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Agri-Invest Account Agri-Invest helps producers manage small income declines. Each year, producers can make a deposit into an Agri-Invest account, and receive a matching contribution from federal and provincial governments. Producers have the flexibility to withdraw the funds at any time to cover small margin declines or for risk mitigation and other investments. Agri-Invest is part of the Growing Forward suite of federal-provincial-territorial Business Risk Management programs. Growing Forward is a commitment to Canada's agriculture sector that's focused on achieving results, reflects input from across the sector, and delivers programs that are simple, more effective and tailored to local needs. Agri-Invest Accounts @ Prairie Mountain Credit Union Ltd. For the 2009 program year, Agri-Invest deposits will be made at participating financial institutions. Your 2009 Agri-Invest Deposit Notice will include information on how to open an Agri- Invest account at a participating financial institution of your choice. The mailing of 2009 Agri-Invest Deposit Notices to producers will start in July 2010 and will include an Account Initiation Form. Complete and sign the Account Initiation Form and bring it to your local Prairie Mountain Credit Union Ltd. to open your new Agri-Invest account. Prairie Mountain Credit Union Ltd. will notify Agriculture and Agri-Food Canada (AAFC) that you've opened an account, and any existing Agri-Invest funds will be transferred to your new account. FREQUENTLY ASKED QUESTIONS What is Agri-Invest? Agri-Invest helps you manage small income declines, and provides support for investments to mitigate risks or improve market income. Your Agri-Invest account builds as you make annual deposits based on a percentage of your Allowable Net Sales and receive matching government contributions. You have the flexibility to withdraw funds at any time. Why should I participate in Agri-Invest? Agri-Invest is simple, responsive, predictable and bankable. You can easily predict the government contribution to your account each year, have the flexibility to use the money to cover small income declines or to make investments to mitigate risks or improve market income. Who can participate? Individuals, co-operatives and corporations are eligible if they have reported farming income (or loss) to the Canada Revenue Agency for tax purposes. Status Indians farming on reserves in Canada are eligible for Agri-Invest. How are Agri-Invest contributions calculated? Government and producer deposits are based on Allowable Net Sales (ANS). Eligible commodities include most primary agricultural commodities except those covered under supply management (dairy, poultry, and eggs). Sales of Eligible Commodities – Purchases of Eligible Commodities = Allowable Net Sales Each year, you can deposit up to 1.5% of your ANS in your Agri-Invest Account and receive matching government contributions. For example, if your ANS is $100,000, you can deposit up to $1,500 and receive a matching government contribution of $1,500. How do I make a deposit? You will receive a Deposit Notice outlining your deposit amount for the year. You can deposit any amount up to your Maximum Matchable Deposit by the deadline indicated on your notice. After you make your deposit, the Administration will credit your account with matching government contributions. How can I make a withdrawal? Your account is self managed. You have the flexibility to withdraw from your Prairie Mountain Credit Union Ltd. Agri-Invest account at any time. |
Agri-Invest ProgramTo learn more about Agri-Invest, visit the program website at www.agr.gc.ca/agriinvest or call AAFC toll free at 1-866-367-8506. |
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