Interest-free period extended on AgriStability overage

Tuesday Dec 20 2011

Farmers in provinces where the AgriStability program is delivered federally now have an extra year to pay back any program overpayments without interest charges.

Agriculture and Agri-Food Canada announced Monday that the interest-free period for overpayments under AgriStability and its predecessor, the Canadian Agricultural Income Stabilization (CAIS) program, will now run until Jan. 1, 2013.

The extension period applies to producers in Manitoba, Nova Scotia, New Brunswick, Newfoundland and Labrador and the Yukon, where the federal government still delivers the programs, AAFC said.

The programs' provincial delivery agencies in Ontario, Saskatchewan, Alberta, British Columbia and Prince Edward Island haven't yet posted any similar notices.

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