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The Rural Voice, 2019-02, Page 56By Francois Bourgeois, CPA and Maggie Van Camp The second phase of the national $250 million program to help dairy farmers mitigate the impacts of the Canada-European Union Comprehensive Economic and Trade Agreement (CETA) is now available. This assistance program was developed to aid Canadian licensed cows’ milk producers to improve productivity through upgrades to their equipment. Under the Comprehensive Economic and Trade Agreement between Canada and the European Union and its Member States, Canada agreed to a tariff rate quota of 16,000,000 kilograms for EU cheeses. As a result, Canada will nearly double the amount of EU cheese it imports duty-free. It's the first time our country has awarded new cheese quota since the 1970s. Imports make up about five per cent of the current cheese market and it’s estimated the new EU cheese will bump that up to nine per cent The impact to dairy farms will be substantial, especially in conjunction with the newly negotiated NAFTA deal, now known as United States- Mexico-Canada Agreement (USMCA) opens 3.6 per cent of Canada’s dairy market to tariff-free imports and limits Canada’s. Recently, on Dairy Day at the Grey Bruce Farmers’ Week, Ralph Dietrich, Chair of Dairy Farmers of Ontario, lamented how Canadian farmers will lose about another four per cent of market share under USMCA to imports. He said that becomes a very significant erosion of domestic market share when it’s added to CETA and other trade deals. During his presentation he estimated the total imports of dairy will eventually increase to 18 per cent. One way for dairy farmers to mitigate these trade losses is to improve production efficiencies and by taking advantage of the government assistance. However, you have to apply right away – by February 8, 2019. The five year program was started in 2017/2018 and Phase 1 is already completed. Phase 2 will provide assistance from April 1, 2020 until March 31, 2022. The program supports investments in all provinces based on their share of the total national milk quota. Only Canadian licensed cows’ milk producers are eligible, and only one application per dairy license will be accepted. Any licensed dairy producer who received funding under Phase 1 will initially not be eligible to submit an application under Phase 2, unless of course funding remains unallocated after all Phase 2 assessments. If a producer has more than one license, the license that did not receive funding under Phase 1 can be used to apply under Phase 2. The maximum available funding is 50 per cent of eligible costs to a maximum of $100,000 funding. Minimum contribution is $1,000. There’s a common stream for all projects, so no distinction between small and large projects. To qualify the projects must relate to improving productivity of milk production from cows. For example, hiring external expertise, purchasing equipment, training, or retrofits of current facilities. Buying equipment for use or installation outside the barn, new buildings or barn expansions are ineligible activities. Similarly, commercial future expansion is not eligible, for example buying an extra robot to produce on a future purchase of quota. Eligible costs may be future planned or actual costs. Cost categories are equipment plus associated costs (consultant, installation, retrofits, etc.). Acceptable associated costs are limited to the total actual cost of the equipment. Eligible activities (costs) must incur between August 1, 2017 and March 31, 2022. So if a deposit has been paid before August 1, 2017 or a contract/purchase order signed, the activity is ineligible. Project request forms are being accepted between January 7, 2019 and February 8, 2019 and no supporting documents are required with these forms. However, it’s very important to use accurate cost estimates on the forms since any increase could be refused. A Dairy Farm Invest Program project number will be assigned. Once the submission window closes (February 8, 2019), projects will be randomly ranked for funding. If the project is considered acceptable for Phase 2, a Detailed Application must be submitted within four weeks and must include quotes, invoices, receipts and proof of payment (depending if the project was completed before or after the application). Also, additional information must be submitted with the Detailed Application such as Articles of Incorporation, dairy license documents, milk payment statements or proof of financing. The Detailed Application form will be assessed based on certain criteria, and successful applicants will receive a decision package with a step-by-step reimbursement claim. Projects outside the available funding for Phase 2 will be placed on a waiting list. For more information and access the forms follow this link. http://www.agr.gc.ca/eng/programs- and-services/dairy-farm-investment- program/applicant- guide/?id=1494010428766#1.4 If you want some help applying to this program, your accountant should be able to help. If not, call your local BDO office and they should be able to help you. It’s probably worth the effort to fill out the forms. Potentially you could get up to $100,000 to reinvest on your farm and mitigate the risk of some of these trade losses with practical improvements. Although you have to match the investment, the program was created as a way to stir improvements and help farmers drive their businesses to be more competitive. ◊ February 2019 53 Dairy investment program now open Maggie Van Camp is the National Agricultural Practice Development Leader for BDO Financial Management