2018 Livestock Tax Deferral Program Updated

Jan 31, 2019

The third and final list of designated areas eligible for the 2018 Livestock Tax Deferral program has been released.

The initial list was released in September but ongoing analysis of drought conditions resulted in a second and now the third designation of affected areas.

The map of eligible areas includes the majority of the Province.

According to Agriculture and Agri-Food Canada, the livestock tax deferral provision allows producers in prescribed drought or excess moisture regions to defer a portion of their 2018 sale proceeds of breeding livestock until 2019 to help replenish the herd.

The cost of replacing the animals in 2019 will offset the deferred income, thereby reducing the tax burden associated with the original sale.

Agriculture Canada says the 2018 Livestock Tax Deferral program covers a portion of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, and New Brunswick.

Source : Discoverestevan

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