|
NEWS RELEASE |
|
| April 9 , 2008 | For
Immediate Release |
AGRISTABILITY
DEADLINE FAST APPROACHING
Producers
have until April 30 to apply for 2008 program year
OTTAWA – Garry Breitkreuz, Member of Parliament for Yorkton-Melville would like to advise producers that the deadline to apply for AgriStability for 2008 is April 30, 2008.
“AgriStability is one of the components designed to replace CAIS and is a part of Growing Forward,” said Breitkreuz. “AgriStability will cover larger margin declines.”
AgriStability, together with AgriInvest, replace the coverage previously provided under the Canadian Agricultural Income Stabilization (CAIS) program. You receive an AgriStability payment when your current year program margin falls below 85% of your reference margin.
AgriStability is based on margins:
-
Program margin is your allowable income minus your allowable expenses in a given year, with adjustments for changes in receivables, payables and inventory. These adjustments are made based on information you submit on the AgriStability harmonized form.
-
Reference margin is your average program margin for three of the past five years (the lowest and highest margins are dropped from the calculation).
Should
your production margin fall below 85% of your reference margin in a
given year, you will receive a program payment.
Producers who participated in 2007 AgriStability will automatically
receive an Enrolment Notice for 2008 AgriStability. Those who did not
participate in 2007 or are new to farming are encouraged to call their
administration for more information.
Producers also have to respond to their 2008 AgriStability Enrolment
Notice and submit their 2008 AgriStability fee by April 30, 2008, or
within 30 days of the date on their Notice. Fees paid after this date
will be accepted until December 31, 2008, but a late fee penalty will
be applied.
- 30 -