under the AgriInvest program, except for:
- Products under supply-management
- Forestry products
- Aquacultural products
- Racehorses
- Peat moss
- Cannabis
- Wild animals in their natural environment
- Resale of products that do not stem from the farming operation
- Income derived from farming activities carried on outside of Canada
Eligible expenses
There are eligible expenses for this grant. AgriInvest allows for annual deposits into an account with matching government contributions to a maximum of $10,000, aimed at forming a reserve to manage operational risks.
- Annual deposits into the AgriInvest account
- Matching government contributions up to $10,000
Eligible projects & activities
AgriInvest is an individual program based on savings where you can make annual deposits and receive matching government contributions. Eligible activities include:
- Agricultural products (except those under supply-management)
- Products not derived from forestry, aquaculture, racehorses, peat moss, cannabis
- Wild animals in their natural environment
- Resale of farm operation products
- Income from farming activities within Canada
Additional information
There is additional information that applicants should know about the AgriInvest program:
- The AgriInvest program allows for annual deposits into an account with matching government contributions up to $10,000.
- Amounts deposited into the AgriInvest account become a reserve to manage risks.
- Not all agricultural products are eligible for the program, such as those under supply-management.
- The Farm Income Stabilization Insurance Program (ASRA) works in conjunction with AgriInvest, adjusting intervention based on production costs.
Contact information
Summary: AgriInvest Program Overview
The AgriInvest program is designed to support farmers by promoting savings through an individual account. Participants can make annual deposits and receive matching government contributions to a maximum of $10,000, helping them build a financial reserve to manage risks in their agricultural operations. ## Detailed Explanation: ### Understanding AgriInvest Program for Agricultural Sector The AgriInvest program, offered by La Financière agricole du Québec, serves as a crucial financial tool for farmers looking to safeguard their operations against various risks. By making annual deposits into a dedicated account, participants can benefit from matching government contributions, effectively amplifying their savings capacity.
Program Mechanism and Benefits
The core principle of AgriInvest revolves around encouraging farmers to save and build a financial cushion that can be utilized during challenging times. By depositing funds into the AgriInvest account, participants not only secure their own savings but also receive additional support from the government, up to a maximum of $10,000. This matching contribution enhances the financial resilience of farmers and enables them to better navigate the uncertainties inherent in the agricultural industry. #### Eligibility and Exclusions While the AgriInvest program is open to most agricultural products, certain categories are excluded from participation. Products under supply management, forestry products, aquacultural items, racehorses, peat moss, cannabis, wild animals in their natural habitat, and income generated from farming activities outside of Canada are not eligible for the AgriInvest initiative. #### Coordination with ASRA Program The Farm Income Stabilization Insurance Program (ASRA) works in conjunction with AgriInvest to provide comprehensive support to agricultural producers. ASRA's intervention is based on production costs but is adjusted to account for the contributions made through the AgriInvest program. This collaborative approach ensures that farmers receive integrated financial assistance tailored to their specific needs and circumstances. ### Conclusion In conclusion, the AgriInvest program stands as a valuable resource for farmers seeking to fortify their financial footing and mitigate risks in the ever-evolving agricultural landscape. By fostering a culture of savings and leveraging government support, participants can proactively manage uncertainties and secure the sustainability of their operations.
