AgriStability — Saskatchewan
SK, Canada
Insurance to protect farming operations
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|noCondition
grant_single|deadlines
- grant_single|closingDateSeptember 30, 2024
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- Agriculture, forestry, fishing and hunting
grant_single|grantors
- Government of Saskatchewan
- Saskatchewan Crop Insurance Corporation (SCIC)
grant_single|status
grant_card_status|open
grant_single_labels|preview
Get financial support to help manage large income declines caused by production loss, increased costs or market conditions.
grant_single_labels|projects
This grant supports agricultural operations facing large margin declines due to production loss, increased costs, or market conditions, including the need for adjustments caused by structural changes in the farming operation.
- Production loss mitigation
- Increased cost management
- Market condition adaptation
- Structural change adjustments
grant_single|admissibleProjectsExample
$45,000
Calgary
Restoration of vegetable farm after severe flooding damages
$50,000
Saskatoon
Adaptation to market conditions for organic grain farm
$40,000
Montreal
Mitigation of production losses in dairy farm due to increased feed costs
$35,000
Toronto
Mitigation strategies for a poultry farm facing increased operational costs
$45,000
Ottawa
Cost management for wheat farm to address rising input costs
$50,000
Vancouver
Enhancing resilience of an orchard facing climatic challenges
grant_single_labels|admissibility
To be eligible to participate in the AgriStability Program, you must meet the following criteria:
- derive income from the primary production of agricultural commodities;
- carried on the business of farming in Canada and reported farming income (or loss) for income tax purposes;
- completed a minimum of six consecutive months of farming activity in the program year;
- completed a production cycle;
- submitted the required information by the deadlines.
grant_eligibility_criteria|who_can_apply
To be eligible to participate in the AgriStability Program, companies must meet several criteria focused on the primary production of agricultural commodities. Here is a summarized list of the eligible types of companies.
- Companies that derive income from the primary production of agricultural commodities.
- Companies that carry on the business of farming in Canada and report farming income (or loss) for income tax purposes.
- Companies that complete a minimum of six consecutive months of farming activity in the program year.
- Companies that complete a production cycle.
- Companies that submit the required information by the deadlines.
grant_eligibility_criteria|eligible_expenses
Yes, there are eligible expenses for this grant.
- Agricultural commodity purchases
- AgriInsurance premiums
- Commissions and levies (related to commodity sales)
- Commodity future losses/transaction fees
- Containers and twine
- Custom feeding*
- Electricity
- Fertilizer and lime
- Freight and shipping (to and from market)
- Heating fuel
- Machinery (gasoline, diesel fuel, oil)
- Minerals and Salts
- Other insurance/premiums for allowable income and expense items
- Pesticides
- Point of sale adjustments
- Prepared feed
- Salaries (arms length as defined by CRA)
- Storage/drying
- Veterinary fees, medicine, breeding fees
grant_eligibility_criteria|zone
The eligible geographic zone for this grant is Canada. The farming operation must be carried on within Canada and the income reported for tax purposes must also be within Canada.
- Canada
grant_single_labels|register
- Step 1:
- Enroll in AgriStability by calling the SCIC AgriStability Call Centre and requesting a new participant package. The request must be made by the Enrolment/Fee Deadline of the program year in which you wish to participate.
- Step 2:
- Complete a minimum of six consecutive months of farming activity in the program year and a production cycle.
- Step 3:
- Derive income from the primary production of agricultural commodities and report farming income (or loss) for income tax purposes.
- Step 4:
- Submit financial and supplemental information to SCIC. Individuals (sole proprietors) must submit income and expense information on the T1163 and T1164 forms to the Canada Revenue Agency. Corporations, co-operatives, and other entities should submit all relevant information directly to SCIC using AgConnect or the Corporations, Co-operatives, and Other Entities form.
- Step 5:
- Submit any additional supplemental information directly to SCIC through AgConnect or the appropriate forms if needed for adjustments to the program margin.
- Step 6:
- Ensure that all required information and program forms are submitted by the deadlines. Starting in 2025, the deadline to submit forms without penalty is June 30. For the 2024 year, forms should be submitted by September 30, 2024.
grant_single_labels|otherInfo
AgriStability provides personalized coverage based on individual farm operations' historical information, aiming to support those facing significant margin declines. Structural changes, combining operations, and participation in other related programs can impact benefit calculations and eligibility.
- Participants need to report income from agricultural commodities and must farm in Canada for at least six consecutive months in the program year.
- Deadline for submitting forms without penalty will change to June 30, 2025, starting from the 2024 program year.
- Participating entities must submit income and expense information directly to SCIC, either through AgConnect or specific forms.
- AgriStability adjusts program margins using supplemental information to provide an accurate financial view of the farming operation.
- Allowable income includes agricultural commodity sales, crop insurance proceeds, and CFIA payments, among others.
- Allowable expenses cover agricultural purchases, insurance premiums, and machinery fuel costs, among others.
