The Rural Voice, 1998-01, Page 48include ammoniated silage in the
close-up dry cow ration if it will be
feed to the milking herd.
The ration will need more calcium
and {perhaps a potassium source. Add
a rumen buffer such as sodium
bicarbonate at 0.8 per cent of total
rauon dry matter.
Heavy corn silage rations are more
suited to TMR feeding to reduce the
chances of starch overload and rumen
acidosis. It is critical to monitor body
condition of heifers, late lactation and
dry cows to avoid overconditioning.
Restrict silage amounts or dilute
ration energy levels with low energy
feed (eg. straw) if necessary.°
NISA deadline
coming up
December 31
By Gary Stephens
Business Management Advisor
OMAFRA, Stratford
The annual deadline for farm
business owners to make
contributions and withdrawals to
NISA accounts is December 31. Net
Income Stabilization Account (NISA)
is a voluntary, government -assisted,
income -stabilization program
available to most farm businesses —
dairy, poultry and egg producers
being the exceptions.
The program is intended to assist
individual farm business owners in
times of financial need but it also
helps to maintain a stable rural
economy which is important to all
Canadians. Last year over 10 per cent
of Canadian business owners enrolled
in NISA, 13,745 people, missed the
deadline resulting in a cumulative
loss of over $36 million.
A survey of those who missed the
deadline showed that many did not
clearly understand their options and
many simply forgot. Help to
understand the options is readily
available from NISA administration
or your local Ontario Ministry of
Agriculture, Food and Rural Affairs
office.
Another reason for not responding
was a shortage of cash to make the
44 TF'E RURAL VOICE
Advice
deposit entitlement. Almost one half
of the 13,745 could have "deemed" a
deposit by using triggered withdrawal
entitlements to go toward their
deposit, meaning no cash was
required. While the interest expense
of loans taken out to make a deposit
are not tax deductible, it is often still
profitable to borrow to make a
deposit.
Enrolled participants received
their annual Deposit/Withdrawal
Option Notice (DWON) earlier this
fall. The notice indicated the deposit
or withdrawal entitlements and
outlined alternatives available.
Deposits are to be made at the
financial institution where the
account is held by December 31.
Requests for withdrawal or deeming
of a deposit must be mailed to NISA,
postmarked no later than December
31.
The NISA program began in 1990
and has since had many changes to
make it easier and more beneficial to
participate. Producers of farm
commodities other than dairy, poultry
and eggs, who have not previously
enrolled should consider doing so in
1998. The deadline for enrollment
and submitting 1997 farm data to
participate in 1998 is June 15 for
those applying as individuals and
June 30 for those in corporations.
Yes, this date has been advanced so
make note of it as weII.O
A farmer's
to-do list until
the end of 1997
By Dael Bierworth
Business Management Advisor
Markdale OMAFRA
More successful people tend to
plan ahead and work from a priority
list of things that need to be done. As
1997 comes to a close, one realizes
that time is one of the real
commodities that comes with a
limited supply.
Farmers and those who file tax on
the "cash basis", need to get their
record keeping as up to date as
possible and complete a projected
cash flow until the end of the fiscal
year. This information will provide
the basics for making some purchase
decisions to reduce tax payable. Just
remember to concentrate purchases
on items that will maximize returns in
the future, not just items that will
reduce taxes.
"Cash basis" tax filers should
complete an inventory worksheet,
recording the quantities of supplies,
home grown feed and livestock, that
are on hand at year end. OMAFRA
has an excellent section in
publication 37 – "Farm Financial
Analysis and Planning Workbook"
(pages 2 - 3), for organizing this task.
As your year comes to a close,
review your progress during the year.
Is your business on track with the
goals you set for the year? Now is a
good time to review areas that need
improvement or have surpassed
plans, and decide if you have the
ability to address these areas of
concerns or opportunities and decide
what specialists you may need to
contact in the new year. Why not take
some of your concerns to your
accountant? Their training should
provide insights in many areas of the
business. For family operated
business, don't forget to include
family members and/or employees in
this brainstorming process.
Spend some time with family and
friends to rejuvenate yourself.
Remember a person's resources goes
beyond monetary and asset wealth, it
also extends to the depth of
relationships that ne takes time to
cultivate. It is amazing the effect
these relationships can have in
running a successful business.
Reflect on the strengths of our
society! What is the responsibility
each of us has in maintaining these
strengths? Think of those volunteer
organizations that have combined to
your value of life.
We are approaching the season of
festivities and reflection ... don't let
the season pass before your To Do
List has been completed.°