More counties eligible for livestock tax deferral

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In an unusual move, Agriculture Canada has added a third set of areas eligible for the federal livestock tax deferral.

This allows cattle producers affected by severe drought or excess moisture to defer a portion of their income earned from selling part of their herd.

The cost of replacements in 2019 will offset the deferred income, thereby reducing taxes associated with the original sale.

Eight areas have been added to the areas announced in September and October. They are the counties of Brazeau, Lac Ste. Anne, Leduc, Paintearth, Parkland, and Yellowhead along with Special Areas No. 2 and No. 3.

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