The Governments of Canada and Alberta have announced changes to Agriculture Financial Services Corporation’s AgriStability program, promising to reduce paperwork and lower costs for producers.
A new option to align AgriStability reporting with tax filing in 2025 is meant to reduce paperwork, reduce accounting fees, and make enrolment and participation in the program much easier.
AgriStability is an individual, whole-farm, margin-based program that helps producers who experience margin declines greater than 30% due to production loss, adverse market conditions and increased costs.
In addition, AFSC will accelerate deadlines while also providing enrolled producers to access to other credit options like the federal Advance Payments Program, which offers low-cost cash advances.
In 2023, AgriStability also increased compensation for margin declines exceeding 30%, offering 80 cents per dollar of decline, up from the previous rate of 70 cents.
The goal of AgriStability is to provide income stabilization protection to help producers manage large margin declines that threaten their farm’s viability.
For details on the changes coming to AgriStability, visit the Government of Canada website.
