Posted by & filed under Personal Tax, Student life.

Description: Canadian farmers are getting some help from the federal government to pay for foreign workers. Because the workers will have to be quarantined for 14 days after entering Canada, the government will provide farmers with up to $1,500 per worker to cover pay during the quarantine period. Each year about 40,000 of these agricultural workers come to Canada to keep our farm production going.

Date:  April 15, 2020

Source:  theglobeandmail.com

Link: https://www.theglobeandmail.com/canada/british-columbia/article-western-canada-measures-in-place-to-get-temporary-foreign-farm/

 

Discussion points:

1) Have you ever worked on a farm? What about your classmates?

2) Would you be willing to work on a farm this summer, given the changed job situation for students?

3) Farmers in Canada are permitted by the Canada Revenue Agency to use the cash basis of accounting under certain circumstances. What are the main differences between the cash basis of accounting and the accrual basis? Hint: See Illustration 4-2 in Wiley’s Financial Accounting: Tools for Business Decision-Making.

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