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Tax Relief for Western Livestock Producers

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December 31, 2014 at 6:09 am - Home, Ag news
By Alice McFarlane

Livestock producers in Alberta, British Columbia, Saskatchewan and Manitoba, who faced forage shortfalls due to extreme weather events over the past year, will be allowed to defer tax on their cattle sales for 2014.
This allows eligible producers in designated areas to defer income tax on the sale of their breeding livestock for one year in order to help replenish that stock in the following year.
Proceeds from deferred sales are then included as part of the producer’s income in the next tax year, when those proceeds may be at least partially offset by the cost of replacing their breeding animals.

Alberta

  • Birch Hills County
  • Clear Hills County
  • Municipal District of Fairview No. 136
  • Grande Prairie County No. 1
  • Municipal District of Greenview No. 16
  • Municipal District of Peace No. 135
  • Saddle Hills County
  • Municipal District of Smoky River No. 130
  • Municipal District of Spirit River No. 133

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