#stayhome Maintain the distance, wash your hands, and follow instructions from the health authorities.
RSS   Newsletter   Contact   Advertise with us

Livestock producers receive tax relief for 2019 in Canada

Share on Twitter Share on LinkedIn
Christian Fernsby ▼ | February 19, 2020
The Government of Canada yesterday released the final list of designated regions where livestock tax deferral has been authorized for 2019 due to extreme weather conditions.
Livestock Canada
Farmers in Canada   Livestock Canada
The livestock tax deferral provision allows livestock producers in prescribed 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.

Topics: Livestock producer tax relief Canada

On July 22, 2019, the Government announced the initial list of prescribed regions in British Columbia, Alberta, Saskatchewan, Manitoba and Quebec for livestock tax deferral purposes. Ongoing analysis of drought conditions and excess moisture has indicated the need to expand the list of designated regions for 2019, with new regions identified for British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, and Quebec.


 

MORE INSIDE POST