Cara Noble

I spend a lot of time with tax and a bit of time farming. Rather it was the other way around though. Tweets are my own.

[Cara Noble @themiddlenoble4]

My life has officially been summed up in a meme

[JR @jrlikeswhisky]

Some days....

[Aaron Hector, R.F.P., CFP, TEP @AaronHectorCFP]

A joint account issues tax slips with the SIN of the first/primary account holder on the tax slips.

Just because the slip has the primary account holder’s SIN, it doesn’t necessarily mean they should report all of the income on their tax return.

The slip will show beneficiary code = 2… that tells CRA it’s a joint account, so all the income may not be reported on the tax return of the person who’s SIN is on the slip.

Just because it’s a joint account, that doesn’t mean that the couple can each report 50% of the income on their respective tax returns.

Instead, Canadian tax rules state that the person who first earned the money to deposit into the investment account, should be the one who should report the investment income earned on those dollars.

So, joint accounts might be taxed all to one spouse, or all to the other, or 50/50, or 10/90, or 25/75.

There’s no one size fits all. It depends on the history of who saved the money in the first place.

[Cara Noble @themiddlenoble4]

Simply cannot fathom why UPS, who does not deliver to PO boxes, continues to accept parcels addressed to PO boxes.

The patience required to try and get it corrected...

[Agriculture Financial Services @AFSC_AB]

Reminder: September 30 is the deadline to submit 2024 #AgriStability Supplementary Forms without penalty. #ABag

[Cara Noble @themiddlenoble4]

cc:
@CanCattle
@GrainGrowers
@canolacouncil

#CdnTax #cdnag

[Cara Noble @themiddlenoble4]

Bare trust filing obligations won't be disappearing for family farms. Draft legislation is improved, but not enough consideration for family farms.
Consultation closes September 12, so get your feedback sent to [email protected]

[Cara Noble @themiddlenoble4]

Harvest is in full swing and this is not top of any farmer's mind right now. But with consultations closing September 12, let's get some feedback submitted. And as always, consult your advisors for your specific situation.

[Dylan Robinson @dylanrobinson27]

In case anyone is looking for a harrow tractor or a drill tractor for other smaller guys like myself. Retweets appreciated. https://t.co/XwibgvjOtx

[Adrienne Ivey @adrienneivey]

Nothing shows the Rural/Urban divide more than a conversation about Canada Post.

[Lucas Meyer 🎙️ @meyer_lucas]

Chrystia Freeland today:

#cdnpoli

[Cara Noble @themiddlenoble4]

The thing about farming and having a WFH office job, is my office workday ends up much longer than it should due to the numerous breaks required to stare out the window and swear at the weather. #harvest24

[What the Futures @wtfuturespod]

What should we call it? Drop your creative names in the comments, or vote on the 4 below.

We recently had the opportunity to collaborate with @blindmanbrewery and @RevolutionYEG. We brewed a wonderful Kolsch style beer which is getting packaged next week. What do we name this brew? RT appreciated. #plant24 #canadianag #WestCdnAg

[Cara Noble @themiddlenoble4]

An Aussie thread so take some details with a grain of salt. But the general takeaways on #successionplanning are pretty universal!

[Gillian Fennell @stationmum101]

Main event for today:

[Cara Noble @themiddlenoble4]

I have come to the conclusion that wedding planning is a cycle of
a) mass panic to get everything perfect, and
b) "who cares" procrastination

There are no in-betweens

[Cara Noble @themiddlenoble4]

And please, please: watch out for bare trusts. They're super common, and most now have to file T3 Trust Returns.

If the home quarter is in your name, and the farm buildings on the home quarter are on the farm corp's books, talk to your accountant ASAP. You likely have to file.

[Cara Noble @themiddlenoble4]

Some tax tips in the January issue of @PrairieFarming on page 22!

It even mentions yours truly. Read it here:

https://t.co/htQVxQrtGr

#cdntax #farmtax