Benefits are calculated for the Agri-Québec Plus program when the final payment for AgriStability is calculated. There are no interim payments with Agri-Québec Plus.
Agri-Québec Plus does not kick in when the net income calculated for the purpose of the program exceeds $50,000. The program payment is therefore limited to the amount required to make up the difference between the net income and $50,000.
The total payout from the AgriStability and Agri-Québec Plus programs, for a same participation year, cannot exceed $3 million.
In an operation’s financial statements, the net income usually occupies the last line of the statement results and represents the difference between all income and expenses. The net benefit is adjusted by La Financière agricole for the purpose of calculating the payment from the Agri-Québec Plus program. It is established using the accrual method of accounting and takes into account:
Any adjustments requested or made by Financière agricole for the AGRI programs (changes in inventory, crop insurance payments, etc.) are taken into account.
In addition, the following items are excluded from the net income calculation under Agri-Québec Plus:
Payments from the Agri-Québec Plus program are not taken into account when calculating ASRA program compensation.
You must submit a phosphorus report to the Ministère du Développement durable, de l'Environnement et de la Lutte contre les changements climatiques by May 15 of every year. If your report does not comply or if you fail to submit it, penalties apply.