Get Your AgriStability Payments Faster and Easier By Direct Deposit
The Government of Canada is phasing out federal government cheques in favour of direct deposits by April 2016. AgriStability payments will be available by direct deposit starting in late 2014.
The benefits of direct deposit are:
- Convenience – Faster access to your money, as AgriStability payments go directly to your bank account.
- Security – Direct deposit is fast, reliable and safe. AgriStability payments have virtually no risk of being lost, stolen or damaged.
- Low-Cost – It costs the government pennies to do a direct deposit payment, compared to the cost of printing and mailing a cheque.
Information on the sign up process for AgriStability direct deposit payments will be sent to participants in late 2014.
AgriStability provides support when you experience a large margin decline. You may be able to receive an AgriStability payment when your current year program margin falls below 70% of your reference margin.
AgriStability is based on margins:
Program margin - your allowable income minus your allowable expenses in a given year, with adjustments for changes in receivables, payables and inventory. These adjustments are made based on information you submit on the AgriStability harmonized form.
Reference margin - your average program margin for three of the past five years (the lowest and highest margins are dropped from the calculation). Your reference margin will be limited to the lower of your historical reference margin or your average allowable expenses for the years used to calculate your reference margin.
Should your production margin fall below 70% of your reference margin in a given year, you will receive a program payment.
Provides support when you experience a large margin decline.
For more information please contact the AgriStability Administration.
AgriStability is delivered in Manitoba, New Brunswick, Nova Scotia, Newfoundland and Labrador and Yukon by the federal government. The information on this website refers to deadlines and other delivery details for these provinces only.
If you are in British Columbia, Saskatchewan, Alberta, Ontario, Quebec, or Prince Edward Island, AgriStability is delivered provincially. Please visit your respective provincial administration using the links above.
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