The AgriStability enrollment deadline for the 2020 program year has been extended, without penalty, from April 30 to July 3, 2020. The extension offers farmers additional time to sign up and benefit from the program.
This exceptional step to extend the deadline was agreed to by federal, provincial and territorial governments, and will help more farmers manage the impact of current market disruptions, increased expenses and production challenges facing many farm operations. Farmers experiencing losses are encouraged to apply for interim payments under AgriStability for more rapid support.
The Info Bulletin announcing the extension can be found at https://www.canada.ca/en/agriculture-agri-food/news/2020/04/info-bulletin—agristability-2020-enrollment-deadline-extended.html
Private insurance payments will be treated as non-allowable income in the calculation of the program year margin starting with the 2020 program year. This means that payments you receive from private insurance will no longer reduce the support you receive from AgriStability.
This change applies to private insurance payments from programs where the premiums are fully producer-funded and compensate for losses related to price, revenue, productions or margins. Private insurance payments will remain allowable in your reference years to ensure your support level does not decrease.
Report your private insurance payments using the line codes that have been assigned for private insurance programs on your 2020 form. Do not include private insurance payments with any AgriInsurance payments you receive.
AgriStability is a risk management tool that provides protection against large margin declines caused by market fluctuations or increased expenses that threaten the viability of their farm and are beyond their capacity to manage. AgriStability offers margin protection for the whole farm – consequently, a price reduction in a single commodity may not result in a program payment.
You are eligible for AgriStability if you earn income from the primary production of agricultural commodities. More information on eligibility can be found on the AgriStability eligibility criteria page on the Government of Canada’s Agriculture and Agri-Food website.
The following individuals or groups can participate in AgriStability:
Step 1: Enrol
Each year you must enrol in the program by the enrolment deadline. For the 2020 program year only, the enrolment deadline has been extended from April 30 to July 3, 2020.
Step 2: Pay Your Fee
Pay your fee and administrative cost share by the deadline.
Producers have until July 3, or 30 days after receiving their enrolment notice, to pay their fee without penalty.
If the fee deadline is missed, a 20 per cent penalty is applied and have until December 31 to pay their fee with applied penalty.
Should you miss the initial fee deadline, you have until the final fee deadline to pay your fee with a penalty equal to 20 per cent of your fee.
Step 3: Complete and Send Your Form
Send your completed AgriStability form by the deadline.
If you send your form after the initial deadline, your payment (if you receive one) will be reduced by $500 for each month or part of a month past the initial deadline up to the final deadline.