Quote:
Originally Posted by raab
You realize a lot of farmers lease land, and dont necessarily have all of it up front. I think leasing pasture is the most economical way to go if youre just starting out. Not everyone can go drop 500k(and thats cheap) on a 1/4 section of land, plus buy the livestock, plus all the equipment needed to care and move them. Lease the land to start or run your cattle with someone elses and build from there.
|
I know this that’s why I said I’m not sure. I’m sure there is someone that lives in a condo downtown Edmonton that owns a herd of cattle. I don’t know how that relates to farm taxes though or if that qualifies him/her to claim farm status? It is my understanding that you can’t claim farm status on a acreage and need 160 acres min. Could be rented or owned.