AgriInvest is a savings account for producers, supported by governments, which provides for coverage for small income declines and allows for investments that help mitigate risk or improve market income.
AgriStability is delivered by SCIC for Saskatchewan producers and is designed to provide support when producers incur large financial losses (payments are triggered when losses are greater than 30 per cent of the historical margin).
The information used for the AgriInvest program is collected on the same forms that are used for AgriStability. For individuals (sole proprietors), completing and submitting the T1163 to the Canada Revenue Agency (CRA) ensures the participant is meeting the application requirements for both AgriStability and AgriInvest. Once CRA collects the information from the T1163 form, they forward it onto AAFC for the AgriInvest Program. AAFC then forwards the information to SCIC for AgriStability.
When corporations, co-operatives and other entities complete and submit the Corporations/Co-operatives/Other Entities form to SCIC they are meeting the submission requirements for AgriStability and/or AgriInvest. SCIC collects the information from the form, uses it for AgriStability and then forwards the relevant information to AAFC for the AgriInvest Program.
Corporations, co-operatives and other entities applying for only the AgriInvest Program still must complete and submit the Corporations/Co-operatives/Other Entities form to SCIC, by the required deadline, to be eligible for AgriInvest.
Visit the AgriInvest website for complete details.