Livestock tax deferral regions announced

Ottawa recently announced its initial list of eligible regions for the Livestock Tax Deferral Provision months earlier than usual.

There are 30 counties and special areas named in Alberta, concentrated along the southern side of the province and in the north and northwest.

The provision allows producers who sell part of their breeding herd to defer a portion of that income to the following year — which can save tax if replacement breeding animals are bought the next year.

The early announcement “will provide added time to help producers make more informed herd management decisions as they face feed shortages,” said the Canadian Cattlemen’s Association.

The list can be found on the Agriculture and Agri-Food Canada website.

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