Agriculture

Farm Record Keeping
Strategic Record-Keeping Drives Farm Profitability
If you’re a producer in Saskatchewan, you’re already aware of the significant capital requirements to keep your operation running smoothly. Things like land, equipment, crop inputs, fuel and operating loans add up quickly. Two farms can be nearly identical operationally, yet still have vastly different financial outcomes. They may run similar acres, grow similar crops...
Farm Benchmarking - Virtus Group LLP
Farm Benchmarking: Using Data Insights to Strengthen Operational Performance
Producers across Saskatchewan and the prairies have been operating in an environment of progressively tighter margins, rising input costs and increased capital requirements. While most producers know tend to “know their numbers”, many still struggle to tell whether their costs are in line with competitors or quietly holding them back. In that context, understanding how...
Cash vs. Accrual Accounting: What Farmers Need to Know
When it comes to managing your farm’s finances, choosing the right accounting method can make a big difference. Although taxes are filed on a cash basis for farms, it is important to have accrual financials or at a minimum, understand your accrual position.  Whether you’re producing crops, raising livestock, or both, understanding the benefits and...
AgriInvest and AgriStability Changes in 2025
Key Changes to AgriInvest & AgriStability Programs in 2025: What Producers Need to Know
Important changes are coming for both AgriInvest and AgriStability for producers in Saskatchewan. In late 2024, Agriculture & Agri-Food Canada announced changes to the AgriInvest program for 2025. Similarly, the Saskatchewan Crop Insurance Corporation (SCIC) has also made changes to the AgriStability filing deadline in Saskatchewan beginning with the 2024 program year. Understanding these updates...
Farmer in John Deere combine harvesting field at dusk
AgriStability Program Overview: Is it Right for Your Farm?
Canadian farmers face unpredictability in all operational aspects, such as volatile markets and weather extremes. Navigating this unpredictability requires strong management and robust support systems. AgriStability is one of those key support systems that can provide a level of stability to help Canadian farmers navigate the challenges they face. The program was designed to help...
AgriInvest Program Overview - Wheat field image
AgriInvest Program Overview: Secure Your Farm’s Profitability
Running a profitable farm is complex. Managing costs and ensuring your farm stays on budget is no easy task. Especially as costs continue to go up for things like equipment, inputs and labour. That’s where the AgriInvest program steps in, offering a financial cushion and encouraging Canadian producers to save for challenging times. AgriInvest is...
What you need to know about transitioning the farm
Are you thinking of transitioning your farm from one owner or generation to the next? Ideally, you want to think ahead so you’ll feel prepared and proactive, rather than feel like you’re just responding to challenges as they arise. Succession planning is a helpful tool to help you plan for the successful transfer of ownership,...
Virtus-Group-farming-and-agriculture-accounting-and-advisory
4 Advantages to Incorporating Your Farm
Are you a grain or livestock producer? Are you thinking of incorporating your farming operation? Here are five significant advantages to consider as you make a decision. 1. Tax Deferral Opportunity In Canada, the income tax system is designed so that whether income is earned personally or inside a company, the total taxes paid should...
Replacement property: How to defer capital gains on farmland
(authored by RSM CANADA) Leanne Alexander outlines the capital gains tax implications of replacement farmland and offers expert guidance for farmers.