Ontario and Quebec Livestock Producers Hit by Drought Get Tax Deferral

Aug 28, 2012

Canadian Government Offers Tax Referral to Affected Counties

Drought has made it a hard year for livestock farmers, who are trying to stay afloat. The Canadian government announced today that livestock farmers impacted by the drought in Ontario and Quebec will be able to take advantage of tax deferrals. The government is also allowing farmers to access assistance through various farm programs including - AgriInsurance, AgriStability, and AgriInvest. Producers can contact Agricorp and La Financière agricole du Québec.

"This summer's hot and dry weather has drastically reduced feed supplies for many Ontario and Quebec farmers, forcing them to make some tough herd management decisions," said Agriculture Minister Gerry Ritz. "With a tax deferral, producers will have some breathing room by being able to redirect money towards replenishing next year's breeding stock and get back to business.."

Who is eligible?

The tax deferral will allow eligible farmers to defer income tax on the sale of breeding livestock for one year. In order to be eligible, for the tax deferral a farmers breeding herd would have to be reduced by a minimum of 15% - in those cases 30% of income from net sales can be deferred. In other extreme cases where breeding herds have been reduced by 30% more, a net income of 90% can be deffered.

Livestock producers must contact their local Canada Revenue Agency Tax Services Office for more details on income tax provisions or visit the AAFC website at www.agr.gc.ca.

Tax Deferral Applicable Regions:

ONTARIO

Census Division Brant

Census Division Haldimand-Norfolk

Census Division Hamilton

Census Division Ottawa

District of Parry Sound

District Municipality of Muskoka

County of Bruce

County of Dufferin

County of Grey

County of Huron

County of Lanark

County of Oxford

County of Perth

County of Renfrew

County of Wellington

Regional Municipality of Halton

Regional Municipality of Niagara

Regional Municipality of Waterloo

United Counties of Prescott and Russell

QUEBEC

Regional County Municipality of Les Collines-de-l'Outaouais

Regional County Municipality Papineau

Regional County Municipality of Pontiac

Territory Equivalent Gatineau

Video: Evolution of Beef Cattle Farming

The Clear Conversations podcast took to the road for a special episode recorded in Nashville during CattleCon, bringing listeners straight into the heart of the cattle industry. Host Tracy Sellers welcomed rancher Steve Wooten of Beatty Canyon Ranch in Colorado for a wide-ranging discussion that blended family history and sustainability, particularly as it relates to the future of beef production.

Sustainability emerged as a central theme of the conversation, a word that Wooten acknowledges can mean very different things depending on who you ask. For him, sustainability starts with the soil. Healthy soil produces healthy grass, which supports efficient cattle capable of producing year after year with minimal external inputs. It’s an approach that equally considers vegetation, animal efficiency, and long-term profitability.

That philosophy aligned naturally with Wooten’s involvement in the U.S. Roundtable for Sustainable Beef, where he served as a representative for the Colorado Cattlemen’s Association. The roundtable brings together the entire beef supply chain—from producers to retailers—along with universities, NGOs, and allied industries. Its goal is not regulation, Wooten emphasized, but collaboration, shared learning, and continuous improvement.