Resolution

WHEREAS qualified farm properties are provided an exemption on capital gains up to $1,000,000

WHEREAS the taxable capital gains for farm properties often exceed the $1,000,000 limit because of appreciation in land and share values over time,

WHEREAS young farmers and new entrants today are having to compete for scarce land resources against well financed investors and other speculative interests;

WHEREAS it is in the interests of all Canadians that farmland is owned by the people farming it;

BE IT RESOLVED that APAS work with federal and provincial governments to develop financial incentive program that increases the capital gain exemption to $2,000,000 for farmers who sell land to young producers 40 years of age and under.