Agriculture Resources in the
Fraser Valley
Considerations and Benefits for Farmers
Agrilnvest Account
An agrilnvest account is a self-managed producer-government savings account. This account is intended to help assist in choosing investments that reduces risk and boosts market revenue while managing modest income decreases and providing financial support for business investments. These accounts can be set up at all major financial institutions and farmers can make yearly contributions to this account.
The main benefit is that the government will match your deposits up to a certain amount ($500 max) in this account every year.
Eligibility
In order to qualify for an Agrilnvest account one must own a farm in Canada and make a living off the main production of agricultural goods.
Intake period is currently open and to apply visit the link below.
Information is from:
Special Insurance Rates
Even though a farm truck is considered a commercial vehicle the licensing and insurance costs significantly less as farm trucks spend less time on the road.
Farmers Insurance helps shield farmers from potential legal obligations and monetary damages. Costs for property damage and medical expenditures are included. Farm buildings and structures, agricultural equipment, tools, and vehicles, as well as the loss of animals, crops, dairy, and eggs are covered in the event of hazards such as floods, fire, disease, pollution, windstorms, etc. The same goes for equipment failure caused by power outages, electrical arcing, etc.
Western Canada’s shifting disasters, which raise farmers’ chance of loss, make farm insurance highly recommended for farming businesses.
Farm liability insurance shields farmers and their agricultural businesses from legal exposure by covering claims of bodily harm, property damage, false advertising, libel, and slander.
Your BC farm’s insurance needs will rely on a variety of variables. For instance, the type, size, and location of the farm you manage might all affect the insurance coverage you require.
Agricultural Council
The BC Agriculture Council (BCAC)
Farm and ranch families in British Columbia are represented by BCAC. We ensure the competitiveness and sustainable expansion of B.C. agriculture through collaborating with our members, partner industry groups, and private sector agri-food firms.
What They Do
Through continuing policy conversations and events, BCAC has created strong connections with government representatives, elected officials, business executives, and other decision-makers since its founding in 1997.
Staff and members of the BCAC are prominent players at the local, provincial, and federal levels, where they are promoting issues that concern farmers and committed to the development of B.C. agriculture.
How to apply
To apply for a Farmer ID Card you will need to call 1-866-522-3447 to either request a hard copy or apply by phone. A copy of the current year’s property assessment or tax notice is needed for proof of farm status.
Fees
If you are not a part of one of the 28 member associations of BCAC the fee for the 1 year BC Farmer ID is $200 and $570 for the 3 year however, if you are a member it is $100 for 1 year or $285 for 3 years.
Benefits
There are a number of benefits with having a BC Farmer ID such as saving 5% on farm insurance and preferred rates on home insurance, a 10% discount on purchases at Mark’s Work Wearhouse, up to $7750 in discounts at chrysler Fleet Discount, 15% off merchandise at Chilliwack Work n’ Play, save a Park’N Fly, Private Health Service Plan, Health & Dental Plan, HUB Life Insurance, Hotel Discounts, etc.
What is a BC Farmer ID
The Farmer ID Card is made expressly to provide farmers and ranchers with special advantages and conveniences. As evidence of qualified agricultural status, the provincial government only accepts this card. Numerous businesses also offer PST exemptions for certain farm purchases.
Links:
https://www.icbc.com/vehicle-registration/specialty-vehicles/Documents/farm-vehicle.pdf
https://www.alignedinsurance.com/farm-insurance-in-bc/
Ritchie Bros Auctions
Ritchie Bros. is a business that manages and disposes of industrial assets. It sells trucks and heavy machinery through transactional channels including live and online auctions. They buy and sell new and used agriculture equipment.
How does it work
Make a free account first then sign up to bid in the auction where your item is being sold online. Participate in the auction online. You can also attend these auctions at the Chilliwack and Langley lots.
Farm Equipment
Ritchie Bros sells all kinds of farm equipment including combines, air drills, sprayers, grain trailers, 4WD tractors, and grain trucks from the best well known and trusted brands such as John Deere, Kubota, New Holland, etc.
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