Smart farming: Robotics, succession planning, and tax strategies for Canadian farmers.

The Fall 2022 issue of Intelligent Farmer explores how smart farming technologies are transforming Canadian agriculture. From autonomous robots to data-driven decision-making, these innovations promise to tackle labor shortages, boost efficiency, and pave the way for a sustainable future.

Click here to download the full Fall 2022 issue of Intelligent Farmer today

The Rise of Agricultural Robotics

• Haggarty AgRobotics is deploying car-sized robots that plant, weed, and monitor crops, reducing reliance on manual labor.
• Small farms are adopting these tools first, as robots act as a "third hand" for tasks like berry and fruit harvesting.
• Challenges remain, including rural internet infrastructure and the need for industry-wide collaboration to scale solutions.

Addressing Labor Shortages

• By 2025, one in four Canadian farmers will be over 65, exacerbating a labor gap of 120,000 workers.
• Smart farming technologies aim to fill this void, with automation handling tedious tasks and attracting new talent to the field.

Financial Strategies for Farm Succession

• Structuring farm businesses for the next generation requires clear goals and legal/tax planning (e.g., corporations, partnerships, trusts).
• Selling farmland strategically can minimize tax burdens by spreading gains over multiple years, preserving Old Age Security benefits.

The Road Ahead

• Innovation hubs in Southwestern Ontario are emerging to research, manufacture, and deploy smart farming technologies.
• Education initiatives, like the University of Guelph’s agricultural management course, are equipping farmers with business and financial skills.

Don’t miss the full story.

Read the Fall 2022 issue of Intelligent Farmer today to discover how smart farming can future-proof your operation and drive Canada’s agricultural leadership.

RBC Dominion Securities Inc. | Lorkovic DeKoning Wealth Management