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Permanent link (DOI): https://doi.org/10.7939/R36H4CZ8C

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Potential factors affecting competition for private land between Forestry and Agriculture in Canada Open Access

Descriptions

Other title
Subject/Keyword
Real Estate Investment Trusts in Canada
Income tax and forestry
Competition for private land
Capital Asset Pricing Model in Farmland
Capital Asset Pricing Model in Timberland
Propert tax and forestry
Type of item
Thesis
Degree grantor
University of Alberta
Author or creator
Tshuma,Patience Silundi
Supervisor and department
An,Henry (Resource Economics and Environmental Sociology)
Luckert, Marty (Resource Economics and Environmental Sociology)
Examining committee member and department
Rude,James (Resource Economics and Environmental Sociology)
Armstrong,Glen (Renewable Resources)
Department
Department of Resource Economics and Environmental Sociology
Specialization
Agricultural and Resource Economics
Date accepted
2014-01-21T09:59:16Z
Graduation date
2014-06
Degree
Master of Science
Degree level
Master's
Abstract
This study assesses two factors which could influence the competition for private land between agricultural crops and hybrid poplars in Canada: tax policy and investment portfolio diversification. I find differential treatment of trees for property tax purposes across provinces, but negligible differences with respect to income taxes. I also examine the use of Real Estate Investment Trusts (REITs) - an alternative corporate tax structure for land ownership – in the context of tree and agricultural production that could confer tax benefits to farms with hybrid poplars. I find that existing rules, such as restrictions on foreign ownership of land and non-recognition of timber cutting contracts as rental income, pose significant barriers to farmland and timberland-based REITs. Lastly, I estimate a Capital Asset Pricing Model to compare the systematic risk added by farmland and timberland to a diversified portfolio. Both assets have zero betas indicating neither is favored on private land.
Language
English
DOI
doi:10.7939/R36H4CZ8C
Rights
Permission is hereby granted to the University of Alberta Libraries to reproduce single copies of this thesis and to lend or sell such copies for private, scholarly or scientific research purposes only. Where the thesis is converted to, or otherwise made available in digital form, the University of Alberta will advise potential users of the thesis of these terms. The author reserves all other publication and other rights in association with the copyright in the thesis and, except as herein before provided, neither the thesis nor any substantial portion thereof may be printed or otherwise reproduced in any material form whatsoever without the author's prior written permission.
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