Financial Benefits of Farms vs. Hobby Farms!
There are a growing number of hobby farms in the urban fringe. This is due to the lower tax on farmland. In some jurisdictions, the level at which you qualify for preferential taxation rates is set deliberately low. This is being done to encourage the use of land for agricultural purposes.
Tax Laws
Many people in B.C. don’t properly understand the Canadian Revenue Agency (CRA) tax laws. They believe that anyone who has livestock and/or grows