Western Canadian livestock producers in designated regions will be able to defer tax on breeding cattle sales for 2014.
The federal government announced Dec. 30 that producers in British Columbia, Alberta, Saskatchewan and Manitoba who faced feed shortfalls due to weather would be eligible for the deferral.
Last year dealt drought in B.C. and Alberta and flood in Saskatchewan and Manitoba, creating poor forage growing conditions or yields. That led some producers to reduce their breeding herds.
The federal government offers the deferral to help producers replace animals the next year.
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To be eligible, producers must have reduced their breeding herds by at least 15 percent. In that case they can defer 30 percent of income from net sales.
If herds have been cut by more than 30 percent, the deferral is 90 percent.
The complete list of regions where the deferrals are available can be found at www.agr.gc.ca.
The list includes 31 census subdivisions in B.C., four counties and five municipal districts in Alberta, 22 rural municipalities in Saskatchewan and 27 RMs and one First Nation in Manitoba.
Contact karen.briere@producer.com
