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CRA Determines Livestock Tax Deferral Areas

Ottawa has released the final list of designated regions for the 2019 Livestock Tax Deferral.
 
The livestock tax deferral provision allows livestock producers in designated drought, flood or excess moisture regions to defer a portion of their 2019 sale proceeds of breeding livestock until 2020 to help replenish the herd.
 
The cost of replacing the animals in 2020 will offset the deferred income, thereby reducing the tax burden associated with the original sale.
 
The designated tax deferral area in Alberta can be seen in the accompanying map.
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