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Tag Archives livestock tax deferral

To defer income under LTD, the breeding herd must have been reduced by at least 15 per cent. Photo: Canada Beef
Beef Cattle, Livestock, News

Feds announce early livestock tax deferral

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Livestock producers in drought-affected areas are getting and early livestock tax deferral (LTD) for the 2024 season. The federal government said the situation has become more challenging for producers due to climate change, when announcing a list of regions eligible for the deferral on June 14. The LTD allows producers in designated areas, who were […] Read more
Close-up from the federal government’s initial assessment map for the livestock tax deferral provision for the 2023 tax year as of Aug. 10. (AAFC map)
Livestock, Weather

Livestock tax deferral list begins in West for 2023

AgriRecovery work 'progressing,' feds say

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The level of drought in parts of Western Canada so far this year has given the federal government a head start in drafting its list of jurisdictions where producers can get in on the livestock tax deferral provision. Agriculture Minister Lawrence MacAulay on Monday announced an initial list of designated regions for the provision for […] Read more
Federal Agriculture Minister Marie-Claude Bibeau, shown here with Craig Riese (l) of Keystone Agricultural Producers and Manitoba Beef Producers president Tyler Fulton, speaks on July 22, 2021 at The Forks in Winnipeg. (Dave Bedard photo)
General, Weather

Tax deferrals, crop insurance changes en route against drought

Assessments underway for AgriRecovery, minister says

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Updated — As the federal government looks to manage impacts of ongoing drought conditions in Canada’s West, producers in parts of five provinces can already expect to be eligible for the livestock tax deferral program. Agriculture Minister Marie-Claude Bibeau announced Thursday in Winnipeg that producers in drought-designated areas of southern Alberta, southeastern British Columbia, northwestern […] Read more
File photo of the flags of Canada and its provinces and territories at Canada Place in Vancouver. (lilly3/iStock/Getty Images)
General, Weather

Request line open for AgriRecovery drought plans, Bibeau says

Formal ask needed to trigger process: ag minister

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Canada’s federal agriculture minister says the government is “ready to receive formal submissions” from provinces for AgriRecovery plans to help Prairie farmers and ranchers up against significant droughts this summer. Marie-Claude Bibeau, summarizing discussions from Thursday’s online meeting with provincial and territorial (FPT) agriculture ministers, said the formal requests “are needed to trigger the process,” […] Read more
Photo: File
Livestock

Livestock producers receive tax relief for 2019

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Drought in Western Canada and Quebec has prompted the federal government to release an initial list of regions eligible for livestock tax deferrals. 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 […] Read more
Canada Beef Inc.
Crops, Livestock

Feds announce tax support for farmers

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In a news release distributed today linked to Budget 2017, Agriculture and Agri-Food Minister Lawrence MacAulay announced tax relief to help farmers who received compensation under the Health of Animals Act from livestock destroyed due to the bovine tuberculosis outbreak in 2016 and 2017 in Alberta and Saskatchewan. The federal government also released its 2017 list of designated regions for livestock […] Read more

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