Tuesday, July 12, 2006, Niagara Falls, ON - Individuals are given the chance to take advantage of the Taxation benefits of a part time farmer. Ramsholt Genetics announced today that is will be offering partnership opportunities to individuals looking to alter their taxation status. They will be offering individuals a "hands off" partner opportunity in the ownership of breeding stock, giving them the taxation status of a part time farmer. This status will allow them to write off the entire purchase price of the breeding stock and any expense related to the breeding stock plus a number of their current day to day expenses.
“Our decision to offer such a partnership opportunity, comes after numerous inquiries from high income earners looking to purchase an interest in an animal to gain the taxation status of a farmer” says Robert Ross, President and CEO of the multinational company. “This is a great chance for individuals to gain this taxation status without having to own a farm or do any of the day to day labor related to such and enterprise. The best thing is, it’s not just a one time deal.” adds Ross. “Cattle reproduce so your herd grows and you can write off any expense that can in any way be related to the cattle or the business partnership, it’s a win win situation. A farm income also allows you to register trucks and SUVs as a farm vehicle, giving you access to cheaper farm fuel prices”
Ramsholt Genetics is a wholly owned subsidiary of Prairie Ross Holdings Inc, a federally registered company. They are recognized as a top breeder of Championship beef cattle world wide and a multinational importer and exporter of elite genetics.
For more detailed information and Revenue Canada regulations reguarding taxation benefits of part time farmers, please contact the Ramsholt Genetics office.
