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Additional Regions Eligible For Livestock Tax Deferral

The federal government has released a list of additional regions where livestock tax deferral has been authorized for 2018 due to drought.

Manitoba is one of the provinces affected.

“This past year, extreme weather conditions have caused feed shortfalls for Canada’s livestock producers in several provinces," said Lawrence MacAulay, Minister of Agriculture and Agri-Food. "The Livestock Tax Deferral Provision will help give producers the resources needed to help rebuild their herds and get back to business.”

The move allows producers to defer a portion of their 2018 sale proceeds until 2019 to help replenish the herd.

Producers can request the deferral when filing their 2018 income tax returns.

CLICK HERE TO VIEW THE ELIGIBLE AREAS

Source : Steinbachonline