AgriStability — Ontario
ON, Canada
Insurance to protect farming operations
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grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|openingDateJanuary 11, 2022
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Grant and Funding
grant_single|eligibleIndustries
- Agriculture, forestry, fishing and hunting
grant_single|grantors
- Government of Ontario
- Agricorp
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grant_card_status|open
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Get financial support to help manage large income declines caused by production loss, increased costs or market conditions.
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This grant is available to farming businesses located in specific geographical areas determined by the funding body. Eligibility is specifically targeted to producers within a certain region to ensure alignment with local agricultural policies.
- Farms located within the province of Ontario, Canada.
grant_single|admissibleProjectsExample
$900,000
Halifax
Mitigating increased feed costs for dairy farm
$1,100,000
St. John's
Rehabilitating fisheries affected by market downturn in St John's
$1,200,000
Ottawa
Enhancing productivity of a fruit orchard with new technology
$1,250,000
Calgary
Upgrading crop production facilities due to weather-induced damages
$1,375,000
Toronto
Expanding poultry farming operations to cover increased utility costs
$1,500,000
Vancouver
Improving market competitiveness for organic vegetable farm
grant_single_labels|admissibility
To participate in the AgriStability program, applicants must meet the following eligibility criteria:
- Farm in Ontario.
- Complete a production cycle and at least six consecutive months of farming activity in the program year.
- Report farming income or loss to the Canada Revenue Agency unless exempt under the federal Indian Act.
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Farmers in Ontario who complete at least six consecutive months of farming activity in the program year and report their farming income or loss to the Canada Revenue Agency are eligible to apply.
grant_eligibility_criteria|eligible_expenses
The AgriStability program offers financial protection and support to farmers experiencing significant income losses due to various factors. It helps ensure the continuity and financial stability of farming operations by covering specific financial declines in a farmer's production margin.
- Protection against income losses due to production loss.
- Compensation for increased production costs affecting net income.
- Financial support during adverse market conditions impacting farm revenue.
- Provision of interim payments to alleviate immediate cash flow issues for farmers.
- Adjustments to coverage and payments based on significant changes in farm operations, such as expansion or downsizing.
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Eligible expenses for AgriStability are those directly related to the production of a commodity.
- Operating expenses incurred in the production process.
- Costs associated with maintaining production capacity.
grant_single_labels|register
Here are the steps to submit an application for AgriStability:
- Step 1: Determine Eligibility
- Ensure you farm in Ontario and have completed a production cycle of at least six consecutive months of farming activity in the program year.
- Verify that you report farming income or loss to the Canada Revenue Agency.
- Step 2: Prepare Your Financial Information
- Gather your allowable income and expense records for all the commodities you produce.
- Calculate your reference margin using your historical production margins.
- If new to farming or changes in operations occurred, adjust the margins accordingly.
- Step 3: Complete the Application Forms
- Fill out the New Participant Form if you are enrolling for the first time.
- Prepare interim payment application if applicable and submit it.
- Step 4: Pay Applicable Fees
- Calculate your fee based on your fee reference margin and make the payment before the deadlines to avoid late fees.
- Step 5: Submit Required Documents
- Submit the T1163 form (individuals) by June 15, or Statement A (corporations, trusts, and special individuals) by June 30.
- Submit Year-end Report and Claim form by June 30.
- Step 6: Finalize Application
- Make sure to submit your farm income report to the Canada Revenue Agency by the final deadline.
- Step 7: Await Confirmation
- Await confirmation from Agricorp regarding the status of your application submission.
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Here are additional relevant details for this grant:
- The compensation rate for AgriStability has increased, providing more support for the same fee.
- Interim payments are available to provide cash flow for producers who have experienced significant income declines.
- Program funding is shared between the federal and provincial governments on a 60:40 basis.
- Agricorp administers the AgriStability program in Ontario.
- An AgriStability estimator tool is available to help farmers understand potential benefits.
- Final deadlines and detailed payment deduction rules are strictly enforced, with possible deductions for late submissions.
- Exceptions to deadlines may be considered under exceptional circumstances.
grant_single_labels|contact
1-888-247-4999
Apply to this program
Enhanced Risk Management for Ontario Farmers
AgriStability offers comprehensive financial protection for Ontario’s agricultural producers against major income losses due to market conditions, production challenges, or increased costs. The program ensures that farmers are supported in maintaining a steady income flow even during difficult fiscal periods.
Detailed Overview of AgriStability and Its Benefits
The AgriStability program is a crucial component of the risk management strategy for Ontario farmers, providing a safeguard against significant income declines due to unforeseeable circumstances. With the recent increase in the compensation rate to 80%, effective from the 2023 program year, the initiative now offers even greater financial support for agricultural producers who face challenges beyond their control, such as production losses, rising expenses, or adverse market conditions.
Designed under the Sustainable Canadian Agricultural Partnership, AgriStability is collaboratively funded by the federal and provincial governments, with Ontario sharing the program's costs in a 60:40 ratio. This ensures a broad-based support system, encouraging participants to include AgriStability as a cornerstone of their broader farm risk management plans. Managed by Agricorp in Ontario, the program offers not just a safety net but a strategic approach to securing farm income stability.
Eligibility to join AgriStability requires participants to engage in farming within Ontario, complete a minimum of six months of farming activities, and report farm income to the Canada Revenue Agency. Newcomers to farming or those revamping their operations can also benefit from tailored eligibility assessments, ensuring their unique circumstances are considered when calculating potential benefits.
At the core of AgriStability's functionality is its margin-based calculation system. Producers' historical average net income or reference margin serves as a benchmark. A payment is triggered if a producer's current net farming income, or production margin, falls below 70% of this reference margin. Once a payment is triggered, 80% of the income shortfall is covered by AgriStability, providing a critical financial lifeline during tough economic periods.
A unique feature of the program is its provision for interim payments, offering immediate cash flow solutions by advancing up to 50% of the estimated final payment. This mechanism is particularly valuable for farmers experiencing an acute drop in income and in need of urgent financial support to sustain their operations mid-year.
To ensure inclusivity and adaptability, AgriStability incorporates an estimator tool developed by Agriculture and Agri-Food Canada (AAFC). This online tool assists farmers in projecting their benefits based on different scenario inputs, empowering them to make informed decisions regarding their farm management strategies. AgriStability keeps pace with evolving agricultural methodologies and market conditions, adjusting its calculations to reflect any notable operational changes that participants make.
Rigid timelines exist for participants, as missing deadlines can result in penalties or deductions from the expected AgriStability payment. Farmers are encouraged to pay close attention to annual deadlines and requirements such as fee payments and submission of necessary documentation, to maximize their probability of receiving full benefits.
Overall, AgriStability represents a vital stabilizing force in the agricultural sector, easing the financial strain on farmers who may face uncertain and volatile market circumstances. By ensuring long-term viability and resilience, this program considerably contributes to the sustainability and growth of Ontario's farming communities.