- Structural changes in farm operations are considered for accurate benefit calculation.
- Operations are combined if they are not legally, financially, or operationally independent.
- Non-participation in Crop Insurance can lead to benefit reductions under specific circumstances.
- Additional information must be provided within the required time frame upon SCIC's request.
- Amendments to benefit calculations can be submitted within 18 months from the date of the original Calculation of Benefits.
- Appeals must be submitted within 90 days of the decision notification and can be reviewed by an independent Provincial Appeal Panel.
grant_single_labels|contact
agristability@scic.ca
1.866.270.8450
Apply to this program
AgriStability Program Overview
The AgriStability program in Saskatchewan provides financial support to agricultural producers experiencing significant margin declines due to production loss, increased costs, or adverse market conditions. With upcoming changes in deadlines and an emphasis on personalized coverage based on historical income and expense data, AgriStability offers a cost-effective solution to manage farming risks.
Understanding the AgriStability Program
The AgriStability program is a crucial component of Business Risk Management (BRM) for agricultural producers in Saskatchewan. Designed to offer financial support to farmers facing significant drops in their profit margins, AgriStability is an essential tool for mitigating the uncertainties inherent in farming, such as unpredictable weather, fluctuating market prices, and rising costs of production. Below, we dive into the comprehensive details of the AgriStability program, its eligibility criteria, benefits, and recent updates.
Program Eligibility
To participate in the AgriStability program, producers must meet specific eligibility criteria, which are outlined as follows:
- Derive income from the primary production of agricultural commodities.
- Carry on the business of farming in Canada and report farming income (or loss) for income tax purposes.
- Complete a minimum of six consecutive months of farming activity in the program year.
- Complete a full production cycle.
- Submit the required information by established deadlines.
Application Process
Enrolling in AgriStability is straightforward. Producers can call the SCIC AgriStability Call Centre to request a new participant package. The enrolment must be completed by the Enrolment/Fee Deadline of the program year in question. It is vital to provide accurate and up-to-date financial and supplementary information to ensure proper calculation of benefits.
Required Information
- Income and expense information via T1163 and T1164 forms for sole proprietors or equivalent corporate forms for corporations and co-operatives.
- Supplemental information, including changes in inventory, accounts payable, accounts receivable, purchased inputs, and deferrals.
Allowable Income and Expenses
The calculation of benefits under the AgriStability program hinges on allowable income and expenses directly connected to the production and sale of agricultural commodities:
Allowable Income
- Agricultural commodity sales
- Crop Insurance proceeds
- Commodity future gains
- Custom feeding income
- Insurance proceeds for allowable income and expense items
Allowable Expenses
- Agricultural commodity purchases
- AgriInsurance premiums
- Electricity, heating fuel, and machinery-related expenses
- Salaries and custom feeding expenses
- Fertilizer, lime, and pesticides
Structural Changes and Combining Operations
Farming operations can experience changes in size and scale, such as expanding or reducing acres, altering commodity production, or modifying herd sizes. AgriStability takes these structural changes into account to ensure the reference margin accurately reflects the current state of the farming operation. If structural changes amount to at least $5,000 or a 10% difference in margin, adjustments will be made accordingly.
Additionally, SCIC encourages combining operations where multiple entities function as a single farm unit. Combining ensures that benefits are directed to those experiencing genuine margin declines due to uncontrolled factors. Criteria for combining include lack of legal, financial, or operational independence, or transactions between entities that deviate from fair market value.
Submission Deadlines and Updates
Starting in the 2024 program year, the deadline to submit AgriStability program forms without penalty will shift from September 30 to June 30. This change aims to better align with the tax filing timeline, facilitating a smoother submission process and quicker benefit payouts. For the 2023 program year, the forms must be submitted by the current September 30, 2024, deadline.
Amendments and Appeals
If discrepancies or missing information are found in the Calculation of Benefits, producers can submit amendments to correct the records. Amendments must be made using the Additional Information Amendment and Amendment Request forms within 18 months from the original Calculation of Benefits date.
For unresolved concerns regarding the application of program rules, producers can request a review through the appeal process. If necessary, the appeal can be escalated to the Provincial Appeal Panel, an independent advisory committee that reviews disputes and offers recommendations. Appeals should be submitted within 90 days of the notification of the decision being contested.
Conclusion
The AgriStability program is an invaluable resource for Saskatchewan's agricultural producers, helping to stabilize farm incomes amidst the inherent risks of farming. By providing financial support during times of significant margin declines, the program ensures sustainable agricultural operations. For more information or assistance, producers can contact the SCIC AgriStability Call Centre, visit the official website, or consult the FAQ section.
If you have additional questions or require clarification, do not hesitate to reach out to SCIC through their toll-free numbers or email addresses provided. Taking proactive steps to enroll in and maintain accurate records for the AgriStability program can significantly mitigate financial risks and ensure the long-term viability of farming operations.
